Allianzgi Technology Correlations

DRGTX Fund

USD 83.92 0.65 0.78%

The current 90-days correlation between Allianzgi Technology and Goldman Sachs Strategic is 0.98 (i.e., Almost no diversification). The correlation of Allianzgi Technology 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 Technology Correlation With Market

Good diversification

The correlation between Allianzgi Technology Fund and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Technology Fund and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Allianzgi Technology 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 estimate.

Moving together with Allianzgi Mutual Fund

0.76	VEEA	Veea Inc Symbol Change	Pair Corr
0.76	YAAS	Youxin Technology	Pair Corr
0.63	ZENA	ZenaTech	Pair Corr
0.68	ZSPC	zSpace, Common stock	Pair Corr
0.72	INGM	Ingram Micro Holding	Pair Corr
0.68	MIND	Mind Technology	Pair Corr
0.92	HPE-PC	Hewlett Packard Ente	Pair Corr
0.78	NOVA	Sunnova Energy Inter	Pair Corr
0.68	NXXT	NextNRG Symbol Change	Pair Corr
0.61	ODYS	Odysightai Common Stock Tech Boost	Pair Corr
0.77	CORZZ	Core Scientific, Tranche	Pair Corr
0.82	SLNHP	Soluna Holdings Preferred	Pair Corr
0.71	PENG	Penguin Solutions, Symbol Change	Pair Corr

Moving against Allianzgi Mutual Fund

0.54	INFN	Infinera	Pair Corr
0.32	EMKR	EMCORE	Pair Corr
0.62	NTCL	NETCLASS TECHNOLOGY INC	Pair Corr
0.57	ANJIX	Allianzgi Nfj Intern	Pair Corr
0.48	MTTR	Matterport	Pair Corr
0.47	HPAIW	Helport AI Limited	Pair Corr
0.42	AMBR	Amber Road, Symbol Change	Pair Corr
0.39	LGTY	Logility Supply Chain Symbol Change	Pair Corr

Related Correlations Analysis

	GSTIX	ROGSX	WWWFX	VWTKX	SSHFX
GSTIX		0.98	0.81	1.0	0.31	GSTIX
ROGSX	0.98		0.82	0.98	0.3	ROGSX
WWWFX	0.81	0.82		0.82	0.41	WWWFX
VWTKX	1.0	0.98	0.82		0.3	VWTKX
SSHFX	0.31	0.3	0.41	0.3		SSHFX
	GSTIX	ROGSX	WWWFX	VWTKX	SSHFX

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Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Technology 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 Technology'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
GSTIX	1.17	(0.14)	0.94	2.32	(2.62)	6.82
ROGSX	1.23	(0.19)	6.09	1.69	(3.25)	6.47
WWWFX	1.58	(0.03)	(0.49)	2.90	(3.65)	9.36
VWTKX	1.18	(0.17)	5.09	2.39	(2.65)	6.88
SSHFX	1.02	(0.36)	(0.34)	1.23	(1.60)	20.05

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