Allianzgi Global Correlations

Mutual Funds . USA . 
Fund . Allianzgi Global Water
AWTIX Fund  USD 20.56  0.05  0.24%   
The current 90-days correlation between Allianzgi Global Water and Lord Abbett Short is -0.01 (i.e., Good diversification). The correlation of Allianzgi 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.

Allianzgi Global Correlation With Market

Good diversification

The correlation between Allianzgi Global Water and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Global Water 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 Global Water. 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 gross domestic product.

Moving together with Allianzgi Mutual Fund

  0.74ANJIX Allianzgi Nfj InternPairCorr
  0.93ANNPX Allianzgi ConvertiblePairCorr
  0.69ANPRX Allianzgi Nfj MidPairCorr
  0.79PGFIX Allianzgi Focused GrowthPairCorr
  0.76ANVIX Allianzgi Nfj LargePairCorr
  0.93ANZCX Allianzgi ConvertiblePairCorr
  0.74ANZAX Allianzgi ConvertiblePairCorr
  0.95PGWCX Allianzgi Focused GrowthPairCorr
  0.95PGWAX Allianzgi Focused GrowthPairCorr
  0.68AOPAX Allianzgi InternationalPairCorr
  0.69AOPCX Allianzgi InternationalPairCorr
  0.71AOTIX Allianzgi EmergingPairCorr
  0.72AOTAX Allianzgi EmergingPairCorr
  0.71AOTCX Allianzgi EmergingPairCorr
  0.75RAGTX Allianzgi TechnologyPairCorr
  0.71ASCFX Allianzgi Small CapPairCorr
  0.72ASHIX Allianzgi Short DurationPairCorr
  0.73ASHAX Allianzgi Short DurationPairCorr
  0.73ASHCX Allianzgi Short DurationPairCorr
  0.75RCGTX Allianzgi TechnologyPairCorr
  0.76PNBAX Allianzgi Nfj LargePairCorr
  0.76PNBCX Allianzgi Nfj LargePairCorr
  0.76PNECX Allianzgi Nfj DividendPairCorr
  0.74PNEAX Allianzgi Nfj DividendPairCorr
  0.76NFJEX Allianzgi Nfj DividendPairCorr
  0.76DRGTX Allianzgi TechnologyPairCorr
  0.73DRMCX Allianzgi Mid CapPairCorr
  1.0AWTAX Allianzgi Global WaterPairCorr
  0.69AWTCX Allianzgi Global WaterPairCorr
  0.73AFJAX Allianzgi Nfj InternPairCorr
  0.73AFJCX Allianzgi Nfj InternPairCorr
  0.79RGLIX Allianzgi Global NaturalPairCorr
  0.91RGSCX Allianzgi Global SmallPairCorr
  0.67RGSAX Allianzgi Global SmallPairCorr
  0.69PQNCX Allianzgi Nfj MidPairCorr
  0.69PQNAX 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 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 Allianzgi 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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