Allianzgi Nfj Correlations

Mutual Funds . USA . 
Fund . Allianzgi Nfj Dividend
PNECX Fund  USD 10.86  0.02  0.18%   
The current 90-days correlation between Allianzgi Nfj Dividend and Allianzgi Nfj International is -0.17 (i.e., Good 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

Very poor diversification

The correlation between Allianzgi Nfj Dividend and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Nfj Dividend and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Allianzgi Nfj Dividend. 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

  0.95ANJIX Allianzgi Nfj InternPairCorr
  0.97ANNPX Allianzgi ConvertiblePairCorr
  0.75ANPRX Allianzgi Nfj MidPairCorr
  0.96PGFIX Allianzgi Focused GrowthPairCorr
  0.78ANVIX Allianzgi Nfj LargePairCorr
  0.97ANZCX Allianzgi ConvertiblePairCorr
  0.97ANZAX Allianzgi ConvertiblePairCorr
  0.77PGWCX Allianzgi Focused GrowthPairCorr
  0.77PGWAX Allianzgi Focused GrowthPairCorr
  0.91AOPAX Allianzgi InternationalPairCorr
  0.91AOPCX Allianzgi InternationalPairCorr
  0.96AOTIX Allianzgi EmergingPairCorr
  0.95AOTAX Allianzgi EmergingPairCorr
  0.96AOTCX Allianzgi EmergingPairCorr
  0.96RAGTX Allianzgi TechnologyPairCorr
  0.96ASCFX Allianzgi Small CapPairCorr
  0.95ASHIX Allianzgi Short DurationPairCorr
  0.95ASHAX Allianzgi Short DurationPairCorr
  0.95ASHCX Allianzgi Short DurationPairCorr
  0.96RCGTX Allianzgi TechnologyPairCorr
  1.0PNBAX Allianzgi Nfj LargePairCorr
  1.0PNBCX Allianzgi Nfj LargePairCorr
  0.97PNEAX Allianzgi Nfj DividendPairCorr
  1.0NFJEX Allianzgi Nfj DividendPairCorr
  0.76DRGTX Allianzgi TechnologyPairCorr
  0.76DRMCX Allianzgi Mid CapPairCorr
  0.75AWTAX Allianzgi Global WaterPairCorr
  0.75AWTCX Allianzgi Global WaterPairCorr
  0.76AWTIX Allianzgi Global WaterPairCorr
  0.95AFJAX Allianzgi Nfj InternPairCorr
  0.95AFJCX Allianzgi Nfj InternPairCorr
  0.96RGLIX Allianzgi Global NaturalPairCorr
  0.89RGSCX Allianzgi Global SmallPairCorr
  0.9RGSAX Allianzgi Global SmallPairCorr
  0.98PQNCX Allianzgi Nfj MidPairCorr
  0.75PQNAX 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.
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  0.16  0.17  0.52  0.00 
(0.54)
 1.18 
(0.81)
 2.61 
ANPRX  0.79  0.23  0.08 (1.26) 0.67 
(0.91)
 2.03 
(1.16)
 6.28 
PGFIX  0.83  0.34  0.19 (23.63) 0.71 
(1.01)
 2.54 
(1.50)
 5.92 
ANVIX  0.61  0.26  0.15 (2.07) 0.31 
(0.74)
 1.73 
(0.95)
 5.05 
ANZCX  0.42  0.16  0.16  0.50  0.00 
(0.51)
 1.19 
(0.82)
 2.63 
ANZAX  0.42  0.15  0.15  0.49  0.00 
(0.50)
 1.19 
(0.81)
 2.61 
PGWCX  0.76  0.44  0.41  11.89  0.00 
(1.02)
 2.51 
(1.11)
 5.92 
PGWAX  0.76  0.44  0.44  12.55  0.00 
(1.02)
 2.54 
(1.10)
 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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