Allianzgi Small Correlations

ASCFX Fund

USD 23.19 0.09 0.39%

The current 90-days correlation between Allianzgi Small Cap and Shelton Emerging Markets is 0.25 (i.e., Modest diversification). The correlation of Allianzgi Small 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 Small Correlation With Market

Weak diversification

The correlation between Allianzgi Small Cap Fund and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Small Cap Fund 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 Small Cap Fund. 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

0.96	AZBAX	Allianzgi Small Cap	Pair Corr
0.87	VSMAX	Vanguard Small Cap	Pair Corr
0.87	VSCIX	Vanguard Small Cap	Pair Corr
0.87	VSCPX	Vanguard Small Cap	Pair Corr
0.87	NAESX	Vanguard Small Cap	Pair Corr
0.94	FSSNX	Fidelity Small Cap	Pair Corr
0.91	DFSTX	Us Small Cap	Pair Corr
0.93	PASVX	T Rowe Price	Pair Corr
0.93	PRVIX	T Rowe Price	Pair Corr
0.93	TRZVX	T Rowe Price	Pair Corr
0.93	PRSVX	T Rowe Price	Pair Corr

Moving against Allianzgi Mutual Fund

0.78	HSGFX	Hussman Strategic Growth	Pair Corr
0.77	SHRMX	Stone Ridge High	Pair Corr
0.7	PYLMX	Payden Limited Maturity	Pair Corr
0.56	QNZIX	Aqr Sustainable Long	Pair Corr
0.53	CRDSX	Catholic Responsible	Pair Corr
0.48	FGNSX	Strategic Advisers Tax	Pair Corr
0.35	RFXCX	Rational Special Sit	Pair Corr
0.34	BDKAX	Braddock Multi Strategy	Pair Corr

Related Correlations Analysis

	EMSLX	IGIEX	MWUIX	JDJRX	QNZIX	TEOJX	PIEFX
EMSLX		0.76	0.3	0.32	0.59	0.9	0.95	EMSLX
IGIEX	0.76		0.55	0.39	0.49	0.77	0.8	IGIEX
MWUIX	0.3	0.55		0.84	0.72	0.43	0.38	MWUIX
JDJRX	0.32	0.39	0.84		0.88	0.44	0.38	JDJRX
QNZIX	0.59	0.49	0.72	0.88		0.71	0.65	QNZIX
TEOJX	0.9	0.77	0.43	0.44	0.71		0.94	TEOJX
PIEFX	0.95	0.8	0.38	0.38	0.65	0.94		PIEFX
	EMSLX	IGIEX	MWUIX	JDJRX	QNZIX	TEOJX	PIEFX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Small 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 Small'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
EMSLX	0.62	0.03	0.04	0.18	0.86	(0.60)	1.25	(1.34)	3.47
IGIEX	0.26	0.04	0.12	0.64	0.20	(0.33)	0.72	(0.48)	1.70
MWUIX	0.07	0.02	0.00	1.44	0.00	0.00	0.24	(0.24)	0.98
JDJRX	0.36	0.06	0.17	1.41	0.24	(0.46)	0.88	(0.64)	2.40
QNZIX	0.59	0.09	0.11	1.67	0.72	(0.61)	1.09	(1.20)	3.40
TEOJX	0.62	0.07	0.09	0.97	0.67	(0.70)	1.35	(1.18)	3.16
PIEFX	0.73	0.09	0.09	0.50	0.92	(0.75)	1.49	(1.61)	4.27

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