Allianzgi Convertible Correlations

XNCZX Fund

USD 12.97 0.05 0.39%

The current 90-days correlation between Allianzgi Convertible and Nationwide Government Bond is -0.05 (i.e., Good diversification). The correlation of Allianzgi Convertible 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 Convertible Correlation With Market

Significant diversification

The correlation between Allianzgi Convertible Income and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Convertible Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Allianzgi Convertible Income. 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 nation.

Moving together with Allianzgi Mutual Fund

0.78	VGTSX	Vanguard Total Inter	Pair Corr
0.78	VTIAX	Vanguard Total Inter	Pair Corr
0.81	KF	Korea Closed	Pair Corr
0.85	JFESX	Jpmorgan Intrepid	Pair Corr
0.62	DNP	Dnp Select Income	Pair Corr
0.78	FCFBX	Fidelity Advisor Freedom	Pair Corr
0.72	MNOZX	Manning Napier Overseas	Pair Corr
0.76	GIOSX	Guggenheim Macro Opp	Pair Corr
0.7	PTY	Pimco Corporate Income	Pair Corr
0.69	MCSAX	Mfs Modity Strategy	Pair Corr
0.74	INIIX	International Investors	Pair Corr
0.74	ASGHX	Short Term Government	Pair Corr
0.81	FSGEX	Fidelity Series Global	Pair Corr
0.73	PTSRX	Short Term Fund	Pair Corr
0.63	ARHBX	Artisan International Steady Growth	Pair Corr
0.67	MSEEX	Morgan Stanley European	Pair Corr
0.83	GMWPX	Goldman Sachs Local	Pair Corr
0.9	MIMFX	Amg Managers Emerging	Pair Corr
0.76	SWRLX	Sentinel International	Pair Corr
0.79	PFIEX	International Equity	Pair Corr
0.77	HNINX	Harbor International	Pair Corr
0.76	GIOIX	Guggenheim Macro Opp	Pair Corr
0.84	STEYX	International Strategic	Pair Corr
0.76	BUIIX	Buffalo International	Pair Corr
0.76	VMSSX	Virtus Multi Sector	Pair Corr

Moving against Allianzgi Mutual Fund

0.48

SPGSX

State Street Premier

Pair Corr

Related Correlations Analysis

	NUSAX	SIGVX	RGVAX	BIGLX	MXDQX	RFBAX
NUSAX		0.96	0.46	0.42	0.46	0.91	NUSAX
SIGVX	0.96		0.56	0.53	0.55	0.95	SIGVX
RGVAX	0.46	0.56		0.99	0.99	0.7	RGVAX
BIGLX	0.42	0.53	0.99		0.99	0.67	BIGLX
MXDQX	0.46	0.55	0.99	0.99		0.69	MXDQX
RFBAX	0.91	0.95	0.7	0.67	0.69		RFBAX
	NUSAX	SIGVX	RGVAX	BIGLX	MXDQX	RFBAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Convertible 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 Convertible'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
NUSAX	0.03	0.01	0.00	3.90	0.00	0.00	0.10	0.00	0.19
SIGVX	0.05	0.00	1.25	(1.50)	0.00	(0.14)	0.10	(0.10)	0.51
RGVAX	0.25	0.01	0.41	0.12	0.27	(0.31)	0.59	(0.43)	1.55
BIGLX	0.27	0.01	0.33	0.04	0.31	(0.33)	0.56	(0.55)	1.58
MXDQX	0.23	0.01	0.45	0.12	0.21	(0.31)	0.50	(0.38)	1.26
RFBAX	0.09	0.01	0.68	(1.68)	0.00	(0.22)	0.20	(0.20)	0.59

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC