Allianzgi Nfj Correlations

PNBCX Fund

USD 30.60 0.06 0.20%

The current 90-days correlation between Allianzgi Nfj Large and Allianzgi Nfj International is 0.28 (i.e., Modest 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 Large Cap and DJI is 0.89 (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 Large 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 Large 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

0.91	ANNPX	Allianzgi Vertible	Pair Corr
0.96	ANPRX	Allianzgi Nfj Mid	Pair Corr
0.86	PGFIX	Allianzgi Focused Growth	Pair Corr
1.0	ANVIX	Allianzgi Nfj Large	Pair Corr
0.91	ANZCX	Allianzgi Convertible	Pair Corr
0.91	ANZAX	Allianzgi Convertible	Pair Corr
0.86	PGWCX	Allianzgi Focused Growth	Pair Corr
0.86	PGWAX	Allianzgi Focused Growth	Pair Corr
0.85	RAGTX	Allianzgi Technology	Pair Corr
0.94	ASCFX	Allianzgi Small Cap	Pair Corr
0.72	ASHIX	Allianzgi Short Duration	Pair Corr
0.72	ASHAX	Allianzgi Short Duration	Pair Corr
0.73	ASHCX	Allianzgi Short Duration	Pair Corr
0.85	RCGTX	Allianzgi Technology	Pair Corr
1.0	PNBAX	Allianzgi Nfj Large	Pair Corr
0.94	PNECX	Allianzgi Nfj Dividend	Pair Corr
0.96	PNEAX	Allianzgi Nfj Dividend	Pair Corr
0.96	NFJEX	Allianzgi Nfj Dividend	Pair Corr
0.86	DRGTX	Allianzgi Technology	Pair Corr
0.93	DRMCX	Allianzgi Mid Cap	Pair Corr
0.9	RGLIX	Allianzgi Global Natural	Pair Corr
0.71	RGSCX	Allianzgi Global Small	Pair Corr
0.73	RGSAX	Allianzgi Global Small	Pair Corr

Moving against Allianzgi Mutual Fund

0.48	RAGHX	Allianzgi Health Sciences	Pair Corr
0.48	HLHIX	Allianzgi Health Sciences	Pair Corr
0.41	AOPCX	Allianzgi International	Pair Corr
0.4	AOPAX	Allianzgi International	Pair Corr
0.49	RCGHX	Allianzgi Health Sciences	Pair Corr

Related Correlations Analysis

	ANJIX	ANNPX	ANPRX	PGFIX	ANVIX	ANZCX	ANZAX	PGWCX	PGWAX	AOPAX
ANJIX		-0.16	0.16	-0.01	-0.05	-0.17	-0.16	-0.01	-0.01	0.62	ANJIX
ANNPX	-0.16		0.86	0.91	0.92	1.0	1.0	0.92	0.91	-0.62	ANNPX
ANPRX	0.16	0.86		0.81	0.96	0.86	0.86	0.81	0.81	-0.24	ANPRX
PGFIX	-0.01	0.91	0.81		0.87	0.91	0.91	1.0	1.0	-0.57	PGFIX
ANVIX	-0.05	0.92	0.96	0.87		0.92	0.92	0.87	0.87	-0.42	ANVIX
ANZCX	-0.17	1.0	0.86	0.91	0.92		1.0	0.91	0.91	-0.62	ANZCX
ANZAX	-0.16	1.0	0.86	0.91	0.92	1.0		0.92	0.91	-0.62	ANZAX
PGWCX	-0.01	0.92	0.81	1.0	0.87	0.91	0.92		1.0	-0.57	PGWCX
PGWAX	-0.01	0.91	0.81	1.0	0.87	0.91	0.91	1.0		-0.57	PGWAX
AOPAX	0.62	-0.62	-0.24	-0.57	-0.42	-0.62	-0.62	-0.57	-0.57		AOPAX
	ANJIX	ANNPX	ANPRX	PGFIX	ANVIX	ANZCX	ANZAX	PGWCX	PGWAX	AOPAX

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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

ANZCX	+ 1.0	ANNPX
ANZAX	+ 1.0	ANNPX
PGWCX	+ 1.0	PGFIX
PGWAX	+ 1.0	PGFIX
ANZAX	+ 1.0	ANZCX
PGWAX	+ 1.0	PGWCX

High negative correlations

AOPAX	- 0.62	ANZAX
AOPAX	- 0.62	ANZCX
AOPAX	- 0.62	ANNPX
AOPAX	- 0.57	PGWAX
AOPAX	- 0.57	PGWCX
AOPAX	- 0.57	PGFIX

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
ANJIX	0.72	(0.06)	0.00	(0.05)	0.00	0.00	1.47	(2.34)	5.86
ANNPX	0.43	0.09	0.07	0.29	0.16	(0.51)	1.09	(0.87)	2.27
ANPRX	0.59	(0.02)	(0.08)	0.10	0.57	(0.68)	1.16	(0.99)	2.85
PGFIX	0.74	0.02	0.01	0.15	1.00	(0.73)	1.71	(1.83)	5.08
ANVIX	0.52	(0.02)	(0.08)	0.10	0.46	(0.59)	1.09	(0.94)	3.33
ANZCX	0.43	0.09	0.06	0.28	0.18	(0.53)	1.10	(0.86)	2.29
ANZAX	0.43	0.09	0.06	0.29	0.15	(0.53)	1.12	(0.85)	2.30
PGWCX	0.75	0.03	0.01	0.16	1.02	(0.73)	1.70	(1.85)	5.08
PGWAX	0.74	0.02	0.00	0.15	1.00	(0.73)	1.71	(1.83)	5.09
AOPAX	0.47	(0.12)	0.00	(0.18)	0.00	0.00	0.94	(1.21)	2.93

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