Alger Midcap Correlations

Mutual Funds . USA . 
Fund . Alger Midcap Growth
AMGCX Fund  USD 9.54  0.06  0.63%   
The current 90-days correlation between Alger Midcap Growth and Dreyfus Government Cash is 0.03 (i.e., Significant diversification). The correlation of Alger Midcap 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 Midcap Correlation With Market

Good diversification

The correlation between Alger Midcap Growth and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Midcap Growth 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 Midcap Growth. 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 main economic indicators.

Moving together with Alger Mutual Fund

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

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   
FICMX
+ 0.98
AUGAX
IVMXX
+ 0.82
DVPXX
UGSDX
+ 0.74
IVMXX
UGSDX
+ 0.61
DVPXX
UGSDX
+ 0.53
AUGAX
UGSDX
+ 0.53
FICMX
  
High negative correlations   
AUGAX
- 0.4
RYAQX
FICMX
- 0.39
RYAQX

Risk-Adjusted Indicators

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