Alger Growth Correlations

Mutual Funds . USA . 
Fund . Alger Growth Income
ALBCX Fund  USD 89.05  0.09  0.10%   
The current 90-days correlation between Alger Growth Income and Alger Midcap Growth is 0.74 (i.e., Poor diversification). The correlation of Alger Growth 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 Growth Correlation With Market

Good diversification

The correlation between Alger Growth Income and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Growth Income 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 Growth Income. 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 interest.

Moving together with Alger Mutual Fund

  0.78AMGAX Alger Midcap GrowthPairCorr
  0.66AMGCX Alger Midcap GrowthPairCorr
  0.79AMGOX Alger Mid CapPairCorr
  0.95AOFYX Alger Small CapPairCorr
  0.95AOFIX Alger Small CapPairCorr
  0.95AOFAX Alger Small CapPairCorr
  0.95AOFCX Alger Small CapPairCorr
  0.98AAEMX Alger Emerging MarketsPairCorr
  0.94AAGOX Alger Large CapPairCorr
  0.96AAICX Alger Ai EnablersPairCorr
  0.96AAIZX Alger Ai EnablersPairCorr
  0.96AAIYX Alger Mid CapPairCorr
  0.94ASCYX Alger FundsPairCorr
  0.94ASCZX Alger Smallcap GrowthPairCorr
  0.94AASOX Alger Small CapPairCorr
  0.91ASIRX Alger Smallcap GrowthPairCorr
  0.95ASPCX Alger SpectraPairCorr
  0.96ASPZX Alger SpectraPairCorr
  0.96ASPYX Alger SpectraPairCorr
  0.96ASPIX Alger SpectraPairCorr
  0.87ABLOX Alger Balanced PortfolioPairCorr
  0.96ACAYX Alger Capital ApprecPairCorr
  0.96ACAZX Alger Capital ApprecPairCorr
  0.96ACARX Alger Capital ApprecPairCorr
  0.96ACAAX Alger Capital ApprecPairCorr
  0.86ATVPX Alger 35 FundPairCorr
  0.98ACEMX Alger Emerging MarketsPairCorr
  0.96ACIZX Alger Capital ApprecPairCorr
  0.95CNEIX Alger Concentrated EquityPairCorr
  0.95CNEYX Alger Concentrated EquityPairCorr
  0.8AFGPX Alger InternationalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Alger Mutual Fund performing well and Alger Growth 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 Growth'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  0.84  0.02 (0.07)(0.16) 1.13 
(0.86)
 1.43 
(1.68)
 5.28 
AMGCX  0.84 (0.13) 0.00 (0.01) 0.00 
 0.00 
 1.45 
(1.70)
 5.24 
AMGOX  0.86  0.02 (0.07)(0.17) 1.18 
(0.86)
 1.47 
(1.75)
 5.47 
AOFYX  1.11  0.17  0.04 (0.90) 1.25 
(1.15)
 2.64 
(2.19)
 5.88 
AOFIX  1.10  0.17  0.04 (0.87) 1.27 
(1.15)
 2.68 
(2.18)
 5.89 
AOFAX  1.10  0.17  0.04 (0.95) 1.25 
(1.15)
 2.67 
(2.19)
 5.85 
AOFCX  1.11  0.17  0.04 (0.91) 1.28 
(1.15)
 2.68 
(2.20)
 5.84 
CHUSX  0.71  0.01  0.00  0.07  0.00 
 0.00 
 1.46 
(1.55)
 5.52 
CHUCX  0.71  0.00  0.00  0.09  0.00 
 0.00 
 1.48 
(1.55)
 5.52 
AAEMX  0.67  0.12  0.02 (1.80) 0.79 
(0.74)
 1.39 
(0.91)
 5.00 

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