Alger Spectra Correlations
The current 90-days correlation between Alger Spectra and T Rowe Price is -0.14 (i.e., Good 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
Good diversification
The correlation between Alger Spectra and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Alger Spectra 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 |
0.88 | AMGOX | Alger Mid Cap | PairCorr |
0.86 | AOFYX | Alger Small Cap | PairCorr |
0.85 | AOFIX | Alger Small Cap | PairCorr |
0.93 | AOFAX | Alger Small Cap | PairCorr |
0.99 | CHUSX | Alger Global Growth | PairCorr |
0.99 | CHUCX | Alger Global Growth | PairCorr |
0.97 | AAEMX | Alger Emerging Markets | PairCorr |
0.88 | ASCZX | Alger Smallcap Growth | PairCorr |
0.98 | AASOX | Alger Small Cap | PairCorr |
0.83 | ASIMX | Alger Smidcap Focus | PairCorr |
0.96 | ASMZX | Alger Smidcap Focus | PairCorr |
0.97 | ACEMX | Alger Emerging Markets | PairCorr |
0.93 | ADOCX | Alger Dynamic Opport | PairCorr |
0.81 | ADOZX | Alger Dynamic Opport | PairCorr |
0.89 | CNEIX | Alger Concentrated Equity | PairCorr |
1.0 | CNEYX | Alger Concentrated Equity | PairCorr |
0.89 | CNEZX | Alger Concentrated Equity | PairCorr |
0.88 | AGIZX | Alger Growth Income | PairCorr |
1.0 | AGIFX | Alger Responsible | PairCorr |
1.0 | AIFAX | Alger Ai Enablers | PairCorr |
0.88 | AIGOX | Alger Growth Income | PairCorr |
0.87 | AIGIX | Alger International | PairCorr |
1.0 | SPEGX | Alger Responsible | PairCorr |
1.0 | ALAFX | Alger Capital Apprec | PairCorr |
0.89 | ALCFX | Alger Capital Apprec | PairCorr |
0.89 | ALGRX | Alger Capital Apprec | PairCorr |
0.89 | ALSAX | Alger Smallcap Growth | PairCorr |
0.89 | ALZFX | Alger Capital Apprec | PairCorr |
0.89 | FAFGX | American Funds | PairCorr |
0.89 | FFAFX | American Funds | PairCorr |
0.99 | GFACX | Growth Fund | PairCorr |
0.89 | GFAFX | Growth Fund | PairCorr |
0.99 | AGTHX | Growth Fund | PairCorr |
0.99 | CGFFX | Growth Fund | PairCorr |
0.99 | CGFCX | Growth Fund | PairCorr |
0.99 | CGFAX | Growth Fund | PairCorr |
0.99 | CGFEX | Growth Fund | PairCorr |
Related Correlations Analysis
0.54 | 0.57 | 0.52 | 0.59 | 0.76 | RRMGX | ||
0.54 | 0.96 | 0.99 | 0.99 | 0.39 | SWSCX | ||
0.57 | 0.96 | 0.96 | 0.97 | 0.36 | FMCRX | ||
0.52 | 0.99 | 0.96 | 0.97 | 0.33 | RPMGX | ||
0.59 | 0.99 | 0.97 | 0.97 | 0.46 | OWLLX | ||
0.76 | 0.39 | 0.36 | 0.33 | 0.46 | FTHNX | ||
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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.Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
---|---|---|---|---|---|---|---|---|---|---|
RRMGX | 0.60 | (0.01) | (0.06) | 0.22 | 0.66 | 1.26 | 5.90 | |||
SWSCX | 0.89 | 0.32 | 0.03 | (1.11) | 0.89 | 2.19 | 6.23 | |||
FMCRX | 0.74 | 0.01 | 0.03 | 0.24 | 0.56 | 2.11 | 6.15 | |||
RPMGX | 0.68 | 0.28 | 0.00 | (1.03) | 0.65 | 1.87 | 5.91 | |||
OWLLX | 1.03 | 0.42 | 0.11 | (1.48) | 0.74 | 2.67 | 7.42 | |||
FTHNX | 0.78 | 0.23 | (0.03) | (1.91) | 0.67 | 1.66 | 5.56 |