Allianzgi Nfj Correlations

AFJAX Fund

USD 18.31 0.05 0.27%

The current 90-days correlation between Allianzgi Nfj Intern and Allianzgi Nfj Dividend is 0.31 (i.e., Weak 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

Modest diversification

The correlation between Allianzgi Nfj International and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Nfj International 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 International. 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 nation.

Moving together with Allianzgi Mutual Fund

1.0	ANJIX	Allianzgi Nfj Intern	Pair Corr
0.88	AOPAX	Allianzgi International	Pair Corr
0.88	AOPCX	Allianzgi International	Pair Corr
0.92	AOTIX	Allianzgi Emerging	Pair Corr
0.92	AOTAX	Allianzgi Emerging	Pair Corr
0.95	AOTCX	Allianzgi Emerging	Pair Corr
0.83	RAGHX	Allianzgi Health Sciences	Pair Corr
0.83	HLHIX	Allianzgi Health Sciences	Pair Corr
0.93	ASTNX	Allianzgi Global Sus	Pair Corr
0.9	ASUAX	Allianzgi Global Sus	Pair Corr
0.83	RCGHX	Allianzgi Health Sciences	Pair Corr
0.65	AWTAX	Allianzgi Global Water	Pair Corr
0.65	AWTCX	Allianzgi Global Water	Pair Corr
0.64	AWTIX	Allianzgi Global Water	Pair Corr
1.0	AFJCX	Allianzgi Nfj Intern	Pair Corr

Moving against Allianzgi Mutual Fund

0.66	ANZCX	Allianzgi Vertible	Pair Corr
0.66	RAGTX	Allianzgi Technology	Pair Corr
0.65	ANNPX	Allianzgi Vertible	Pair Corr
0.65	ANZAX	Allianzgi Vertible	Pair Corr
0.54	PGWAX	Allianzgi Focused Growth	Pair Corr
0.52	PGFIX	Allianzgi Focused Growth	Pair Corr
0.66	RCGTX	Allianzgi Technology	Pair Corr
0.66	DRGTX	Allianzgi Technology	Pair Corr
0.65	DRMCX	Allianzgi Mid Cap	Pair Corr
0.53	AZNIX	Allianzgi Income Growth	Pair Corr
0.36	RGLIX	Allianzgi Global Natural	Pair Corr

Related Correlations Analysis

	NFJEX	ANJIX	ANNPX	ANPRX	PGFIX	DRMCX	ANVIX	AWTAX	AWTCX
NFJEX		0.27	0.18	0.96	0.32	0.21	0.97	0.86	0.85	NFJEX
ANJIX	0.27		-0.65	0.22	-0.51	-0.65	0.08	0.65	0.66	ANJIX
ANNPX	0.18	-0.65		0.34	0.89	0.98	0.38	-0.18	-0.19	ANNPX
ANPRX	0.96	0.22	0.34		0.47	0.37	0.97	0.82	0.81	ANPRX
PGFIX	0.32	-0.51	0.89	0.47		0.92	0.52	0.04	0.03	PGFIX
DRMCX	0.21	-0.65	0.98	0.37	0.92		0.43	-0.16	-0.17	DRMCX
ANVIX	0.97	0.08	0.38	0.97	0.52	0.43		0.74	0.73	ANVIX
AWTAX	0.86	0.65	-0.18	0.82	0.04	-0.16	0.74		1.0	AWTAX
AWTCX	0.85	0.66	-0.19	0.81	0.03	-0.17	0.73	1.0		AWTCX
	NFJEX	ANJIX	ANNPX	ANPRX	PGFIX	DRMCX	ANVIX	AWTAX	AWTCX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

AWTCX	+ 1.0	AWTAX
DRMCX	+ 0.98	ANNPX
ANVIX	+ 0.97	NFJEX
ANVIX	+ 0.97	ANPRX
ANPRX	+ 0.96	NFJEX
DRMCX	+ 0.92	PGFIX

High negative correlations

DRMCX	- 0.65	ANJIX
ANNPX	- 0.65	ANJIX
PGFIX	- 0.51	ANJIX
AWTCX	- 0.19	ANNPX
AWTAX	- 0.18	ANNPX
AWTCX	- 0.17	DRMCX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NFJEX	0.57	(0.13)	0.00	(0.14)	0.00	0.00	1.06	(0.98)	4.62
ANJIX	0.70	(0.09)	0.00	(0.30)	0.00	0.00	1.33	(2.34)	5.86
ANNPX	0.51	0.06	0.06	0.13	0.58	(0.60)	1.09	(0.89)	4.03
ANPRX	0.63	(0.10)	0.00	(0.07)	0.00	0.00	1.17	(0.99)	6.76
PGFIX	0.82	0.04	0.02	0.07	1.79	(0.73)	1.68	(1.54)	10.46
DRMCX	0.77	0.10	0.08	0.12	0.99	(0.92)	1.86	(1.32)	7.55
ANVIX	0.57	(0.10)	0.00	(0.09)	0.00	0.00	1.06	(0.94)	5.39
AWTAX	0.64	(0.25)	0.00	(0.20)	0.00	0.00	0.91	(0.92)	12.13
AWTCX	0.65	(0.26)	0.00	(0.21)	0.00	0.00	0.92	(0.94)	12.35

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