Virtus AllianzGI Correlations

NCV-PA Preferred Stock

USD 22.08 0.02 0.09%

The current 90-days correlation between Virtus AllianzGI Con and Oxford Lane Capital is -0.04 (i.e., Good diversification). The correlation of Virtus AllianzGI 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.

Virtus AllianzGI Correlation With Market

Good diversification

The correlation between Virtus AllianzGI Convertible and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Virtus AllianzGI Convertible and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Virtus AllianzGI could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Virtus AllianzGI when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Virtus AllianzGI - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Virtus AllianzGI Convertible to buy it.

Moving together with Virtus Preferred Stock

0.65	PBCRY	Bank Central Asia	Pair Corr
0.72	CMTL	Comtech Telecommunicatio Tech Boost	Pair Corr

Moving against Virtus Preferred Stock

0.48	BAMGF	Brookfield Asset Man	Pair Corr
0.38	GM	General Motors	Pair Corr
0.37	BRK-B	Berkshire Hathaway	Pair Corr
0.31	RCAT	Red Cat Holdings Trending	Pair Corr

Related Correlations Analysis

	GAB-PH	GAB-PG	OXLCO	GUT-PC	GGT-PE	RMPL-P	TY-P	OXLCM
GAB-PH		0.97	0.39	0.77	0.93	0.41	0.6	0.37	GAB-PH
GAB-PG	0.97		0.37	0.74	0.92	0.38	0.61	0.35	GAB-PG
OXLCO	0.39	0.37		0.18	0.42	0.92	-0.28	0.92	OXLCO
GUT-PC	0.77	0.74	0.18		0.76	0.24	0.46	0.19	GUT-PC
GGT-PE	0.93	0.92	0.42	0.76		0.44	0.58	0.4	GGT-PE
RMPL-P	0.41	0.38	0.92	0.24	0.44		-0.31	0.98	RMPL-P
TY-P	0.6	0.61	-0.28	0.46	0.58	-0.31		-0.34	TY-P
OXLCM	0.37	0.35	0.92	0.19	0.4	0.98	-0.34		OXLCM
	GAB-PH	GAB-PG	OXLCO	GUT-PC	GGT-PE	RMPL-P	TY-P	OXLCM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

OXLCM	+ 0.98	RMPL-P
GAB-PG	+ 0.97	GAB-PH
GGT-PE	+ 0.93	GAB-PH
GGT-PE	+ 0.92	GAB-PG
RMPL-P	+ 0.92	OXLCO
OXLCM	+ 0.92	OXLCO

High negative correlations

OXLCM	- 0.34	TY-P
TY-P	- 0.31	RMPL-P
TY-P	- 0.28	OXLCO

Risk-Adjusted Indicators

There is a big difference between Virtus Preferred Stock performing well and Virtus AllianzGI Company 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 Virtus AllianzGI'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
GAB-PH	0.44	0.10	0.00	(6.11)	0.36	(0.48)	1.17	(0.93)	3.34
GAB-PG	0.69	0.08	(0.02)	(2.62)	0.77	(0.76)	1.53	(1.22)	5.27
OXLCO	0.30	0.04	(0.16)	1.92	0.23	(0.37)	0.89	(0.52)	2.32
GUT-PC	0.56	0.01	(0.10)	0.17	0.61	(0.74)	1.30	(1.20)	2.93
GGT-PE	0.47	0.04	(0.05)	0.40	0.62	(0.68)	1.44	(0.99)	5.53
RMPL-P	0.04	0.01	(0.80)	0.59	0.00	(0.07)	0.12	(0.08)	0.60
TY-P	0.35	(0.01)	0.00	0.20	0.00	0.00	1.05	(1.09)	4.15
OXLCM	0.07	0.01	(1.02)	6.01	0.00	(0.10)	0.16	(0.12)	0.41

Be your own money manager

Our tools can tell you how much better you can do entering a position in Virtus AllianzGI without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Bollinger Bands Now

Bollinger Bands

Use Bollinger Bands indicator to analyze target price for a given investing horizon

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC