| RCGHX Fund | | | USD 15.46 0.32 2.11% |
The current 90-days correlation between Allianzgi Health Sciences and Lord Abbett Health is 0.85 (i.e., Very poor diversification). The correlation of Allianzgi Health 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 Health Correlation With Market
Good diversification
The correlation between Allianzgi Health Sciences and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Health Sciences and DJI in the same portfolio, assuming nothing else is changed.
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