Allianzgi Focused Correlations

Mutual Funds . USA . 
Fund . Allianzgi Focused Growth
AFGFX Fund  USD 83.91  0.20  0.24%   
The current 90-days correlation between Allianzgi Focused Growth and Janus High Yield Fund is 0.64 (i.e., Poor diversification). The correlation of Allianzgi Focused 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.

Allianzgi Focused Correlation With Market

Almost no diversification

The correlation between Allianzgi Focused Growth and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Focused 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 Allianzgi Focused 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 census.

Moving together with Allianzgi Mutual Fund

  0.96ANAVX Allianzgi Nfj InternPairCorr
  0.98ANDVX Allianzgi Nfj DividendPairCorr
  0.96ANFVX Allianzgi Nfj SmallPairCorr
  0.97ASHSX Allianzgi Short DurationPairCorr
  0.98AVSCX Allianz Global InvestorsPairCorr
  0.97AEMOX Allianzgi EmergingPairCorr
  0.99AGASX Allianzgi Global AllPairCorr
  0.94AIISX Allianzgi InternationalPairCorr
  1.0FAFGX American FundsPairCorr
  1.0FFAFX American FundsPairCorr
  1.0GFACX Growth FundPairCorr
  1.0GFAFX Growth FundPairCorr
  1.0AGTHX Growth FundPairCorr
  1.0CGFFX Growth FundPairCorr
  1.0CGFCX Growth FundPairCorr
  1.0CGFAX Growth FundPairCorr
  1.0CGFEX Growth FundPairCorr
  1.0RGAEX Growth FundPairCorr
  0.79NHS Neuberger Berman HighPairCorr
  0.99MIGFX Massachusetts InvestorsPairCorr
  0.93PYEMX Payden Emerging MarketsPairCorr
  0.99JFQUX Jpmorgan InvestorPairCorr
  0.98GVALX Gotham Large ValuePairCorr
  0.91PSHAX Short Term FundPairCorr
  0.74PFRSX Real Estate SecuritiesPairCorr
  0.99CBLSX Cb Large CapPairCorr
  0.93SITEX Sit Emerging MarketsPairCorr
  0.91PRIKX T Rowe PricePairCorr
  0.77FPHAX Pharmaceuticals PortfolioPairCorr
  0.99OBMCX Oberweis Micro CapPairCorr
  1.0VFINX Vanguard 500 IndexPairCorr
  0.99HSIIX Eagle Small CapPairCorr
  0.78NREEX Neuberger Berman RealPairCorr
  0.97BGEFX Baillie Gifford EafePairCorr
  0.67VCMDX Vanguard CommodityPairCorr
  1.0VFIAX Vanguard 500 IndexPairCorr
  0.98URFRX Target Retirement 2040PairCorr
  0.98WPGTX Wpg Partners SmallmicroPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Focused 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 Allianzgi Focused'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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