Allianzgi Diversified Correlations

ACV Fund

USD 22.51 0.08 0.36%

The current 90-days correlation between Allianzgi Diversified and DWS Municipal Income is 0.16 (i.e., Average diversification). The correlation of Allianzgi Diversified 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 Diversified Correlation With Market

Poor diversification

The correlation between Allianzgi Diversified Income and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Diversified Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Allianzgi Diversified Income. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Allianzgi Fund

0.84	CLM	Cornerstone Strategic	Pair Corr
0.84	CRF	Cornerstone Strategic	Pair Corr
0.83	ETV	Eaton Vance Tax	Pair Corr
0.71	ETJ	Eaton Vance Risk	Pair Corr
0.89	GAB	Gabelli Equity Trust	Pair Corr
0.82	ETY	Eaton Vance Tax	Pair Corr
0.84	ADX	Adams Diversified Equity	Pair Corr
0.63	PGAIX	Pimco Global Multi	Pair Corr
0.93	WWLAX	Westwood Largecap Value	Pair Corr
0.94	FSEIX	Nuveen Mid Cap	Pair Corr
0.86	VFINX	Vanguard 500 Index	Pair Corr
0.91	DFMAX	Davidson Multi Cap	Pair Corr
0.86	ARIDX	Amg River Road	Pair Corr
0.92	AMGIX	Income Growth	Pair Corr
0.9	AMGOX	Alger Mid Cap	Pair Corr
0.86	ILESX	Fisher Investments	Pair Corr
0.82	MLMAX	Global E Portfolio	Pair Corr
0.77	GAPIX	Goldman Sachs Equity	Pair Corr
0.88	VWELX	Vanguard Wellington	Pair Corr
0.89	TLCYX	Touchstone Large Cap	Pair Corr
0.62	NADCX	Nationwide Investor	Pair Corr
0.86	AMEIX	Equity Growth	Pair Corr
0.9	SAGAX	Ridgeworth Innovative	Pair Corr
0.86	VFIAX	Vanguard 500 Index	Pair Corr

Related Correlations Analysis

	BBUC	ASXSF	KTF	MVT	MFV	RFMZ	CXH	ETB	FUND
BBUC		-0.06	0.65	-0.21	-0.27	0.24	0.3	0.86	0.8	BBUC
ASXSF	-0.06		0.15	0.42	-0.47	0.5	0.27	-0.23	-0.34	ASXSF
KTF	0.65	0.15		0.24	-0.2	0.56	0.72	0.56	0.34	KTF
MVT	-0.21	0.42	0.24		-0.32	0.81	0.64	-0.49	-0.55	MVT
MFV	-0.27	-0.47	-0.2	-0.32		-0.5	-0.28	0.02	-0.03	MFV
RFMZ	0.24	0.5	0.56	0.81	-0.5		0.73	-0.1	-0.22	RFMZ
CXH	0.3	0.27	0.72	0.64	-0.28	0.73		0.13	-0.11	CXH
ETB	0.86	-0.23	0.56	-0.49	0.02	-0.1	0.13		0.85	ETB
FUND	0.8	-0.34	0.34	-0.55	-0.03	-0.22	-0.11	0.85		FUND
	BBUC	ASXSF	KTF	MVT	MFV	RFMZ	CXH	ETB	FUND

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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

ETB	+ 0.86	BBUC
FUND	+ 0.85	ETB
RFMZ	+ 0.81	MVT
FUND	+ 0.8	BBUC
CXH	+ 0.73	RFMZ
CXH	+ 0.72	KTF

High negative correlations

FUND	- 0.55	MVT
RFMZ	- 0.5	MFV
ETB	- 0.49	MVT
MFV	- 0.47	ASXSF
FUND	- 0.34	ASXSF
MFV	- 0.32	MVT

Risk-Adjusted Indicators

There is a big difference between Allianzgi Fund performing well and Allianzgi Diversified 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 Diversified'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
BBUC	1.74	0.16	0.10	0.22	1.87	(1.84)	3.46	(2.91)	9.74
ASXSF	3.03	0.19	(0.01)	(0.03)	4.77	(8.39)	9.09	(12.00)	32.50
KTF	0.44	0.06	(0.09)	(1.75)	0.48	(0.53)	1.12	(0.61)	3.40
MVT	0.48	0.00	(0.18)	0.08	0.61	(0.52)	1.07	(1.09)	2.79
MFV	0.68	(0.03)	0.00	(1.20)	0.00	0.00	1.95	(1.21)	4.79
RFMZ	0.42	0.02	(0.15)	(0.37)	0.56	(0.45)	0.71	(0.99)	2.66
CXH	0.34	0.05	(0.17)	(0.19)	0.40	(0.38)	0.86	(0.74)	2.10
ETB	0.38	0.06	0.00	0.25	0.30	(0.42)	0.88	(0.91)	2.02
FUND	0.64	(0.05)	(0.08)	0.05	0.79	(0.67)	1.30	(1.26)	4.46

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