Allianz Technology Correlations

ATT Stock

434.00 0.50 0.12%

The current 90-days correlation between Allianz Technology Trust and Impax Environmental Markets is 0.51 (i.e., Very weak diversification). The correlation of Allianz Technology 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.

Allianz Technology Correlation With Market

Weak diversification

The correlation between Allianz Technology Trust and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianz Technology Trust and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Allianz Technology could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Allianz Technology when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Allianz Technology - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Allianz Technology Trust to buy it.

Moving together with Allianz Stock

0.7	TYT	Toyota Motor Corp	Pair Corr
0.69	0R15	SoftBank Group Corp	Pair Corr
0.84	HSBK	Halyk Bank	Pair Corr
0.69	GTCO	Guaranty Trust Holding	Pair Corr
0.84	HSBK	Halyk Bank	Pair Corr
0.93	APTA	Aptamer Group PLC	Pair Corr
0.86	CLDN	Caledonia Investments	Pair Corr
0.63	ITH	Ithaca Energy PLC	Pair Corr
0.9	IMB	Imperial Brands PLC	Pair Corr
0.75	ATY	Athelney Trust plc	Pair Corr
0.8	AMRQ	Amaroq Minerals	Pair Corr
0.77	SOM	Somero Enterprise	Pair Corr
0.9	DEC	Diversified Energy	Pair Corr
0.83	TFIF	TwentyFour Income	Pair Corr
0.89	SGE	Sage Group PLC	Pair Corr
0.85	CNE	Capricorn Energy PLC	Pair Corr
0.75	ENOG	Energean Oil Gas	Pair Corr
0.7	ARC	Arcontech Group Plc	Pair Corr
0.74	ZIOC	Zanaga Iron Ore	Pair Corr

Moving against Allianz Stock

0.9	HYUD	Hyundai Motor Earnings Call This Week	Pair Corr
0.85	SMSD	Samsung Electronics	Pair Corr
0.85	SMSN	Samsung Electronics	Pair Corr
0.79	RIGD	Reliance Industries	Pair Corr
0.75	AXB	Axis Bank Earnings Call This Week	Pair Corr

Related Correlations Analysis

	IEM	CHRY	MMIT	VEIL	IHG	0RH1	0OG6	0NY8
IEM		-0.45	-0.01	0.18	-0.47	0.08	0.35	0.48	IEM
CHRY	-0.45		0.67	0.54	0.8	0.15	-0.74	-0.82	CHRY
MMIT	-0.01	0.67		0.62	0.6	0.19	-0.6	-0.64	MMIT
VEIL	0.18	0.54	0.62		0.32	0.33	-0.45	-0.35	VEIL
IHG	-0.47	0.8	0.6	0.32		0.28	-0.76	-0.9	IHG
0RH1	0.08	0.15	0.19	0.33	0.28		-0.14	-0.16	0RH1
0OG6	0.35	-0.74	-0.6	-0.45	-0.76	-0.14		0.7	0OG6
0NY8	0.48	-0.82	-0.64	-0.35	-0.9	-0.16	0.7		0NY8
	IEM	CHRY	MMIT	VEIL	IHG	0RH1	0OG6	0NY8

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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

IHG	+ 0.8	CHRY
0NY8	+ 0.7	0OG6
MMIT	+ 0.67	CHRY
VEIL	+ 0.62	MMIT
IHG	+ 0.6	MMIT
VEIL	+ 0.54	CHRY

High negative correlations

0NY8	- 0.9	IHG
0NY8	- 0.82	CHRY
0OG6	- 0.76	IHG
0OG6	- 0.74	CHRY
0NY8	- 0.64	MMIT
0OG6	- 0.6	MMIT

Risk-Adjusted Indicators

There is a big difference between Allianz Stock performing well and Allianz Technology Company 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 Allianz Technology'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
IEM	0.68	0.03	0.02	0.11	0.78	(0.73)	1.41	(1.38)	3.07
CHRY	1.17	0.08	0.04	0.25	1.44	(1.20)	2.38	(2.30)	7.14
MMIT	0.86	0.07	0.04	1.00	1.08	(0.90)	1.99	(2.04)	4.96
VEIL	0.64	0.00	(0.02)	0.15	0.74	(0.82)	1.51	(1.75)	3.82
IHG	0.81	0.30	0.29	0.50	0.58	(0.95)	1.73	(1.56)	7.65
0RH1	1.39	(0.03)	0.00	0.30	0.00	0.00	3.67	(3.06)	11.13
0OG6	1.51	(0.26)	0.00	1.06	0.00	0.00	2.95	(3.77)	14.40
0NY8	0.89	(0.15)	0.00	(0.75)	0.00	0.00	1.89	(1.82)	4.62

Be your own money manager

Our tools can tell you how much better you can do entering a position in Allianz Technology without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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