Allianzgi Short Correlations

ASHSX Fund

USD 13.57 0.02 0.15%

The current 90-days correlation between Allianzgi Short Duration and Aam Select Income is 0.44 (i.e., Very weak diversification). The correlation of Allianzgi Short 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 Short Correlation With Market

Very weak diversification

The correlation between Allianzgi Short Duration and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Short Duration 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 Short Duration. 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 state.

Moving together with Allianzgi Mutual Fund

0.71	ANAVX	Allianzgi Nfj Intern	Pair Corr
0.89	VWEAX	Vanguard High Yield	Pair Corr
0.9	VWEHX	Vanguard High Yield	Pair Corr
0.94	BHYCX	Blackrock Hi Yld	Pair Corr
0.94	BHYIX	Blackrock High Yield	Pair Corr
0.95	BHYSX	Blackrock Hi Yld	Pair Corr
0.94	BHYAX	Blackrock High Yield	Pair Corr
0.94	FAHHX	American Funds American	Pair Corr
0.94	FTAHX	American Funds American	Pair Corr
0.94	AHTFX	American High Income	Pair Corr
0.95	AHTCX	American High Income	Pair Corr
0.84	PFN	Pimco Income Strategy	Pair Corr
0.66	CIF	Mfs Intermediate High	Pair Corr
0.81	NXJ	Nuveen New Jersey	Pair Corr
0.86	XPPRX	Voya Prime Rate	Pair Corr
0.93	PCF	Putnam High Income	Pair Corr
0.77	HIPCX	The Hartford Inflation	Pair Corr
0.76	REGAX	American Funds Emerging	Pair Corr
0.77	FSGGX	Fidelity Global Ex	Pair Corr
0.77	RSFYX	Victory Floating Rate	Pair Corr
0.81	PIRMX	Pimco Inflation Response	Pair Corr
0.69	MWTTX	Metropolitan West Total	Pair Corr
0.65	SIEYX	International Equity	Pair Corr
0.73	EKWYX	Wells Fargo Advantage	Pair Corr
0.8	MMIIX	Mfs Municipal High	Pair Corr
0.89	GSBCX	Goldman Sachs Income	Pair Corr
0.66	PRCIX	T Rowe Price	Pair Corr

Related Correlations Analysis

	CPUCX	FLAKQX	OPTCX	FZNOPX	XHYIX	FURYAX	WABMSX
CPUCX		0.31	0.65	-0.27	-0.06	-0.16	0.27	CPUCX
FLAKQX	0.31		0.1	0.43	0.51	0.64	0.81	FLAKQX
OPTCX	0.65	0.1		-0.26	-0.26	-0.13	0.16	OPTCX
FZNOPX	-0.27	0.43	-0.26		0.6	0.94	0.72	FZNOPX
XHYIX	-0.06	0.51	-0.26	0.6		0.6	0.52	XHYIX
FURYAX	-0.16	0.64	-0.13	0.94	0.6		0.85	FURYAX
WABMSX	0.27	0.81	0.16	0.72	0.52	0.85		WABMSX
	CPUCX	FLAKQX	OPTCX	FZNOPX	XHYIX	FURYAX	WABMSX

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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

FURYAX	+ 0.94	FZNOPX
WABMSX	+ 0.85	FURYAX
WABMSX	+ 0.81	FLAKQX
WABMSX	+ 0.72	FZNOPX
OPTCX	+ 0.65	CPUCX
FURYAX	+ 0.64	FLAKQX

High negative correlations

FZNOPX	- 0.27	CPUCX
XHYIX	- 0.26	OPTCX
FZNOPX	- 0.26	OPTCX
FURYAX	- 0.16	CPUCX
FURYAX	- 0.13	OPTCX
XHYIX	- 0.06	CPUCX

Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Short 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 Short'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
CPUCX	0.26	0.00	0.12	0.01	0.26	(0.31)	0.44	(0.54)	1.45
FLAKQX	0.83	0.00	0.03	(0.06)	1.12	(0.93)	1.75	(2.40)	4.80
OPTCX	0.07	0.00	0.12	0.59	0.06	(0.17)	0.21	(0.21)	0.93
FZNOPX	0.77	0.04	0.06	0.03	0.85	(0.87)	1.93	(1.63)	3.75
XHYIX	0.16	(0.03)	0.00	0.81	0.00	0.00	0.25	(0.49)	1.31
FURYAX	0.70	0.02	0.04	0.00	0.82	(0.78)	1.21	(1.39)	2.96
WABMSX	0.61	0.03	0.06	0.02	0.79	(0.62)	1.38	(1.29)	3.66

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