Allianzgi Nfj Correlations

Mutual Funds . USA . 
Fund . Allianzgi Nfj Dividend
PNECX Fund  USD 11.86  0.03  0.25%   
The current 90-days correlation between Allianzgi Nfj Dividend and Franklin Gold Precious is 0.19 (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

Very poor diversification

The correlation between Allianzgi Nfj Dividend and DJI is 0.82 (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 Dividend 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 Dividend. 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

  0.77ANNPX Allianzgi VertiblePairCorr
  0.93ANPRX Allianzgi Nfj MidPairCorr
  0.69PGFIX Allianzgi Focused GrowthPairCorr
  0.94ANVIX Allianzgi Nfj LargePairCorr
  0.78ANZCX Allianzgi ConvertiblePairCorr
  0.77ANZAX Allianzgi ConvertiblePairCorr
  0.69PGWCX Allianzgi Focused GrowthPairCorr
  0.69PGWAX Allianzgi Focused GrowthPairCorr
  0.71RAGTX Allianzgi TechnologyPairCorr
  0.82ASCFX Allianzgi Small CapPairCorr
  0.62ASHIX Allianzgi Short DurationPairCorr
  0.63ASHAX Allianzgi Short DurationPairCorr
  0.63ASHCX Allianzgi Short DurationPairCorr
  0.71RCGTX Allianzgi TechnologyPairCorr
  0.94PNBAX Allianzgi Nfj LargePairCorr
  0.94PNBCX Allianzgi Nfj LargePairCorr
  1.0PNEAX Allianzgi Nfj DividendPairCorr
  1.0NFJEX Allianzgi Nfj DividendPairCorr
  0.71DRGTX Allianzgi TechnologyPairCorr
  0.79DRMCX Allianzgi Mid CapPairCorr
  0.82RGLIX Allianzgi Global NaturalPairCorr
  0.82RGSCX Allianzgi Global SmallPairCorr
  0.83RGSAX Allianzgi Global SmallPairCorr

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   
SGDLX
+ 0.99
FRGOX
VGSBX
+ 0.89
GCEBX
GEBRX
+ 0.66
FRGOX
SGDLX
+ 0.63
GEBRX
GCEBX
+ 0.3
GEBRX
GCEBX
+ 0.2
FRGOX
  
High negative correlations   
VGSBX
- 0.15
SGDLX
VGSBX
- 0.14
FRGOX
VGSBX
- 0.02
GEBRX

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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