Allianzgi Mid-cap Correlations

DRMCX Fund

USD 5.80 0.18 3.20%

The current 90-days correlation between Allianzgi Mid Cap and Seafarer Overseas Growth is -0.12 (i.e., Good diversification). The correlation of Allianzgi Mid-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 Mid-cap Correlation With Market

Poor diversification

The correlation between Allianzgi Mid Cap Fund and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Mid Cap 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 Mid 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 main economic indicators.

Moving together with Allianzgi Mutual Fund

0.97	ANNPX	Allianzgi Convertible	Pair Corr
0.74	ANPRX	Allianzgi Nfj Mid	Pair Corr
0.9	PGFIX	Allianzgi Focused Growth	Pair Corr
0.84	ANVIX	Allianzgi Nfj Large	Pair Corr
0.96	ANZCX	Allianzgi Convertible	Pair Corr
0.97	ANZAX	Allianzgi Vertible	Pair Corr
0.82	PGWCX	Allianzgi Focused Growth	Pair Corr
0.91	PGWAX	Allianzgi Focused Growth	Pair Corr
0.67	RAGHX	Allianzgi Health Sciences	Pair Corr
0.9	RAGTX	Allianzgi Technology	Pair Corr
0.67	HLHIX	Allianzgi Health Sciences	Pair Corr
0.81	ASCFX	Allianzgi Small Cap	Pair Corr
0.68	RCGHX	Allianzgi Health Sciences	Pair Corr
0.9	RCGTX	Allianzgi Technology	Pair Corr
0.85	PNBAX	Allianzgi Nfj Large	Pair Corr
0.85	PNBCX	Allianzgi Nfj Large	Pair Corr
0.81	PNECX	Allianzgi Nfj Dividend	Pair Corr
0.8	PNEAX	Allianzgi Nfj Dividend	Pair Corr
0.8	NFJEX	Allianzgi Nfj Dividend	Pair Corr
0.9	DRGTX	Allianzgi Technology	Pair Corr
0.92	RGLIX	Allianzgi Global Natural	Pair Corr
0.76	PQNCX	Allianzgi Nfj Mid	Pair Corr
0.74	PQNAX	Allianzgi Nfj Mid	Pair Corr

Moving against Allianzgi Mutual Fund

0.38	ANJIX	Allianzgi Nfj Intern	Pair Corr
0.38	AFJAX	Allianzgi Nfj Intern	Pair Corr
0.38	AFJCX	Allianzgi Nfj Intern	Pair Corr
0.32	AZMIX	Allianzgi Nfj Emerging	Pair Corr
0.32	AZMCX	Allianzgi Nfj Emerging	Pair Corr
0.32	AZMAX	Allianzgi Nfj Emerging	Pair Corr

Related Correlations Analysis

	SFGIX	SEDAX	BELSX	RYACX	EGLNX	PIEFX	BXECX
SFGIX		0.83	0.87	0.34	0.23	0.89	0.81	SFGIX
SEDAX	0.83		0.92	0.49	0.37	0.87	0.96	SEDAX
BELSX	0.87	0.92		0.4	0.48	0.83	0.88	BELSX
RYACX	0.34	0.49	0.4		-0.05	0.36	0.58	RYACX
EGLNX	0.23	0.37	0.48	-0.05		0.26	0.31	EGLNX
PIEFX	0.89	0.87	0.83	0.36	0.26		0.84	PIEFX
BXECX	0.81	0.96	0.88	0.58	0.31	0.84		BXECX
	SFGIX	SEDAX	BELSX	RYACX	EGLNX	PIEFX	BXECX

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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

BXECX	+ 0.96	SEDAX
BELSX	+ 0.92	SEDAX
PIEFX	+ 0.89	SFGIX
BXECX	+ 0.88	BELSX
BELSX	+ 0.87	SFGIX
PIEFX	+ 0.87	SEDAX

High negative correlations

EGLNX

- 0.05

RYACX

Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Mid-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 Mid-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
SFGIX	0.54	0.02	0.07	(0.84)	0.79	(0.53)	1.09	(1.25)	4.18
SEDAX	0.25	0.02	0.18	0.38	0.19	(0.33)	0.59	(0.36)	1.30
BELSX	0.43	0.05	0.15	0.46	0.44	(0.49)	0.92	(0.81)	2.59
RYACX	1.09	0.10	0.14	(0.14)	1.10	(1.24)	2.78	(1.58)	6.30
EGLNX	1.07	0.15	0.11	0.20	1.35	(1.09)	1.97	(2.00)	6.25
PIEFX	0.98	0.10	0.09	0.19	1.27	(0.97)	2.06	(2.04)	6.94
BXECX	0.19	0.03	0.25	(0.58)	0.00	(0.32)	0.55	(0.27)	1.21

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