Alger Spectra Correlations

Mutual Funds . USA . 
Fund . Alger Spectra
ASPYX Fund  USD 35.55  0.15  0.42%   
The current 90-days correlation between Alger Spectra and T Rowe Price is -0.07 (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.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Alger Spectra. 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 manufacturing.

Moving together with Alger Mutual Fund

  0.99AMGCX Alger Midcap GrowthPairCorr
  0.88AMGOX Alger Mid CapPairCorr
  0.86AOFYX Alger Small CapPairCorr
  0.85AOFIX Alger Small CapPairCorr
  0.93AOFAX Alger Small CapPairCorr
  0.99CHUSX Alger Global GrowthPairCorr
  0.99CHUCX Alger Global GrowthPairCorr
  0.97AAEMX Alger Emerging MarketsPairCorr
  0.88ASCZX Alger Smallcap GrowthPairCorr
  0.98AASOX Alger Small CapPairCorr
  0.83ASIMX Alger Smidcap FocusPairCorr
  0.96ASMZX Alger Smidcap FocusPairCorr
  0.97ACEMX Alger Emerging MarketsPairCorr
  0.93ADOCX Alger Dynamic OpportPairCorr
  0.81ADOZX Alger Dynamic OpportPairCorr
  0.89CNEIX Alger Concentrated EquityPairCorr
  1.0CNEYX Alger Concentrated EquityPairCorr
  0.89CNEZX Alger Concentrated EquityPairCorr
  0.88AGIZX Alger Growth IncomePairCorr
  1.0AGIFX Alger ResponsiblePairCorr
  1.0AIFAX Alger Ai EnablersPairCorr
  0.88AIGOX Alger Growth IncomePairCorr
  0.87AIGIX Alger InternationalPairCorr
  1.0SPEGX Alger ResponsiblePairCorr
  1.0ALAFX Alger Capital ApprecPairCorr
  0.89ALCFX Alger Capital ApprecPairCorr
  0.89ALGRX Alger Capital ApprecPairCorr
  0.89ALSAX Alger Smallcap GrowthPairCorr
  0.89ALZFX Alger Capital ApprecPairCorr
  0.89FAFGX American FundsPairCorr
  0.89FFAFX American FundsPairCorr
  0.99GFACX Growth FundPairCorr
  0.99AGTHX Growth FundPairCorr
  0.99CGFFX Growth FundPairCorr
  0.99CGFCX Growth FundPairCorr
  0.99CGFAX Growth FundPairCorr
  0.99CGFEX Growth FundPairCorr

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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