Allianzgi Health Correlations

RAGHX Fund

USD 28.32 0.19 0.68%

The current 90-days correlation between Allianzgi Health Sciences and Putnam Global Financials is 0.18 (i.e., Average diversification). The correlation of Allianzgi Health 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 Health Correlation With Market

Modest diversification

The correlation between Allianzgi Health Sciences and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Health Sciences and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Allianzgi Health Sciences. 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 rate.

Moving together with Allianzgi Mutual Fund

0.84	ANJIX	Allianzgi Nfj Intern	Pair Corr
0.69	ANPRX	Allianzgi Nfj Mid	Pair Corr
0.7	ANVIX	Allianzgi Nfj Large	Pair Corr
0.73	AOTIX	Allianzgi Emerging	Pair Corr
0.75	AOTAX	Allianzgi Emerging	Pair Corr
0.75	AOTCX	Allianzgi Emerging	Pair Corr
1.0	HLHIX	Allianzgi Health Sciences	Pair Corr
0.95	RCGHX	Allianzgi Health Sciences	Pair Corr
0.7	PNBAX	Allianzgi Nfj Large	Pair Corr
0.71	PNBCX	Allianzgi Nfj Large	Pair Corr
0.76	PNECX	Allianzgi Nfj Dividend	Pair Corr
0.75	PNEAX	Allianzgi Nfj Dividend	Pair Corr
0.79	AWTAX	Allianzgi Global Water	Pair Corr
0.79	AWTCX	Allianzgi Global Water	Pair Corr
0.79	AWTIX	Allianzgi Global Water	Pair Corr
0.86	AFJAX	Allianzgi Nfj Intern	Pair Corr
0.86	AFJCX	Allianzgi Nfj Intern	Pair Corr
0.76	RGSCX	Allianzgi Global Small	Pair Corr
0.77	RGSAX	Allianzgi Global Small	Pair Corr
0.7	PQNAX	Allianzgi Nfj Mid	Pair Corr

Moving against Allianzgi Mutual Fund

0.55	RAGTX	Allianzgi Technology	Pair Corr
0.4	ANNPX	Allianzgi Convertible	Pair Corr
0.36	ANZAX	Allianzgi Vertible	Pair Corr
0.35	ANZCX	Allianzgi Vertible	Pair Corr
0.57	ASHAX	Allianzgi Short Duration	Pair Corr
0.56	DRGTX	Allianzgi Technology	Pair Corr
0.54	RCGTX	Allianzgi Technology	Pair Corr
0.32	ASHIX	Allianzgi Short Duration	Pair Corr

Related Correlations Analysis

	PGFMX	PSSRX	ICFAX	IAAEX	FTIXX	XFINX	SBFAX
PGFMX		0.83	0.38	0.83	0.0	0.42	0.69	PGFMX
PSSRX	0.83		0.51	0.9	0.0	0.35	0.86	PSSRX
ICFAX	0.38	0.51		0.65	0.0	-0.4	0.72	ICFAX
IAAEX	0.83	0.9	0.65		0.0	0.14	0.83	IAAEX
FTIXX	0.0	0.0	0.0	0.0		0.0	0.0	FTIXX
XFINX	0.42	0.35	-0.4	0.14	0.0		0.07	XFINX
SBFAX	0.69	0.86	0.72	0.83	0.0	0.07		SBFAX
	PGFMX	PSSRX	ICFAX	IAAEX	FTIXX	XFINX	SBFAX

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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

IAAEX	+ 0.9	PSSRX
SBFAX	+ 0.86	PSSRX
PSSRX	+ 0.83	PGFMX
IAAEX	+ 0.83	PGFMX
SBFAX	+ 0.83	IAAEX
SBFAX	+ 0.72	ICFAX

High negative correlations

XFINX	- 0.4	ICFAX
SBFAX	- 0.0	FTIXX
XFINX	- 0.0	FTIXX
FTIXX	- 0.0	IAAEX
FTIXX	- 0.0	ICFAX
FTIXX	- 0.0	PSSRX

Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Health 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 Health'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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PGFMX	0.37	(0.02)	(0.58)	0.00	0.00	0.78	(0.85)	3.70
PSSRX	0.88	(0.01)	(0.03)	0.00	0.00	1.51	(1.79)	11.81
ICFAX	0.89	(0.17)	(0.39)	0.00	0.00	1.43	(2.10)	18.69
IAAEX	0.67	(0.11)	(0.72)	0.00	0.00	1.27	(0.93)	9.89
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
XFINX	0.12	0.00	(0.15)	0.21	(0.15)	0.21	(0.28)	1.14
SBFAX	0.93	(0.04)	(0.11)	0.00	0.00	1.73	(1.85)	15.92

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