Allianzgi Focused Correlations

AFGFX Fund

USD 73.46 0.36 0.49%

The current 90-days correlation between Allianzgi Focused Growth and Chartwell Short Duration is 0.51 (i.e., Very weak diversification). The correlation of Allianzgi Focused 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 Focused Correlation With Market

Very weak diversification

The correlation between Allianzgi Focused Growth and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Focused Growth 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 Focused Growth. 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 census.

Moving together with Allianzgi Mutual Fund

0.75	ANDVX	Allianzgi Nfj Dividend	Pair Corr
0.94	ANFVX	Allianzgi Nfj Small	Pair Corr
0.66	AGASX	Allianzgi Global All	Pair Corr
0.96	FAFGX	American Funds	Pair Corr
0.96	FFAFX	American Funds	Pair Corr
0.96	GFACX	Growth Fund	Pair Corr
0.86	GFAFX	Growth Fund	Pair Corr
0.95	AGTHX	Growth Fund	Pair Corr
0.96	CGFFX	Growth Fund	Pair Corr
0.85	CGFCX	Growth Fund	Pair Corr
0.96	CGFAX	Growth Fund	Pair Corr
0.96	CGFEX	Growth Fund	Pair Corr
0.96	RGAEX	Growth Fund	Pair Corr
0.79	SMPIX	Semiconductor Ultrasector	Pair Corr
0.76	SMPSX	Semiconductor Ultrasector	Pair Corr

Moving against Allianzgi Mutual Fund

0.56	ANAVX	Allianzgi Nfj Intern	Pair Corr
0.96	URPSX	Ultrabear Profund	Pair Corr
0.81	DPFNX	Deer Park Total	Pair Corr
0.69	VFIUX	Vanguard Intermediate-ter	Pair Corr
0.62	DBLLX	Doubleline Low Duration	Pair Corr
0.62	MWTTX	Metropolitan West Total	Pair Corr
0.56	NOIAX	Natixis Oakmark Inte	Pair Corr
0.52	REGAX	American Funds Emerging	Pair Corr
0.49	JIGRX	Janus Overseas	Pair Corr
0.42	RWIIX	Redwood Alphafactor	Pair Corr

Related Correlations Analysis

	CWFIX	WAYRX	PAHIX	HYSZX	CYBAX	MZHIX	ACHFX	AHYMX
CWFIX		0.96	0.9	0.95	0.93	0.96	0.91	0.81	CWFIX
WAYRX	0.96		0.95	0.95	0.98	0.96	0.94	0.88	WAYRX
PAHIX	0.9	0.95		0.91	0.98	0.97	0.94	0.82	PAHIX
HYSZX	0.95	0.95	0.91		0.94	0.93	0.98	0.91	HYSZX
CYBAX	0.93	0.98	0.98	0.94		0.97	0.95	0.86	CYBAX
MZHIX	0.96	0.96	0.97	0.93	0.97		0.94	0.82	MZHIX
ACHFX	0.91	0.94	0.94	0.98	0.95	0.94		0.91	ACHFX
AHYMX	0.81	0.88	0.82	0.91	0.86	0.82	0.91		AHYMX
	CWFIX	WAYRX	PAHIX	HYSZX	CYBAX	MZHIX	ACHFX	AHYMX

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Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Focused 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 Focused'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
CWFIX	0.08	0.01	0.37	0.21	0.00	(0.12)	0.11	(0.11)	0.53
WAYRX	0.16	0.01	0.17	0.07	0.09	(0.26)	0.44	(0.29)	1.02
PAHIX	0.16	0.00	0.14	0.01	0.15	(0.23)	0.51	(0.34)	1.03
HYSZX	0.13	0.01	0.23	(0.23)	0.00	(0.22)	0.48	(0.24)	1.08
CYBAX	0.13	0.01	0.22	0.02	0.11	(0.15)	0.44	(0.24)	0.90
MZHIX	0.13	0.01	0.20	0.11	0.07	(0.18)	0.25	(0.25)	0.89
ACHFX	0.17	0.00	0.16	(0.06)	0.16	(0.22)	0.47	(0.23)	1.28
AHYMX	0.12	0.00	0.15	0.13	0.13	(0.18)	0.22	(0.33)	0.76

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