Allianz Global Correlations

Mutual Funds . USA . 
Fund . Allianz Global Investors
AVSCX Fund  USD 11.00  0.06  0.54%   
The current 90-days correlation between Allianz Global Investors and Intermediate Term Tax Free Bond is 0.11 (i.e., Average diversification). The correlation of Allianz Global 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.

Allianz Global Correlation With Market

Poor diversification

The correlation between Allianz Global Investors and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianz Global Investors 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 Allianz Global Investors. 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 Allianz Mutual Fund

  0.95ANAVX Allianzgi Nfj InternPairCorr
  0.96ANDVX Allianzgi Nfj DividendPairCorr
  0.96ANFVX Allianzgi Nfj SmallPairCorr
  0.95ASHSX Allianzgi Short DurationPairCorr
  0.97AEMOX Allianzgi EmergingPairCorr
  0.98AFGFX Allianzgi Focused GrowthPairCorr
  0.65AGASX Allianzgi Global AllPairCorr
  0.92AIISX Allianzgi InternationalPairCorr
  0.99VSMAX Vanguard Small CapPairCorr
  0.99VSCIX Vanguard Small CapPairCorr
  0.99VSCPX Vanguard Small CapPairCorr
  0.99NAESX Vanguard Small CapPairCorr
  1.0FSSNX Fidelity Small CapPairCorr
  0.99DFSTX Us Small CapPairCorr
  0.99PASVX T Rowe PricePairCorr
  0.97PRVIX T Rowe PricePairCorr
  0.99TRZVX T Rowe PricePairCorr
  0.99PRSVX T Rowe PricePairCorr
  0.88MGGYX Mirova Global GreenPairCorr
  0.93HLDIX Hartford EmergingPairCorr
  0.93HLDRX Hartford EmergingPairCorr
  0.94HLDAX Hartford EmergingPairCorr
  0.94HLDCX Hartford EmergingPairCorr
  0.93HLDTX Hartford EmergingPairCorr
  0.97AAESX Invesco Growth AllocationPairCorr
  0.98HRCSX Harbor Vertible SecuPairCorr
  0.97OARDX Oppenheimer RisingPairCorr
  0.97TAHTX Transamerica High YieldPairCorr
  0.94VYRIX Vy T RowePairCorr
  0.97AVCNX American Century EtfPairCorr
  0.97WFPDX Wells Fargo PremierPairCorr
  0.98TRSJX T Rowe PricePairCorr
  0.95OEGYX Oppenhmr Discovery MidPairCorr
  0.94NGDRX Neuberger Berman GuardianPairCorr
  0.67SGINX Deutsche GnmaPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Allianz Mutual Fund performing well and Allianz Global 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 Allianz Global'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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