Alger Capital Correlations

ACATX Fund

USD 7.53 0.06 0.79%

The current 90-days correlation between Alger Capital Apprec and Virtus Nfj Large Cap is 0.12 (i.e., Average diversification). 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

Good diversification

The correlation between Alger Capital Appreciation and DJI is -0.03 (i.e., Good 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 estimate.

Moving together with Alger Mutual Fund

0.84	RSDIX	Rbc Short Duration	Pair Corr
0.81	RSHFX	Rbc Short Duration	Pair Corr
0.69	RBCIX	Rbc China Equity	Pair Corr
0.67	RCEAX	Riversource Series Trust	Pair Corr
0.84	RCPAX	Rbc Bluebay Core	Pair Corr
0.86	RCPIX	Rbc Funds Trust	Pair Corr
0.86	RCPRX	Rbc Bluebay Core	Pair Corr
0.82	RULFX	Rbc Ultra Short	Pair Corr
0.98	ACASX	Access Capital Munity	Pair Corr
0.76	RUSIX	Rbc Ultra Short	Pair Corr
0.89	ACCSX	Access Capital Munity	Pair Corr

Moving against Alger Mutual Fund

0.6	TETAX	Rbc Enterprise	Pair Corr
0.6	TETIX	Rbc Enterprise	Pair Corr
0.57	TMCAX	Rbc Smid Cap	Pair Corr
0.56	RBRCX	Rbc Small Cap	Pair Corr
0.55	TMCIX	Rbc Smid Cap	Pair Corr
0.54	RSVIX	Rbc Small Cap	Pair Corr
0.51	RRSVX	Rbc Small Cap	Pair Corr
0.51	RBVAX	Rbc Small Cap	Pair Corr
0.46	RSMRX	Rbc Smid Cap	Pair Corr
0.42	TEEAX	Rbc Small Cap	Pair Corr
0.42	RCSIX	Rbc Small Cap	Pair Corr
0.51	RGORX	Rbc Global Opportunities	Pair Corr
0.47	TMVAX	Rbc Microcap Value	Pair Corr
0.46	RMVIX	Rbc Microcap Value	Pair Corr
0.45	RGRLX	Rbc Global Equity	Pair Corr
0.44	RGOIX	Rbc Global Opportunities	Pair Corr
0.37	RGELX	Rbc Global Equity	Pair Corr
0.37	RGPAX	Rbc Global Opportunities	Pair Corr

Related Correlations Analysis

	VAAGX	LTFOX	TALCX	PAVLX	TACLX	DOXGX	PCLVX
VAAGX		0.91	0.88	0.82	0.85	0.92	0.79	VAAGX
LTFOX	0.91		0.92	0.87	0.89	0.96	0.82	LTFOX
TALCX	0.88	0.92		0.95	0.96	0.91	0.93	TALCX
PAVLX	0.82	0.87	0.95		0.97	0.9	0.99	PAVLX
TACLX	0.85	0.89	0.96	0.97		0.92	0.96	TACLX
DOXGX	0.92	0.96	0.91	0.9	0.92		0.89	DOXGX
PCLVX	0.79	0.82	0.93	0.99	0.96	0.89		PCLVX
	VAAGX	LTFOX	TALCX	PAVLX	TACLX	DOXGX	PCLVX

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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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
VAAGX	0.96	(0.14)	(1.96)	1.33	(1.97)	10.72
LTFOX	0.97	(0.15)	1.64	1.54	(2.18)	9.59
TALCX	0.94	0.00	(0.14)	1.61	(2.07)	10.40
PAVLX	0.95	0.07	(0.07)	1.49	(2.14)	9.30
TACLX	1.01	0.06	(0.08)	1.49	(1.76)	10.03
DOXGX	0.96	(0.15)	1.59	1.43	(1.92)	10.68
PCLVX	0.89	0.06	(0.07)	1.53	(1.82)	9.33

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