Allianzgi Global Correlations

ASTNX Fund

USD 14.10 0.00 0.00%

The current 90-days correlation between Allianzgi Global Sus and Nasdaq 100 2x Strategy is 0.02 (i.e., Significant diversification). 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

Good diversification

The correlation between Allianzgi Global Sustainabilit and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Global Sustainabilit and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios. 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 board of governors.

Moving together with Allianzgi Mutual Fund

0.76	ANJIX	Allianzgi Nfj Intern	Pair Corr
0.61	AOPCX	Allianzgi International	Pair Corr
0.78	AOTIX	Allianzgi Emerging	Pair Corr
0.76	AOTAX	Allianzgi Emerging	Pair Corr
0.75	AOTCX	Allianzgi Emerging	Pair Corr
0.63	RAGHX	Allianzgi Health Sciences	Pair Corr
0.61	HLHIX	Allianzgi Health Sciences	Pair Corr
0.86	ASUAX	Allianzgi Global Sus	Pair Corr
0.63	RCGHX	Allianzgi Health Sciences	Pair Corr
0.75	AFJAX	Allianzgi Nfj Intern	Pair Corr
0.75	AFJCX	Allianzgi Nfj Intern	Pair Corr

Moving against Allianzgi Mutual Fund

0.72	ANNPX	Allianzgi Convertible	Pair Corr
0.72	ANZAX	Allianzgi Vertible	Pair Corr
0.72	RAGTX	Allianzgi Technology	Pair Corr
0.71	ANZCX	Allianzgi Vertible	Pair Corr
0.85	ASHCX	Allianzgi Short Duration	Pair Corr
0.84	ASHAX	Allianzgi Short Duration	Pair Corr
0.83	ASHIX	Allianzgi Short Duration	Pair Corr
0.75	RCGTX	Allianzgi Technology	Pair Corr
0.73	DRGTX	Allianzgi Technology	Pair Corr
0.67	DRMCX	Allianzgi Mid Cap	Pair Corr
0.43	AZNIX	Allianzgi Income Growth	Pair Corr

Related Correlations Analysis

	RYCCX	VMSAX	WFEMX	RYMDX	ANGCX	IGIEX	MBXAX
RYCCX		0.66	0.69	0.79	0.39	0.7	0.37	RYCCX
VMSAX	0.66		0.46	0.57	0.79	0.82	0.27	VMSAX
WFEMX	0.69	0.46		0.57	0.15	0.64	-0.1	WFEMX
RYMDX	0.79	0.57	0.57		0.18	0.64	0.5	RYMDX
ANGCX	0.39	0.79	0.15	0.18		0.64	0.02	ANGCX
IGIEX	0.7	0.82	0.64	0.64	0.64		0.01	IGIEX
MBXAX	0.37	0.27	-0.1	0.5	0.02	0.01		MBXAX
	RYCCX	VMSAX	WFEMX	RYMDX	ANGCX	IGIEX	MBXAX

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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

IGIEX	+ 0.82	VMSAX
RYMDX	+ 0.79	RYCCX
ANGCX	+ 0.79	VMSAX
IGIEX	+ 0.7	RYCCX
WFEMX	+ 0.69	RYCCX
VMSAX	+ 0.66	RYCCX

High negative correlations

MBXAX

- 0.1

WFEMX

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
RYCCX	1.80	(0.01)	0.00	(0.02)	2.86	(1.70)	3.32	(4.84)	13.87
VMSAX	0.15	(0.01)	(0.02)	(0.25)	0.17	(0.18)	0.28	(0.33)	1.00
WFEMX	0.67	(0.03)	0.00	(0.19)	0.00	0.00	1.55	(1.51)	4.98
RYMDX	1.06	0.04	0.03	0.06	1.47	(1.05)	2.17	(1.80)	12.00
ANGCX	0.10	(0.02)	0.00	3.31	0.00	0.00	0.24	(0.24)	0.82
IGIEX	0.28	(0.03)	0.00	(0.34)	0.00	0.00	0.48	(0.71)	2.17
MBXAX	0.37	0.07	0.14	1.24	0.36	(0.40)	0.83	(0.75)	3.60

Allianzgi Global Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Allianzgi Global mutual fund to make a market-neutral strategy. Peer analysis of Allianzgi Global could also be used in its relative valuation, which is a method of valuing Allianzgi Global by comparing valuation metrics with similar companies.

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