Allianzgi Global Correlations

RGSAX Fund

USD 33.47 0.31 0.92%

The correlation of Allianzgi Global 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 Global Correlation With Market

Poor diversification

The correlation between Allianzgi Global Small Cap and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Global Small Cap 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 Global Small Cap. 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

0.76	AOPAX	Allianzgi International	Pair Corr
0.71	AOTIX	Allianzgi Emerging	Pair Corr
0.82	AOTAX	Allianzgi Emerging	Pair Corr
0.82	AOTCX	Allianzgi Emerging	Pair Corr
0.73	ASHIX	Allianzgi Short Duration	Pair Corr
0.72	ASHAX	Allianzgi Short Duration	Pair Corr
0.75	ASHCX	Allianzgi Short Duration	Pair Corr
0.88	AWTAX	Allianzgi Global Water	Pair Corr
0.77	AWTCX	Allianzgi Global Water	Pair Corr
0.88	AWTIX	Allianzgi Global Water	Pair Corr
1.0	RGSCX	Allianzgi Global Small	Pair Corr
0.64	PQNCX	Allianzgi Nfj Mid	Pair Corr
0.65	PQNAX	Allianzgi Nfj Mid	Pair Corr
0.66	PRNIX	Allianzgi Nfj Mid	Pair Corr

Related Correlations Analysis

	OIDAX	DDFIX	SRDAX	HIIDX	WDIAX	DLTZX	MBLAX
OIDAX		0.56	-0.17	0.8	0.68	0.62	0.63	OIDAX
DDFIX	0.56		0.04	0.26	0.97	0.08	0.71	DDFIX
SRDAX	-0.17	0.04		-0.22	-0.07	-0.32	0.0	SRDAX
HIIDX	0.8	0.26	-0.22		0.43	0.88	0.68	HIIDX
WDIAX	0.68	0.97	-0.07	0.43		0.27	0.78	WDIAX
DLTZX	0.62	0.08	-0.32	0.88	0.27		0.57	DLTZX
MBLAX	0.63	0.71	0.0	0.68	0.78	0.57		MBLAX
	OIDAX	DDFIX	SRDAX	HIIDX	WDIAX	DLTZX	MBLAX

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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

WDIAX	+ 0.97	DDFIX
DLTZX	+ 0.88	HIIDX
HIIDX	+ 0.8	OIDAX
MBLAX	+ 0.78	WDIAX
MBLAX	+ 0.71	DDFIX
WDIAX	+ 0.68	OIDAX

High negative correlations

DLTZX	- 0.32	SRDAX
HIIDX	- 0.22	SRDAX
SRDAX	- 0.17	OIDAX
WDIAX	- 0.07	SRDAX
MBLAX	- 0.0	SRDAX

Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Global 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 Global'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
OIDAX	0.71	(0.03)	0.00	0.14	0.00	0.00	1.42	(1.46)	5.03
DDFIX	0.63	0.01	0.02	(0.10)	0.76	(0.69)	1.16	(1.22)	3.44
SRDAX	0.16	0.00	0.05	0.00	0.11	(0.20)	0.29	(0.37)	0.76
HIIDX	0.59	0.10	0.12	0.16	0.66	(0.63)	1.27	(0.88)	5.23
WDIAX	0.63	0.01	0.02	(0.06)	0.76	(0.65)	1.10	(1.32)	3.28
DLTZX	0.08	0.01	0.09	1.04	0.00	(0.18)	0.26	(0.13)	0.64
MBLAX	0.25	0.02	0.05	0.05	0.24	(0.30)	0.62	(0.47)	1.51

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