Allianzgi Focused Correlations

PGWAX Fund

USD 83.09 0.40 0.48%

The current 90-days correlation between Allianzgi Focused Growth and Allianzgi Focused Growth is 0.96 (i.e., Almost no diversification). The correlation of Allianzgi Focused 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 Focused Correlation With Market

Very weak diversification

The correlation between Allianzgi Focused Growth and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Focused Growth and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Allianzgi Focused Growth. 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 nation.

Moving together with Allianzgi Mutual Fund

0.95	ANNPX	Allianzgi Convertible	Pair Corr
1.0	PGFIX	Allianzgi Focused Growth	Pair Corr
0.75	ANVIX	Allianzgi Nfj Large	Pair Corr
0.96	ANZCX	Allianzgi Convertible	Pair Corr
0.96	ANZAX	Allianzgi Vertible	Pair Corr
0.98	PGWCX	Allianzgi Focused Growth	Pair Corr
0.98	RAGTX	Allianzgi Technology	Pair Corr
0.94	ASCFX	Allianzgi Small Cap	Pair Corr
0.98	RCGTX	Allianzgi Technology	Pair Corr
0.75	PNBAX	Allianzgi Nfj Large	Pair Corr
0.76	PNBCX	Allianzgi Nfj Large	Pair Corr
0.76	PNECX	Allianzgi Nfj Dividend	Pair Corr
0.75	PNEAX	Allianzgi Nfj Dividend	Pair Corr
0.74	NFJEX	Allianzgi Nfj Dividend	Pair Corr
0.98	DRGTX	Allianzgi Technology	Pair Corr
0.92	DRMCX	Allianzgi Mid Cap	Pair Corr
0.86	RGLIX	Allianzgi Global Natural	Pair Corr
0.63	PQNCX	Allianzgi Nfj Mid	Pair Corr
0.61	PQNAX	Allianzgi Nfj Mid	Pair Corr

Moving against Allianzgi Mutual Fund

0.6	ANJIX	Allianzgi Nfj Intern	Pair Corr
0.34	AOPAX	Allianzgi International	Pair Corr
0.32	AOPCX	Allianzgi International	Pair Corr
0.57	AFJAX	Allianzgi Nfj Intern	Pair Corr
0.57	AFJCX	Allianzgi Nfj Intern	Pair Corr
0.49	AZMIX	Allianzgi Nfj Emerging	Pair Corr
0.49	AZMAX	Allianzgi Nfj Emerging	Pair Corr
0.48	AZMCX	Allianzgi Nfj Emerging	Pair Corr

Related Correlations Analysis

	PGWCX	PTAAX	RAGTX	PQNAX	RMDAX
PGWCX		0.0	0.94	0.59	0.86	PGWCX
PTAAX	0.0		0.0	0.0	0.0	PTAAX
RAGTX	0.94	0.0		0.53	0.91	RAGTX
PQNAX	0.59	0.0	0.53		0.74	PQNAX
RMDAX	0.86	0.0	0.91	0.74		RMDAX
	PGWCX	PTAAX	RAGTX	PQNAX	RMDAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

RAGTX	+ 0.94	PGWCX
RMDAX	+ 0.91	RAGTX
RMDAX	+ 0.86	PGWCX
RMDAX	+ 0.74	PQNAX
PQNAX	+ 0.59	PGWCX
PQNAX	+ 0.53	RAGTX

High negative correlations

RMDAX	- 0.0	PTAAX
PQNAX	- 0.0	PTAAX
RAGTX	- 0.0	PTAAX
PTAAX	- 0.0	PGWCX

Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Focused 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 Focused'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
PGWCX	1.36	(0.27)	(0.22)	2.21	(3.11)	13.50
PTAAX	0.00	0.00	0.00	0.00	0.00	0.00
RAGTX	1.47	(0.20)	(0.14)	2.83	(3.76)	8.10
PQNAX	0.72	(0.04)	(0.06)	1.22	(1.30)	3.10
RMDAX	1.33	(0.09)	(0.06)	2.19	(3.51)	7.07

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC