AllianzIM Large Correlations

APRW Etf

USD 32.74 0.30 0.91%

The current 90-days correlation between AllianzIM Large Cap and AIM ETF Products is 0.84 (i.e., Very poor diversification). The correlation of AllianzIM Large 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.

AllianzIM Large Correlation With Market

Very weak diversification

The correlation between AllianzIM Large Cap and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AllianzIM Large Cap 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 AllianzIM Large Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with AllianzIM Etf

0.82	INOV	Innovator ETFs Trust	Pair Corr
0.97	BUFR	First Trust Cboe	Pair Corr
0.97	BUFD	FT Cboe Vest	Pair Corr
0.96	PSEP	Innovator SP 500	Pair Corr
0.91	PJAN	Innovator SP 500	Pair Corr
0.96	PJUL	Innovator SP 500	Pair Corr
0.97	PAUG	Innovator Equity Power	Pair Corr
0.88	DNOV	FT Cboe Vest	Pair Corr
0.97	PMAY	Innovator SP 500	Pair Corr
0.99	PJUN	Innovator SP 500	Pair Corr
0.66	VTI	Vanguard Total Stock	Pair Corr
0.76	SPY	SPDR SP 500	Pair Corr
0.76	IVV	iShares Core SP	Pair Corr
0.83	VEA	Vanguard FTSE Developed	Pair Corr
0.82	RXI	iShares Global Consumer	Pair Corr
0.68	T	ATT Inc Aggressive Push	Pair Corr
0.62	AXP	American Express	Pair Corr
0.9	JPM	JPMorgan Chase	Pair Corr
0.85	GE	GE Aerospace	Pair Corr
0.84	MMM	3M Company	Pair Corr
0.79	CSCO	Cisco Systems	Pair Corr
0.8	WMT	Walmart Aggressive Push	Pair Corr

Moving against AllianzIM Etf

0.76	MRK	Merck Company Aggressive Push	Pair Corr
0.38	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	JANW	JULW	OCTW	DECW	APRT
JANW		0.78	0.75	0.64	0.69	JANW
JULW	0.78		0.99	0.96	0.98	JULW
OCTW	0.75	0.99		0.97	0.98	OCTW
DECW	0.64	0.96	0.97		0.98	DECW
APRT	0.69	0.98	0.98	0.98		APRT
	JANW	JULW	OCTW	DECW	APRT

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AllianzIM Large Constituents Risk-Adjusted Indicators

There is a big difference between AllianzIM Etf performing well and AllianzIM Large ETF 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 AllianzIM Large'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
JANW	0.17	0.02	0.18	0.01	0.28	(0.16)	0.38	(0.56)	1.48
JULW	0.24	0.00	0.18	(0.07)	0.33	(0.24)	0.45	(0.63)	1.73
OCTW	0.25	0.00	0.18	(0.06)	0.33	(0.25)	0.56	(0.61)	1.48
DECW	0.27	(0.01)	0.15	0.03	0.36	(0.28)	0.52	(0.61)	1.77
APRT	0.41	0.00	0.11	(0.06)	0.62	(0.38)	0.75	(1.08)	2.86

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