Allianzgi International Correlations

AOPCX Fund

USD 28.80 0.08 0.28%

The current 90-days correlation between Allianzgi International and Allianzgi Nfj International is 0.02 (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

Significant diversification

The correlation between Allianzgi International Small and DJI is 0.04 (i.e., Significant 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 main economic indicators.

Moving together with Allianzgi Mutual Fund

0.82	RAGHX	Allianzgi Health Sciences	Pair Corr
0.82	HLHIX	Allianzgi Health Sciences	Pair Corr
0.72	ASTNX	Allianzgi Global Sus	Pair Corr
0.78	ASUAX	Allianzgi Global Sus	Pair Corr
0.77	AWTAX	Allianzgi Global Water	Pair Corr
0.79	AWTCX	Allianzgi Global Water	Pair Corr
0.76	AWTIX	Allianzgi Global Water	Pair Corr

Moving against Allianzgi Mutual Fund

0.61	ANZCX	Allianzgi Convertible	Pair Corr
0.49	PGWCX	Allianzgi Focused Growth	Pair Corr
0.49	PGWAX	Allianzgi Focused Growth	Pair Corr
0.46	ANNPX	Allianzgi Convertible	Pair Corr
0.46	ANZAX	Allianzgi Convertible	Pair Corr
0.43	RAGTX	Allianzgi Technology	Pair Corr
0.43	RCGTX	Allianzgi Technology	Pair Corr
0.39	ASCFX	Allianzgi Small Cap	Pair Corr
0.35	ANVIX	Allianzgi Nfj Large	Pair Corr
0.33	ASHCX	Allianzgi Short Duration	Pair Corr
0.32	ASHIX	Allianzgi Short Duration	Pair Corr
0.32	ASHAX	Allianzgi Short Duration	Pair Corr
0.32	PNBCX	Allianzgi Nfj Large	Pair Corr
0.53	DRMCX	Allianzgi Mid Cap	Pair Corr
0.42	AZNIX	Allianzgi Income Growth	Pair Corr
0.42	PSVIX	Allianzgi Nfj Small	Pair Corr
0.4	AZNAX	Allianzgi Income Growth	Pair Corr
0.4	AZNCX	Allianzgi Income Growth	Pair Corr
0.39	AZBIX	Allianzgi Small Cap	Pair Corr
0.38	DRGTX	Allianzgi Technology	Pair Corr
0.31	RGLIX	Allianzgi Global Natural	Pair Corr

Related Correlations Analysis

	ANJIX	ANNPX	PGFIX	ANVIX	ANZCX	ANZAX	PGWCX	PGWAX
ANJIX		-0.1	0.04	0.06	-0.06	-0.1	0.04	0.04	ANJIX
ANNPX	-0.1		0.7	0.57	0.76	1.0	0.93	0.93	ANNPX
PGFIX	0.04	0.7		0.87	0.92	0.7	0.87	0.87	PGFIX
ANVIX	0.06	0.57	0.87		0.84	0.57	0.7	0.7	ANVIX
ANZCX	-0.06	0.76	0.92	0.84		0.76	0.83	0.83	ANZCX
ANZAX	-0.1	1.0	0.7	0.57	0.76		0.93	0.93	ANZAX
PGWCX	0.04	0.93	0.87	0.7	0.83	0.93		1.0	PGWCX
PGWAX	0.04	0.93	0.87	0.7	0.83	0.93	1.0		PGWAX
	ANJIX	ANNPX	PGFIX	ANVIX	ANZCX	ANZAX	PGWCX	PGWAX

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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

ANZAX	+ 1.0	ANNPX
PGWAX	+ 1.0	PGWCX
PGWCX	+ 0.93	ANNPX
PGWAX	+ 0.93	ANNPX
PGWCX	+ 0.93	ANZAX
PGWAX	+ 0.93	ANZAX

High negative correlations

ANZAX	- 0.1	ANJIX
ANNPX	- 0.1	ANJIX
ANZCX	- 0.06	ANJIX

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
ANJIX	0.74	(0.07)	0.00	(0.08)	0.00	0.00	1.47	(2.34)	5.86
ANNPX	0.44	0.10	0.09	0.30	0.15	(0.52)	1.09	(0.87)	2.27
PGFIX	0.76	0.13	0.01	16.21	1.03	(0.73)	1.71	(1.83)	5.08
ANVIX	0.53	0.08	(0.06)	(2.56)	0.46	(0.60)	1.14	(0.94)	3.33
ANZCX	0.44	0.08	0.06	0.26	0.23	(0.52)	1.10	(0.86)	2.29
ANZAX	0.45	0.10	0.09	0.29	0.18	(0.53)	1.12	(0.85)	2.30
PGWCX	0.74	0.03	0.01	0.15	1.02	(0.72)	1.70	(1.85)	5.08
PGWAX	0.74	0.03	0.01	0.16	1.02	(0.72)	1.71	(1.83)	5.09

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