Alger Concentrated Correlations

Mutual Funds . USA . 
Fund . Alger Concentrated Equity
CNEZX Fund   15.03  0.09  0.60%   
The current 90-days correlation between Alger Concentrated Equity and Global Gold Fund is -0.41 (i.e., Very good diversification). The correlation of Alger Concentrated 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 Concentrated Correlation With Market

Good diversification

The correlation between Alger Concentrated Equity and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Concentrated Equity 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 Concentrated Equity. 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 nation.

Moving together with Alger Mutual Fund

  0.95AOFAX Alger Small CapPairCorr
  0.95AOFCX Alger Small CapPairCorr
  0.87ASCZX Alger Smallcap GrowthPairCorr
  0.62ASPCX Alger SpectraPairCorr
  0.62ASPZX Alger SpectraPairCorr
  0.62ASPYX Alger SpectraPairCorr
  0.63AGIFX Alger ResponsiblePairCorr
  0.62AIGOX Alger Growth IncomePairCorr
  0.61AISZX Alger Smallcap GrowthPairCorr
  0.61SPECX Alger SpectraPairCorr
  0.61SPEGX Alger ResponsiblePairCorr
  0.61ALAFX Alger Capital ApprecPairCorr
  0.62ALCFX Alger Capital ApprecPairCorr
  0.62ALGRX Alger Capital ApprecPairCorr
  0.87ALMRX Alger Midcap GrowthPairCorr
  0.62ALVOX Alger Capital ApprecPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Concentrated 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 Concentrated'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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