Allianzgi Nfj Correlations

Mutual Funds . USA . 
Fund . Allianzgi Nfj Mid Cap
PQNCX Fund  USD 18.03  0.03  0.17%   
The current 90-days correlation between Allianzgi Nfj Mid and Eaton Vance Worldwide is 0.64 (i.e., Poor 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

Good diversification

The correlation between Allianzgi Nfj Mid Cap and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Nfj Mid Cap 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 Mid Cap. 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

  0.93ANJIX Allianzgi Nfj InternPairCorr
  0.96ANNPX Allianzgi ConvertiblePairCorr
  1.0ANPRX Allianzgi Nfj MidPairCorr
  0.96PGFIX Allianzgi Focused GrowthPairCorr
  0.98ANVIX Allianzgi Nfj LargePairCorr
  0.96ANZCX Allianzgi ConvertiblePairCorr
  0.96ANZAX Allianzgi ConvertiblePairCorr
  0.95PGWCX Allianzgi Focused GrowthPairCorr
  0.96PGWAX Allianzgi Focused GrowthPairCorr
  0.88AOPAX Allianzgi InternationalPairCorr
  0.87AOPCX Allianzgi InternationalPairCorr
  0.94AOTIX Allianzgi EmergingPairCorr
  0.94AOTAX Allianzgi EmergingPairCorr
  0.94RAGTX Allianzgi TechnologyPairCorr
  0.94ASCFX Allianzgi Small CapPairCorr
  0.92ASHIX Allianzgi Short DurationPairCorr
  0.94ASHAX Allianzgi Short DurationPairCorr
  0.94ASHCX Allianzgi Short DurationPairCorr
  0.94RCGTX Allianzgi TechnologyPairCorr
  0.98PNBAX Allianzgi Nfj LargePairCorr
  0.98PNBCX Allianzgi Nfj LargePairCorr
  0.98PNECX Allianzgi Nfj DividendPairCorr
  0.98PNEAX Allianzgi Nfj DividendPairCorr
  0.98NFJEX Allianzgi Nfj DividendPairCorr
  0.94DRGTX Allianzgi TechnologyPairCorr
  0.94DRMCX Allianzgi Mid CapPairCorr
  0.92AWTAX Allianzgi Global WaterPairCorr
  0.92AWTCX Allianzgi Global WaterPairCorr
  0.92AWTIX Allianzgi Global WaterPairCorr
  0.93AFJAX Allianzgi Nfj InternPairCorr
  0.93AFJCX Allianzgi Nfj InternPairCorr
  0.94RGLIX Allianzgi Global NaturalPairCorr
  0.93RGSCX Allianzgi Global SmallPairCorr
  0.93RGSAX Allianzgi Global SmallPairCorr
  1.0PQNAX Allianzgi Nfj MidPairCorr
  0.96PRNIX 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.

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