Alger Spectra Correlations

Mutual Funds . USA . 
Fund . Alger Spectra Fund
ASPIX Fund  USD 33.58  0.16  0.48%   
The current 90-days correlation between Alger Spectra and Ab Select Equity is 0.78 (i.e., Poor diversification). The correlation of Alger Spectra 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 Spectra Correlation With Market

Very weak diversification

The correlation between Alger Spectra Fund and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Spectra Fund 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 Spectra Fund. 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 gross domestic product.

Moving together with Alger Mutual Fund

  0.99AMGAX Alger Midcap GrowthPairCorr
  0.98AMGCX Alger Midcap GrowthPairCorr
  0.87AMGOX Alger Mid CapPairCorr
  0.85AOFYX Alger Small CapPairCorr
  0.93AOFIX Alger Small CapPairCorr
  0.94AOFAX Alger Small CapPairCorr
  0.93AOFCX Alger Small CapPairCorr
  0.99CHUSX Alger Global GrowthPairCorr
  0.99CHUCX Alger Global GrowthPairCorr
  0.97AAEMX Alger Emerging MarketsPairCorr
  0.88AAGOX Alger Large CapPairCorr
  0.89AAICX Alger Ai EnablersPairCorr
  0.89AAIZX Alger Ai EnablersPairCorr
  1.0AAIYX Alger Mid CapPairCorr
  0.98ASCYX Alger FundsPairCorr
  0.98AASOX Alger Small CapPairCorr
  0.61ASIRX Alger Smallcap GrowthPairCorr
  0.81ASIMX Alger Smidcap FocusPairCorr
  0.81ASMZX Alger Smidcap FocusPairCorr
  1.0ASPCX Alger SpectraPairCorr
  1.0ASPZX Alger SpectraPairCorr
  1.0ASPYX Alger SpectraPairCorr
  0.88ABLOX Alger Balanced PortfolioPairCorr
  0.88ACAZX Alger Capital ApprecPairCorr
  1.0ACARX Alger Capital ApprecPairCorr
  1.0ACAAX Alger Capital ApprecPairCorr
  0.88ATVPX Alger 35 FundPairCorr
  0.93ADOCX Alger Dynamic OpportPairCorr
  0.79ADOZX Alger Dynamic OpportPairCorr
  1.0CNEIX Alger Concentrated EquityPairCorr
  1.0CNEYX Alger Concentrated EquityPairCorr
  1.0CNEZX Alger Concentrated EquityPairCorr
  0.88AFGZX Alger Global GrowthPairCorr
  0.97AFGPX Alger InternationalPairCorr
  0.88AFGIX 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 Spectra 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 Spectra'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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