Alger Emerging Correlations

Mutual Funds USA . 
Fund . Alger Emerging Markets
AIEMX Fund  USD 12.00  0.03  0.25%   
The current 90-days correlation between Alger Emerging Markets and Alger Midcap Growth is 0.58 (i.e., Very weak 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

Significant diversification

The correlation between Alger Emerging Markets and DJI is 0.02 (i.e., Significant 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

  0.98AMGAX Alger Midcap GrowthPairCorr
  0.98AMGCX Alger Midcap GrowthPairCorr
  0.97AMGOX Alger Mid CapPairCorr
  0.96AOFYX Alger Small CapPairCorr
  0.96AOFIX Alger Small CapPairCorr
  0.96AOFAX Alger Small CapPairCorr
  0.96AOFCX Alger Small CapPairCorr
  0.99CHUSX Alger Global GrowthPairCorr
  0.98CHUCX Alger Global GrowthPairCorr
  1.0AAEMX Alger Emerging MarketsPairCorr
  0.98AAGOX Alger Large CapPairCorr
  0.98AAICX Alger Ai EnablersPairCorr
  0.98AAIYX Alger Mid CapPairCorr
  0.98ASCYX Alger FundsPairCorr
  0.97ASCZX Alger Smallcap GrowthPairCorr
  0.97AASOX Alger Small CapPairCorr
  0.98ASIRX Alger Smallcap GrowthPairCorr
  0.95ASIMX Alger Smidcap FocusPairCorr
  0.96ASMZX Alger Smidcap FocusPairCorr
  0.98ASPCX Alger SpectraPairCorr
  0.98ASPZX Alger SpectraPairCorr
  0.98ASPYX Alger SpectraPairCorr
  0.98ASPIX Alger SpectraPairCorr
  0.96ASYMX Alger Weatherbie SpePairCorr
  0.98ABLOX Alger Balanced PortfolioPairCorr
  0.98ACAYX Alger Capital ApprecPairCorr
  0.98ACAZX Alger Capital ApprecPairCorr
  0.98ACARX Alger Capital ApprecPairCorr
  0.98ACAAX Alger Capital ApprecPairCorr
  0.98ATVPX Alger 35 FundPairCorr
  1.0ACEMX Alger Emerging MarketsPairCorr
  0.98ACIZX Alger Capital ApprecPairCorr
  0.93ADOCX Alger Dynamic OpportPairCorr
  0.93ADOZX Alger Dynamic OpportPairCorr
  0.98CNEIX Alger Concentrated EquityPairCorr
  0.98CNEYX Alger Concentrated EquityPairCorr
  0.98CNEZX Alger Concentrated EquityPairCorr
  0.98AFGZX Alger Global GrowthPairCorr
  0.99AFGPX Alger InternationalPairCorr
  0.99AFGIX Alger Global GrowthPairCorr

Related Correlations Analysis

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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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AMGAX  0.90  0.36  0.15 (1.29) 0.74 
(1.00)
 2.53 
(1.30)
 5.74 
AMGCX  0.90  0.36  0.15 (1.25) 0.78 
(1.00)
 2.55 
(1.29)
 5.75 
AMGOX  0.90  0.18  0.14  0.31  0.72 
(0.98)
 2.62 
(1.40)
 5.79 
AOFYX  1.06  0.23  0.06 (1.64) 1.01 
(1.23)
 2.58 
(2.14)
 6.55 
AOFIX  1.06  0.23  0.06 (1.57) 1.00 
(1.19)
 2.61 
(2.11)
 6.55 
AOFAX  1.10  0.23  0.06 (1.67) 1.05 
(1.27)
 2.57 
(2.13)
 6.54 
AOFCX  1.06  0.23  0.05 (1.55) 1.01 
(1.19)
 2.61 
(2.11)
 6.66 
CHUSX  0.64  0.30  0.19 (1.96) 0.26 
(0.78)
 1.99 
(1.16)
 3.93 
CHUCX  0.62  0.17  0.18  0.37  0.20 
(0.75)
 2.01 
(1.00)
 3.89 
AAEMX  0.52  0.22  0.11 (79.89) 0.15 
(0.66)
 1.81 
(1.11)
 4.01 

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