Correlation Between Allianzgi Nfj and Virtus Global
Can any of the company-specific risk be diversified away by investing in both Allianzgi Nfj and Virtus Global at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Allianzgi Nfj and Virtus Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Allianzgi Nfj International and Virtus Global Multi, you can compare the effects of market volatilities on Allianzgi Nfj and Virtus Global and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Allianzgi Nfj with a short position of Virtus Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Allianzgi Nfj and Virtus Global.
Diversification Opportunities for Allianzgi Nfj and Virtus Global
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Allianzgi and Virtus is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Nfj International and Virtus Global Multi in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Virtus Global Multi and Allianzgi Nfj is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Allianzgi Nfj International are associated (or correlated) with Virtus Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Virtus Global Multi has no effect on the direction of Allianzgi Nfj i.e., Allianzgi Nfj and Virtus Global go up and down completely randomly.
Pair Corralation between Allianzgi Nfj and Virtus Global
Assuming the 90 days horizon Allianzgi Nfj International is expected to generate 2.09 times more return on investment than Virtus Global. However, Allianzgi Nfj is 2.09 times more volatile than Virtus Global Multi. It trades about 0.13 of its potential returns per unit of risk. Virtus Global Multi is currently generating about 0.04 per unit of risk. If you would invest 2,309 in Allianzgi Nfj International on August 13, 2025 and sell it today you would earn a total of 160.00 from holding Allianzgi Nfj International or generate 6.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Allianzgi Nfj International vs. Virtus Global Multi
Performance |
| Timeline |
| Allianzgi Nfj Intern |
| Virtus Global Multi |
Allianzgi Nfj and Virtus Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Allianzgi Nfj and Virtus Global
The main advantage of trading using opposite Allianzgi Nfj and Virtus Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Allianzgi Nfj position performs unexpectedly, Virtus Global can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Virtus Global will offset losses from the drop in Virtus Global's long position.| Allianzgi Nfj vs. T Rowe Price | Allianzgi Nfj vs. Principal Lifetime Hybrid | Allianzgi Nfj vs. European Equity Closed | Allianzgi Nfj vs. Destra Multi Alternative |
| Virtus Global vs. Voya Asia Pacific | Virtus Global vs. Lsv Global Value | Virtus Global vs. Gdl Closed Fund | Virtus Global vs. Pimco Global Stocksplus |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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