Alger Spectra Correlations

Mutual Funds . USA . 
Fund . Alger Spectra Fund
SPECX Fund  USD 32.70  0.16  0.49%   
The current 90-days correlation between Alger Spectra and White Oak Select is 0.82 (i.e., Very poor diversification). The correlation of Alger Spectra 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 Spectra Correlation With Market

Poor diversification

The correlation between Alger Spectra Fund and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Spectra Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Alger Spectra Fund. 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

  0.74AMGAX Alger Midcap GrowthPairCorr
  0.72AMGCX Alger Midcap GrowthPairCorr
  0.76AMGOX Alger Mid CapPairCorr
  0.95AOFAX Alger Small CapPairCorr
  0.95AOFCX Alger Small CapPairCorr
  0.78CHUCX Alger Global GrowthPairCorr
  0.76AAGOX Alger Large CapPairCorr
  0.99ASCZX Alger Smallcap GrowthPairCorr
  0.78ASIMX Alger Smidcap FocusPairCorr
  0.69ASMZX Alger Smidcap FocusPairCorr
  0.99ASPCX Alger SpectraPairCorr
  0.99ASPZX Alger SpectraPairCorr
  0.98ASPYX Alger SpectraPairCorr
  0.68ASPIX Alger SpectraPairCorr
  0.64ABLOX Alger Balanced PortfolioPairCorr
  1.0ACAZX Alger Capital ApprecPairCorr
  0.97ACEMX Alger Emerging MarketsPairCorr
  0.75ADOCX Alger Dynamic OpportPairCorr
  0.74ADOZX Alger Dynamic OpportPairCorr
  0.99CNEIX Alger Concentrated EquityPairCorr
  0.99CNEYX Alger Concentrated EquityPairCorr
  0.99CNEZX Alger Concentrated EquityPairCorr
  0.69AFGZX Alger Global GrowthPairCorr
  0.97AFGPX Alger InternationalPairCorr
  0.98AFOZX Alger Funds MidPairCorr
  0.72AGIRX Alger Midcap GrowthPairCorr
  0.76AGIFX Alger ResponsiblePairCorr
  0.95AGOZX Alger Small CapPairCorr
  0.67AGSCX Alger Smallcap GrowthPairCorr
  0.98AIEMX Alger Emerging MarketsPairCorr
  0.64AIGOX Alger Growth IncomePairCorr
  0.74SPEDX Alger Dynamic OpportPairCorr
  0.98SPEGX Alger ResponsiblePairCorr
  0.76ALARX 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 Spectra 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 Spectra'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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