Allianzgi Short Correlations

ASHSX Fund

USD 13.66 0.01 0.07%

The current 90-days correlation between Allianzgi Short Duration and Allianzgi Nfj Dividend is 0.48 (i.e., Very weak diversification). The correlation of Allianzgi Short 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 Short Correlation With Market

Very weak diversification

The correlation between Allianzgi Short Duration and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Short Duration 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 Short Duration. 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

0.76	ANDVX	Allianzgi Nfj Dividend	Pair Corr
0.72	ANFVX	Allianzgi Nfj Small	Pair Corr
0.81	AFGFX	Allianzgi Focused Growth	Pair Corr
0.79	VWEAX	Vanguard High Yield	Pair Corr
0.77	VWEHX	Vanguard High Yield	Pair Corr
0.92	BHYCX	Blackrock Hi Yld	Pair Corr
0.93	BHYIX	Blackrock High Yield	Pair Corr
0.93	BHYSX	Blackrock Hi Yld	Pair Corr
0.92	BHYAX	Blackrock High Yield	Pair Corr
0.95	FAHHX	American Funds American	Pair Corr
0.96	FTAHX	American Funds American	Pair Corr
0.95	AHTFX	American High Income	Pair Corr
0.94	AHTCX	American High Income	Pair Corr
0.82	PFN	Pimco Income Strategy	Pair Corr
0.85	XNKGX	Nuveen Georgia Quality	Pair Corr
0.82	XPPRX	Voya Prime Rate	Pair Corr
0.89	PCF	Putnam High Income	Pair Corr
0.96	LEOIX	Lazard Enhanced Oppo	Pair Corr
0.84	FEQIX	Fidelity Equity Income	Pair Corr
0.72	CSDGX	Copeland Smid Cap	Pair Corr
0.96	FSAHX	Fidelity Short Duration	Pair Corr
0.88	FSHOX	Construction And Housing	Pair Corr
0.81	FFIDX	Fidelity Fund Fidelity	Pair Corr
0.83	VSMAX	Vanguard Small Cap	Pair Corr
0.89	VBIAX	Vanguard Balanced Index	Pair Corr
0.82	FNCMX	Fidelity Nasdaq Posite	Pair Corr
0.86	VVIAX	Vanguard Value Index	Pair Corr
0.63	FIQFX	Fidelity China Region	Pair Corr
0.82	SECIX	Guggenheim Large Cap	Pair Corr
0.63	SMGXX	Legg Mason Partners	Pair Corr

Moving against Allianzgi Mutual Fund

0.36	AIISX	Allianzgi International	Pair Corr
0.48	XNXJX	Nuveen New Jersey	Pair Corr
0.42	XNBHX	Neuberger Berman Int	Pair Corr

Related Correlations Analysis

	ANDVX	ANFVX	AEMOX	AFGFX	AGASX	AIISX
ANDVX		0.77	0.27	0.7	0.76	-0.11	ANDVX
ANFVX	0.77		0.12	0.84	0.49	-0.41	ANFVX
AEMOX	0.27	0.12		0.3	0.59	0.42	AEMOX
AFGFX	0.7	0.84	0.3		0.46	-0.54	AFGFX
AGASX	0.76	0.49	0.59	0.46		0.43	AGASX
AIISX	-0.11	-0.41	0.42	-0.54	0.43		AIISX
	ANDVX	ANFVX	AEMOX	AFGFX	AGASX	AIISX

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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

AFGFX	+ 0.84	ANFVX
ANFVX	+ 0.77	ANDVX
AGASX	+ 0.76	ANDVX
AFGFX	+ 0.7	ANDVX
AGASX	+ 0.59	AEMOX
AGASX	+ 0.49	ANFVX

High negative correlations

AIISX	- 0.54	AFGFX
AIISX	- 0.41	ANFVX
AIISX	- 0.11	ANDVX

Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Short 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 Short'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
ANDVX	0.49	(0.01)	(0.09)	0.10	0.47	(0.59)	1.07	(0.90)	2.28
ANFVX	0.82	(0.01)	0.02	0.11	0.69	(1.05)	1.89	(1.40)	6.66
AEMOX	0.65	(0.09)	0.00	(0.10)	0.00	0.00	1.40	(1.70)	3.97
AFGFX	0.76	0.02	0.01	0.14	1.03	(0.73)	1.70	(1.84)	5.08
AGASX	0.37	(0.03)	(0.20)	0.05	0.41	(0.40)	0.78	(0.67)	2.03
AIISX	0.46	(0.11)	0.00	(0.15)	0.00	0.00	1.00	(1.21)	3.14

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