Allianzgi Nfj Correlations

ANFVX Fund

USD 14.76 0.29 2.00%

The current 90-days correlation between Allianzgi Nfj Small and Scharf Global Opportunity is 0.18 (i.e., Average 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

Poor diversification

The correlation between Allianzgi Nfj Small Cap and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Nfj Small Cap 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 Small 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 real.

Moving together with Allianzgi Mutual Fund

0.84	ANDVX	Allianzgi Nfj Dividend	Pair Corr
0.94	AFGFX	Allianzgi Focused Growth	Pair Corr
0.61	AGASX	Allianzgi Global All	Pair Corr
0.98	VSIIX	Vanguard Small Cap	Pair Corr
0.98	VISVX	Vanguard Small Cap	Pair Corr
0.98	DFSVX	Us Small Cap	Pair Corr
0.98	DFFVX	Us Targeted Value	Pair Corr
0.96	UBVCX	Undiscovered Managers	Pair Corr
0.96	UBVAX	Undiscovered Managers	Pair Corr
0.92	UBVSX	Undiscovered Managers	Pair Corr
0.94	AVFIX	American Beacon Small	Pair Corr
0.68	SMPIX	Semiconductor Ultrasector	Pair Corr
0.83	CISGX	Touchstone Sands Capital	Pair Corr
0.65	SMPSX	Semiconductor Ultrasector	Pair Corr

Moving against Allianzgi Mutual Fund

0.6	ANAVX	Allianzgi Nfj Intern	Pair Corr
0.34	AIISX	Allianzgi International	Pair Corr
0.97	RYCQX	Inverse Russell 2000	Pair Corr
0.67	LWSTX	Western Asset Short	Pair Corr
0.66	IVFAX	Federated International	Pair Corr
0.63	PRCIX	T Rowe Price	Pair Corr
0.59	GSRUX	Goldman Sachs Inflation	Pair Corr
0.53	GLOIX	Gamco Global Opportunity	Pair Corr
0.45	VISAX	Virtus International	Pair Corr
0.43	IIXCX	Catalyst Insider Income	Pair Corr
0.4	GSIUX	Goldman Sachs Emerging	Pair Corr
0.36	PCMFX	California Municipal	Pair Corr
0.31	BNUEX	Ubs International	Pair Corr
0.91	URPSX	Ultrabear Profund	Pair Corr
0.82	DPFAX	Deer Park Total	Pair Corr

Related Correlations Analysis

	WRLDX	FURYAX	OPTCX	RPBAX	FFCDAX	CPUCX	FTUFOX	RTIUX
WRLDX		0.27	0.66	0.7	0.53	0.82	0.58	0.86	WRLDX
FURYAX	0.27		-0.13	0.54	0.39	-0.16	-0.31	-0.09	FURYAX
OPTCX	0.66	-0.13		0.3	0.12	0.65	0.35	0.77	OPTCX
RPBAX	0.7	0.54	0.3		0.36	0.42	0.24	0.41	RPBAX
FFCDAX	0.53	0.39	0.12	0.36		0.35	0.35	0.23	FFCDAX
CPUCX	0.82	-0.16	0.65	0.42	0.35		0.85	0.87	CPUCX
FTUFOX	0.58	-0.31	0.35	0.24	0.35	0.85		0.65	FTUFOX
RTIUX	0.86	-0.09	0.77	0.41	0.23	0.87	0.65		RTIUX
	WRLDX	FURYAX	OPTCX	RPBAX	FFCDAX	CPUCX	FTUFOX	RTIUX

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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

RTIUX	+ 0.87	CPUCX
RTIUX	+ 0.86	WRLDX
FTUFOX	+ 0.85	CPUCX
CPUCX	+ 0.82	WRLDX
RTIUX	+ 0.77	OPTCX
RPBAX	+ 0.7	WRLDX

High negative correlations

FTUFOX	- 0.31	FURYAX
CPUCX	- 0.16	FURYAX
OPTCX	- 0.13	FURYAX
RTIUX	- 0.09	FURYAX

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
WRLDX	0.64	(0.02)	0.00	0.09	0.00	0.00	1.24	(1.68)	2.96
FURYAX	0.70	0.02	0.04	0.00	0.82	(0.78)	1.21	(1.39)	2.96
OPTCX	0.07	0.00	0.12	0.59	0.06	(0.17)	0.21	(0.21)	0.93
RPBAX	0.57	(0.06)	0.00	(0.15)	0.00	0.00	0.93	(1.07)	6.78
FFCDAX	0.12	(0.01)	0.00	0.93	0.00	0.00	0.21	(0.41)	1.14
CPUCX	0.26	0.00	0.12	0.01	0.26	(0.31)	0.44	(0.54)	1.45
FTUFOX	0.10	0.00	0.30	0.10	0.04	(0.10)	0.20	(0.19)	0.60
RTIUX	0.61	0.07	0.12	(0.48)	0.76	(0.66)	1.47	(1.45)	5.02

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