Alger Global Correlations

Mutual Funds . USA . 
Fund . Alger Global Growth
CHUCX Fund  USD 26.53  0.21  0.80%   
The current 90-days correlation between Alger Global Growth and Tiaa Cref Real Estate is 0.4 (i.e., Very weak diversification). The correlation of Alger Global is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Alger Global Correlation With Market

Almost no diversification

The correlation between Alger Global Growth and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Global Growth and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alger Global Growth. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Alger Mutual Fund

  0.99AMGAX Alger Midcap GrowthPairCorr
  0.99AMGCX Alger Midcap GrowthPairCorr
  0.99AMGOX Alger Mid CapPairCorr
  0.97AOFYX Alger Small CapPairCorr
  0.97AOFIX Alger Small CapPairCorr
  0.97AOFAX Alger Small CapPairCorr
  0.97AOFCX Alger Small CapPairCorr
  1.0CHUSX Alger Global GrowthPairCorr
  0.99AAEMX Alger Emerging MarketsPairCorr
  0.99AAGOX Alger Large CapPairCorr
  0.98AAICX Alger Ai EnablersPairCorr
  0.98AAIZX Alger Ai EnablersPairCorr
  0.98AAIYX Alger Mid CapPairCorr
  0.98ASCYX Alger FundsPairCorr
  0.98ASCZX Alger Smallcap GrowthPairCorr
  0.98AASOX Alger Small CapPairCorr
  0.98ASIRX Alger Smallcap GrowthPairCorr
  0.98ASIMX Alger Smidcap FocusPairCorr
  0.98ASMZX Alger Smidcap FocusPairCorr
  0.99ASPCX Alger SpectraPairCorr
  0.99ASPZX Alger SpectraPairCorr
  0.99ASPYX Alger SpectraPairCorr
  0.99ASPIX Alger SpectraPairCorr
  0.98ASYMX Alger Weatherbie SpePairCorr
  0.98ABLOX Alger Balanced PortfolioPairCorr
  0.99ACAYX Alger Capital ApprecPairCorr
  0.99ACAZX Alger Capital ApprecPairCorr
  0.99ACARX Alger Capital ApprecPairCorr
  0.99ACAAX Alger Capital ApprecPairCorr
  0.98ATVPX Alger 35 FundPairCorr
  0.99ACEMX Alger Emerging MarketsPairCorr
  0.99ACIZX Alger Capital ApprecPairCorr
  0.97ADOCX Alger Dynamic OpportPairCorr
  0.97ADOZX Alger Dynamic OpportPairCorr
  0.99CNEIX Alger Concentrated EquityPairCorr
  0.99CNEYX Alger Concentrated EquityPairCorr
  0.99CNEZX Alger Concentrated EquityPairCorr
  1.0AFGZX Alger Global GrowthPairCorr
  0.99AFGPX Alger InternationalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Global Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Alger Global's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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