Alger Emerging Correlations

Mutual Funds . USA . 
Fund . Alger Emerging Markets
AAEMX Fund  USD 12.03  0.03  0.25%   
The current 90-days correlation between Alger Emerging Markets and Advent Claymore Convertible is -0.07 (i.e., Good diversification). The correlation of Alger Emerging 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 Emerging Correlation With Market

Very weak diversification

The correlation between Alger Emerging Markets and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Emerging Markets 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 Emerging Markets. 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 population.

Moving together with Alger Mutual Fund

  0.63VEMAX Vanguard Emerging MarketsPairCorr
  0.98VEIEX Vanguard Emerging MarketsPairCorr
  0.98VEMIX Vanguard Emerging MarketsPairCorr
  0.98VEMRX Vanguard Emerging MarketsPairCorr
  0.99FWWNX American Funds NewPairCorr
  0.99FNFWX American Funds NewPairCorr
  0.99NEWFX New World FundPairCorr
  0.99NWFFX New World FundPairCorr
  0.99NEWCX New World FundPairCorr
  0.98ODVYX Oppenheimer DevelopingPairCorr
  0.68SMPIX Semiconductor UltrasectorPairCorr
  0.98SMPSX Semiconductor UltrasectorPairCorr
  0.96RSNRX Victory Global NaturalPairCorr
  0.73EMO Clearbridge Energy MlpPairCorr
  0.96RSNYX Victory Global NaturalPairCorr
  0.96RGNCX Victory Global NaturalPairCorr
  0.66JPM JPMorgan ChasePairCorr
  0.61BAC Bank of America Aggressive PushPairCorr
  0.67CAT CaterpillarPairCorr
  0.67CSCO Cisco SystemsPairCorr

Moving against Alger Mutual Fund

  0.65MCD McDonaldsPairCorr
  0.37TRV The Travelers CompaniesPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
LCFYX
+ 0.99
XNCVX
XNCVX
+ 0.98
XAVKX
GCV
+ 0.98
XNCVX
GCV
+ 0.98
LCFYX
LCFYX
+ 0.96
XAVKX
FSAWX
+ 0.95
XNCVX
  
High negative correlations   
GCV
- 0.37
CCD
LCFYX
- 0.25
CCD
CCD
- 0.25
XNCVX
FSAWX
- 0.23
CCD
CCD
- 0.16
XAVKX

Risk-Adjusted Indicators

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