Alger Capital Correlations
| ALAFX Fund | USD 94.53 0.95 1.02% |
The current 90-days correlation between Alger Capital Apprec and Alger Capital Appreciation is -0.03 (i.e., Good 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
Very weak diversification
The correlation between Alger Capital Appreciation and DJI is 0.47 (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.
Alger |
Moving together with Alger Mutual Fund
| 0.99 | AMGAX | Alger Midcap Growth | PairCorr |
| 0.99 | AMGCX | Alger Midcap Growth | PairCorr |
| 0.85 | AMGOX | Alger Mid Cap | PairCorr |
| 0.83 | AOFAX | Alger Small Cap | PairCorr |
| 0.94 | AOFCX | Alger Small Cap | PairCorr |
| 0.99 | CHUCX | Alger Global Growth | PairCorr |
| 0.76 | ASCZX | Alger Smallcap Growth | PairCorr |
| 0.87 | ACAZX | Alger Capital Apprec | PairCorr |
| 1.0 | CNEYX | Alger Concentrated Equity | PairCorr |
| 1.0 | CNEZX | Alger Concentrated Equity | PairCorr |
| 0.85 | AFGZX | Alger Global Growth | PairCorr |
| 1.0 | SPECX | Alger Spectra | PairCorr |
| 0.87 | ALCFX | Alger Capital Apprec | PairCorr |
Related Correlations Analysis
| 1.0 | 0.87 | 0.85 | 0.86 | ALCFX | ||
| 1.0 | 0.87 | 0.85 | 0.86 | ALGRX | ||
| 0.87 | 0.87 | 0.72 | 0.99 | ALZFX | ||
| 0.85 | 0.85 | 0.72 | 0.72 | ACSLX | ||
| 0.86 | 0.86 | 0.99 | 0.72 | ASERX | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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 | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ALCFX | 0.91 | 0.50 | 0.46 | 8.72 | 0.00 | 2.65 | 7.27 | |||
| ALGRX | 0.91 | 0.50 | 0.47 | 8.88 | 0.00 | 2.66 | 7.25 | |||
| ALZFX | 0.92 | 0.43 | 0.49 | 0.78 | 0.00 | 2.66 | 7.26 | |||
| ACSLX | 0.74 | 0.34 | 0.30 | 3.45 | 0.00 | 2.41 | 6.01 | |||
| ASERX | 0.72 | 0.24 | 0.26 | 0.51 | 0.09 | 1.53 | 6.00 |