Allianzgi International Correlations

AIISX Fund

USD 29.61 0.11 0.37%

The current 90-days correlation between Allianzgi International and Gmo Quality Fund is 0.08 (i.e., Significant diversification). The correlation of Allianzgi International 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 International Correlation With Market

Weak diversification

The correlation between Allianzgi International Small and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi International Small and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Allianzgi International 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 state.

Moving together with Allianzgi Mutual Fund

0.86	ANAVX	Allianzgi Nfj Intern	Pair Corr
0.63	ANDVX	Allianzgi Nfj Dividend	Pair Corr
0.7	ANFVX	Allianzgi Nfj Small	Pair Corr
0.82	AEMOX	Allianzgi Emerging	Pair Corr
0.78	AFGFX	Allianzgi Focused Growth	Pair Corr
0.86	AGASX	Allianzgi Global All	Pair Corr
0.79	DISVX	Dfa International Small	Pair Corr
0.81	DFVQX	Dfa International Vector	Pair Corr
0.7	FMNEX	Free Market International	Pair Corr
0.75	OANEX	Oakmark International	Pair Corr
0.62	KGGIX	Kopernik Global All	Pair Corr
0.68	KGGAX	Kopernik Global All	Pair Corr
0.82	OAZEX	Oakmark International	Pair Corr
0.75	OAYEX	Oakmark International	Pair Corr
0.75	OAKEX	Oakmark International	Pair Corr
0.76	PHJBX	Principal Lifetime Hybrid	Pair Corr
0.67	FGBFX	Fidelity Global Bond	Pair Corr
0.75	VWTTX	Voya Mutual Funds	Pair Corr

Moving against Allianzgi Mutual Fund

0.53	UIPIX	Ultrashort Mid Cap	Pair Corr
0.35	FTCAX	Templeton Strained Bond	Pair Corr

Related Correlations Analysis

	GQESX	FARIX	EKBDX	JDJRX	MBLAX	PDAAX
GQESX		0.72	0.8	-0.37	0.88	0.48	GQESX
FARIX	0.72		0.78	-0.22	0.84	0.49	FARIX
EKBDX	0.8	0.78		-0.39	0.78	0.31	EKBDX
JDJRX	-0.37	-0.22	-0.39		-0.14	0.35	JDJRX
MBLAX	0.88	0.84	0.78	-0.14		0.67	MBLAX
PDAAX	0.48	0.49	0.31	0.35	0.67		PDAAX
	GQESX	FARIX	EKBDX	JDJRX	MBLAX	PDAAX

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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

MBLAX	+ 0.88	GQESX
MBLAX	+ 0.84	FARIX
EKBDX	+ 0.8	GQESX
EKBDX	+ 0.78	FARIX
MBLAX	+ 0.78	EKBDX
FARIX	+ 0.72	GQESX

High negative correlations

JDJRX	- 0.39	EKBDX
JDJRX	- 0.37	GQESX
JDJRX	- 0.22	FARIX
MBLAX	- 0.14	JDJRX

Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi International 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 International'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
GQESX	0.57	0.00	(0.06)	0.07	1.11	(0.48)	1.17	(1.52)	5.13
FARIX	0.31	(0.01)	0.00	(0.20)	0.00	0.00	0.65	(0.62)	2.12
EKBDX	0.97	(0.01)	0.00	(0.19)	0.00	0.00	1.53	(1.61)	9.13
JDJRX	0.40	0.04	(0.05)	1.37	0.41	(0.46)	0.88	(0.79)	2.40
MBLAX	0.23	0.00	(0.19)	0.04	0.29	(0.28)	0.46	(0.31)	1.79
PDAAX	0.17	0.01	(0.22)	(1.52)	0.11	(0.26)	0.52	(0.31)	1.35

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