Allianzgi Technology Correlations

DRGTX Fund

USD 86.65 1.72 1.95%

The current 90-days correlation between Allianzgi Technology and Goldman Sachs Strategic is 0.83 (i.e., Very poor 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

Modest diversification

The correlation between Allianzgi Technology Fund and DJI is 0.28 (i.e., Modest 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

0.62	DOCU	DocuSign Earnings Call This Week	Pair Corr
0.65	DSGX	Descartes Systems Earnings Call This Week	Pair Corr

Related Correlations Analysis

	GSTIX	ROGSX	WWWFX	VWTKX	SSHFX
GSTIX		0.48	0.45	0.09	0.54	GSTIX
ROGSX	0.48		0.08	0.67	0.33	ROGSX
WWWFX	0.45	0.08		-0.19	0.35	WWWFX
VWTKX	0.09	0.67	-0.19		-0.4	VWTKX
SSHFX	0.54	0.33	0.35	-0.4		SSHFX
	GSTIX	ROGSX	WWWFX	VWTKX	SSHFX

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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

VWTKX	+ 0.67	ROGSX
SSHFX	+ 0.54	GSTIX
ROGSX	+ 0.48	GSTIX
WWWFX	+ 0.45	GSTIX
SSHFX	+ 0.35	WWWFX
SSHFX	+ 0.33	ROGSX

High negative correlations

SSHFX	- 0.4	VWTKX
VWTKX	- 0.19	WWWFX

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GSTIX	1.04	(0.05)	0.00	(0.07)	0.00	0.00	1.87	(2.48)	8.86
ROGSX	0.97	0.00	(0.01)	0.05	1.73	(0.85)	1.67	(2.86)	7.12
WWWFX	1.67	(0.10)	0.00	(0.20)	0.00	0.00	3.75	(3.81)	9.26
VWTKX	0.93	0.03	0.02	(0.14)	1.22	(1.14)	1.99	(2.43)	5.83
SSHFX	0.90	(0.31)	0.00	(0.31)	0.00	0.00	1.08	(1.30)	21.54

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