Allianzgi Nfj Correlations

Mutual Funds . USA . 
Fund . Allianzgi Nfj Mid Cap
PQNAX Fund  USD 25.64  0.31  1.22%   
The current 90-days correlation between Allianzgi Nfj Mid and Eaton Vance Worldwide is -0.18 (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

Good diversification

The correlation between Allianzgi Nfj Mid Cap and DJI is -0.04 (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 nation.

Moving together with Allianzgi Mutual Fund

  0.69ANNPX Allianzgi ConvertiblePairCorr
  1.0ANPRX Allianzgi Nfj MidPairCorr
  0.63PGFIX Allianzgi Focused GrowthPairCorr
  0.93ANVIX Allianzgi Nfj LargePairCorr
  0.68ANZCX Allianzgi ConvertiblePairCorr
  0.69ANZAX Allianzgi VertiblePairCorr
  0.63PGWAX Allianzgi Focused GrowthPairCorr
  0.8RAGHX Allianzgi Health SciencesPairCorr
  0.82HLHIX Allianzgi Health SciencesPairCorr
  0.97PNBAX Allianzgi Nfj LargePairCorr
  0.96PNEAX Allianzgi Nfj DividendPairCorr
  0.85NFJEX Allianzgi Nfj DividendPairCorr
  0.7DRMCX Allianzgi Mid CapPairCorr
  0.62AWTAX Allianzgi Global WaterPairCorr
  0.62AWTIX Allianzgi Global WaterPairCorr
  0.85RGLIX Allianzgi Global NaturalPairCorr
  0.63RGSCX Allianzgi Global SmallPairCorr
  0.7RGSAX Allianzgi Global SmallPairCorr
  0.87PQNCX Allianzgi Nfj MidPairCorr
  0.87PRNIX Allianzgi Nfj MidPairCorr
  0.65AZBIX Allianzgi Small CapPairCorr
  0.64AZBAX Allianzgi Small CapPairCorr
  0.64AZBCX Allianzgi Small CapPairCorr
  0.71AZNAX Allianzgi Income GrowthPairCorr
  0.83PALCX Allianzgi Global AllPairCorr

Related Correlations Analysis

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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   
PTTAX
+ 0.98
PRTNX
PCVAX
+ 0.88
CVGRX
PRTNX
+ 0.77
ETHSX
PTTAX
+ 0.66
ETHSX
  
High negative correlations   
PTTAX
- 0.68
CVGRX
PTTAX
- 0.65
PCVAX
PRTNX
- 0.57
CVGRX
PRTNX
- 0.52
PCVAX
CVGRX
- 0.16
ETHSX
PCVAX
- 0.01
ETHSX

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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