Allianzgi Nfj Correlations

Mutual Funds . USA . 
Fund . Allianzgi Nfj International
AFJCX Fund  USD 22.12  0.10  0.45%   
The current 90-days correlation between Allianzgi Nfj Intern and Ab Select Longshort is 0.43 (i.e., Very weak diversification). The correlation of Allianzgi Nfj 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 Nfj Correlation With Market

Weak diversification

The correlation between Allianzgi Nfj International and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Nfj International 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 Nfj International. 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 Allianzgi Mutual Fund

  1.0ANJIX Allianzgi Nfj InternPairCorr
  0.98ANNPX Allianzgi ConvertiblePairCorr
  0.94ANPRX Allianzgi Nfj MidPairCorr
  0.98PGFIX Allianzgi Focused GrowthPairCorr
  0.97ANVIX Allianzgi Nfj LargePairCorr
  0.98ANZCX Allianzgi ConvertiblePairCorr
  0.98ANZAX Allianzgi ConvertiblePairCorr
  0.98PGWCX Allianzgi Focused GrowthPairCorr
  0.98PGWAX Allianzgi Focused GrowthPairCorr
  0.95AOPAX Allianzgi InternationalPairCorr
  0.95AOPCX Allianzgi InternationalPairCorr
  0.99AOTIX Allianzgi EmergingPairCorr
  0.99AOTAX Allianzgi EmergingPairCorr
  0.99AOTCX Allianzgi EmergingPairCorr
  0.97RAGTX Allianzgi TechnologyPairCorr
  0.95ASCFX Allianzgi Small CapPairCorr
  0.97ASHIX Allianzgi Short DurationPairCorr
  0.95ASHAX Allianzgi Short DurationPairCorr
  0.95ASHCX Allianzgi Short DurationPairCorr
  0.97RCGTX Allianzgi TechnologyPairCorr
  0.97PNBAX Allianzgi Nfj LargePairCorr
  0.97PNBCX Allianzgi Nfj LargePairCorr
  0.96PNECX Allianzgi Nfj DividendPairCorr
  0.95PNEAX Allianzgi Nfj DividendPairCorr
  0.96NFJEX Allianzgi Nfj DividendPairCorr
  0.97DRGTX Allianzgi TechnologyPairCorr
  0.97DRMCX Allianzgi Mid CapPairCorr
  0.95AWTAX Allianzgi Global WaterPairCorr
  0.95AWTCX Allianzgi Global WaterPairCorr
  0.95AWTIX Allianzgi Global WaterPairCorr
  1.0AFJAX Allianzgi Nfj InternPairCorr
  0.97RGLIX Allianzgi Global NaturalPairCorr
  0.91RGSCX Allianzgi Global SmallPairCorr
  0.92RGSAX Allianzgi Global SmallPairCorr
  0.93PQNCX Allianzgi Nfj MidPairCorr
  0.94PQNAX Allianzgi Nfj MidPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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