Allianzgi Convertible Correlations

Mutual Funds . USA . 
Fund . Allianzgi Vertible Fund
ANNPX Fund  USD 38.29  0.07  0.18%   
The current 90-days correlation between Allianzgi Convertible and Morgan Stanley Multi is 0.84 (i.e., Very poor diversification). The correlation of Allianzgi Convertible 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 Convertible Correlation With Market

Poor diversification

The correlation between Allianzgi Vertible Fund and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Vertible 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 Allianzgi Vertible 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 american community survey.

Moving together with Allianzgi Mutual Fund

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