Allianzgi Small-cap Correlations

AZBIX Fund

USD 22.40 0.09 0.40%

The current 90-days correlation between Allianzgi Small Cap and Us Government Securities is 0.26 (i.e., Modest diversification). The correlation of Allianzgi Small-cap 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-cap Correlation With Market

Very weak diversification

The correlation between Allianzgi Small Cap Blend and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Small Cap Blend 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 Blend. 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 gross domestic product.

Moving together with Allianzgi Mutual Fund

0.92	ANNPX	Allianzgi Convertible	Pair Corr
0.94	PGFIX	Allianzgi Focused Growth	Pair Corr
0.71	ANVIX	Allianzgi Nfj Large	Pair Corr
0.93	ANZCX	Allianzgi Convertible	Pair Corr
0.92	ANZAX	Allianzgi Vertible	Pair Corr
0.94	PGWAX	Allianzgi Focused Growth	Pair Corr
0.94	RAGTX	Allianzgi Technology	Pair Corr
0.94	RCGTX	Allianzgi Technology	Pair Corr
0.72	PNBAX	Allianzgi Nfj Large	Pair Corr
0.75	PNEAX	Allianzgi Nfj Dividend	Pair Corr
0.94	DRGTX	Allianzgi Technology	Pair Corr
0.85	DRMCX	Allianzgi Mid Cap	Pair Corr
0.77	RGLIX	Allianzgi Global Natural	Pair Corr
0.91	AZBAX	Allianzgi Small Cap	Pair Corr
1.0	AZBCX	Allianzgi Small Cap	Pair Corr
0.88	AZNAX	Allianzgi Income Growth	Pair Corr
0.97	PSVIX	Allianzgi Nfj Small	Pair Corr
0.97	PCVAX	Allianzgi Nfj Small	Pair Corr
0.98	PCVCX	Allianzgi Nfj Small	Pair Corr
0.91	VSMAX	Vanguard Small Cap	Pair Corr
0.95	VSCIX	Vanguard Small Cap	Pair Corr
0.95	VSCPX	Vanguard Small Cap	Pair Corr

Moving against Allianzgi Mutual Fund

0.69	ANJIX	Allianzgi Nfj Intern	Pair Corr
0.43	AOPAX	Allianzgi International	Pair Corr
0.61	AZMIX	Allianzgi Nfj Emerging	Pair Corr
0.61	AZMAX	Allianzgi Nfj Emerging	Pair Corr
0.43	ALOIX	Allianzgi International	Pair Corr
0.64	VICSX	Vanguard Intermediate-ter	Pair Corr
0.62	BTMPX	Ishares Msci Eafe	Pair Corr

Related Correlations Analysis

	RGVJX	UIGSX	TCSGX	CGTCX	RGVBX	TUIXX
RGVJX		0.96	0.96	1.0	0.97	0.35	RGVJX
UIGSX	0.96		0.93	0.96	1.0	0.29	UIGSX
TCSGX	0.96	0.93		0.95	0.93	0.52	TCSGX
CGTCX	1.0	0.96	0.95		0.96	0.33	CGTCX
RGVBX	0.97	1.0	0.93	0.96		0.29	RGVBX
TUIXX	0.35	0.29	0.52	0.33	0.29		TUIXX
	RGVJX	UIGSX	TCSGX	CGTCX	RGVBX	TUIXX

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Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Small-cap 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-cap'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
RGVJX	0.25	0.02	0.06	1.06	0.24	(0.30)	0.60	(0.50)	1.55
UIGSX	0.20	0.01	0.04	(0.18)	0.17	(0.26)	0.46	(0.45)	1.04
TCSGX	0.08	0.01	0.07	(9.73)	0.00	(0.14)	0.20	(0.20)	0.59
CGTCX	0.25	0.02	0.05	0.68	0.25	(0.29)	0.61	(0.50)	1.56
RGVBX	0.25	0.02	0.04	(0.22)	0.24	(0.30)	0.52	(0.51)	1.39
TUIXX	0.03	0.01	0.00	(0.31)	0.00	0.00	0.00	0.00	1.01

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