Alger Capital Correlations

Mutual Funds . USA . 
Fund . Alger Capital Appreciation
ALZFX Fund  USD 84.34  0.91  1.09%   
The current 90-days correlation between Alger Capital Apprec and Alger Capital Appreciation is 1.0 (i.e., No risk reduction). The correlation of Alger Capital 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 Capital Correlation With Market

Very weak diversification

The correlation between Alger Capital Appreciation and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Capital Appreciation 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 Capital Appreciation. 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 census.

Moving together with Alger Mutual Fund

  0.99AMGOX Alger Mid CapPairCorr
  0.95AOFIX Alger Small CapPairCorr
  0.95AOFAX Alger Small CapPairCorr
  0.96CHUSX Alger Global GrowthPairCorr
  1.0AAGOX Alger Large CapPairCorr
  1.0AAIYX Alger Mid CapPairCorr
  0.89ASCYX Alger FundsPairCorr
  0.89AASOX Alger Small CapPairCorr
  0.84ASMZX Alger Smidcap FocusPairCorr
  1.0ASPIX Alger SpectraPairCorr
  0.84ASYMX Alger Weatherbie SpePairCorr
  1.0ACAYX Alger Capital ApprecPairCorr
  1.0ACARX Alger Capital ApprecPairCorr
  1.0ACAAX Alger Capital ApprecPairCorr
  0.96ADOCX Alger Dynamic OpportPairCorr
  0.93AFGIX Alger Global GrowthPairCorr
  0.99AFOIX Alger Mid CapPairCorr
  0.95AGOZX Alger Small CapPairCorr
  0.92AIGOX Alger Growth IncomePairCorr
  1.0ALARX Alger Capital ApprecPairCorr
  1.0ALAFX Alger Capital ApprecPairCorr
  1.0ALCFX Alger Capital ApprecPairCorr
  0.98ALGRX Alger Capital ApprecPairCorr
  0.91ALSAX Alger Smallcap GrowthPairCorr
  0.96FAFGX American FundsPairCorr
  0.96FFAFX American FundsPairCorr
  0.96GFACX Growth FundPairCorr
  0.98GFAFX Growth FundPairCorr
  0.98AGTHX Growth FundPairCorr
  0.98CGFFX Growth FundPairCorr
  0.96CGFCX Growth FundPairCorr
  0.96CGFAX Growth FundPairCorr
  0.98CGFEX Growth FundPairCorr
  0.98RGAEX Growth FundPairCorr
  0.98VSTSX Vanguard Total StockPairCorr

Moving against Alger Mutual Fund

  0.42AIGIX Alger InternationalPairCorr
  0.75PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr
  0.32VTISX Vanguard Total InterPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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