Allianzgi Nfj Correlations

Mutual Funds USA . 
Fund . Allianzgi Nfj Emerging
AZMIX Fund  USD 18.30  0.16  0.88%   
The current 90-days correlation between Allianzgi Nfj Emerging and Allianzgi Nfj International is 0.03 (i.e., Significant 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 Emerging and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Nfj Emerging 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 Emerging. 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

  0.97ANNPX Allianzgi ConvertiblePairCorr
  0.93ANPRX Allianzgi Nfj MidPairCorr
  0.96PGFIX Allianzgi Focused GrowthPairCorr
  0.96ANVIX Allianzgi Nfj LargePairCorr
  0.97ANZCX Allianzgi ConvertiblePairCorr
  0.97ANZAX Allianzgi ConvertiblePairCorr
  0.98PGWCX Allianzgi Focused GrowthPairCorr
  0.96PGWAX Allianzgi Focused GrowthPairCorr
  0.93AOPAX Allianzgi InternationalPairCorr
  0.94AOPCX Allianzgi InternationalPairCorr
  0.99AOTIX Allianzgi EmergingPairCorr
  0.98AOTAX Allianzgi EmergingPairCorr
  0.99AOTCX Allianzgi EmergingPairCorr
  0.97RAGTX Allianzgi TechnologyPairCorr
  0.97ASCFX Allianzgi Small CapPairCorr
  0.96ASHIX Allianzgi Short DurationPairCorr
  0.96ASHAX Allianzgi Short DurationPairCorr
  0.96ASHCX Allianzgi Short DurationPairCorr
  0.98RCGTX Allianzgi TechnologyPairCorr
  0.96PNBCX Allianzgi Nfj LargePairCorr
  0.94PNECX Allianzgi Nfj DividendPairCorr
  0.93PNEAX Allianzgi Nfj DividendPairCorr
  0.94NFJEX 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
  0.96AFJAX Allianzgi Nfj InternPairCorr
  0.96AFJCX Allianzgi Nfj InternPairCorr
  0.97RGLIX Allianzgi Global NaturalPairCorr
  0.93RGSCX Allianzgi Global SmallPairCorr
  0.93RGSAX Allianzgi Global SmallPairCorr
  0.94PQNCX Allianzgi Nfj MidPairCorr
  0.93PQNAX Allianzgi Nfj MidPairCorr
  0.94PRNIX Allianzgi Nfj MidPairCorr
  0.97AZBIX Allianzgi Small CapPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ANJIX  0.57  0.24  0.15 (3.35) 0.24 
(0.68)
 1.12 
(0.95)
 5.55 
ANNPX  0.43  0.23  0.19 (5.36) 0.00 
(0.56)
 1.18 
(0.81)
 2.61 
ANPRX  0.83  0.21  0.06 (1.22) 0.75 
(0.95)
 2.03 
(1.64)
 6.28 
PGFIX  0.83  0.34  0.19 (23.63) 0.71 
(1.01)
 2.54 
(1.50)
 5.92 
ANVIX  0.64  0.07  0.06  0.21  0.53 
(0.74)
 1.73 
(1.12)
 5.05 
ANZCX  0.42  0.16  0.16  0.50  0.00 
(0.51)
 1.19 
(0.82)
 2.63 
ANZAX  0.43  0.23  0.17 (5.20) 0.00 
(0.52)
 1.19 
(0.81)
 2.61 
PGWCX  0.84  0.20  0.18  0.33  0.72 
(1.00)
 2.51 
(1.51)
 5.92 
PGWAX  0.83  0.34  0.19 (25.69) 0.71 
(1.01)
 2.54 
(1.50)
 5.92 
AOPAX  0.47  0.23  0.20 (10.26) 0.00 
(0.59)
 1.05 
(0.67)
 2.67 

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