Allianzgi Diversified Correlations

ACV Fund

USD 22.59 0.02 0.09%

The current 90-days correlation between Allianzgi Diversified and DWS Municipal Income is 0.26 (i.e., Modest diversification). The correlation of Allianzgi Diversified 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 Diversified Correlation With Market

Very weak diversification

The correlation between Allianzgi Diversified Income and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Diversified Income 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 Diversified Income. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Allianzgi Fund

0.62	RYMEX	Commodities Strategy	Pair Corr
0.61	RYMJX	Commodities Strategy	Pair Corr
0.62	RYMBX	Commodities Strategy	Pair Corr
0.84	BRUFX	Bruce Fund Bruce	Pair Corr
0.98	SPGSX	State Street Premier	Pair Corr
0.87	KF	Korea Closed	Pair Corr
0.93	ARZMX	Amg River Road	Pair Corr
0.97	LBHIX	Thrivent High Yield	Pair Corr
0.9	VGENX	Vanguard Energy	Pair Corr
0.8	OAZCX	Oakmark Bond	Pair Corr
0.8	MSTBX	Morningstar Defensive	Pair Corr
0.97	TPHCX	Timothy Plan High	Pair Corr
0.95	PCBAX	Blackrock Tactical	Pair Corr
0.97	MRNPX	Msif International	Pair Corr
0.98	NBSLX	Neuberger Berman Socially	Pair Corr
0.98	DIAYX	Diamond Hill Long	Pair Corr
0.85	KCLIX	Knights Of Columbus	Pair Corr
0.82	PIPAX	Pimco International	Pair Corr
0.99	JABEX	Jhancock Multimanager	Pair Corr
0.94	IHIAX	Federated Emerging Market	Pair Corr
0.98	SEKCX	Deutsche Emerging Markets	Pair Corr
0.98	BGESX	Eafe Fund	Pair Corr
0.97	DFIVX	Dfa International Value	Pair Corr
0.99	SWNRX	Schwab Target 2050	Pair Corr
0.98	JIIOX	Lifestyle Ii Aggressive	Pair Corr
0.96	HIGUX	Eagle Growth Income	Pair Corr
0.95	DFFVX	Us Targeted Value	Pair Corr
0.88	NOITX	Northern Intermediate	Pair Corr
0.96	MXXIX	Marsico 21st Century	Pair Corr
0.99	RNPFX	New Perspective	Pair Corr
0.73	VTEAX	Vanguard Tax Exempt	Pair Corr
0.98	RAFAX	Amcap Fund Class	Pair Corr
0.96	BXHCX	Barings High Yield	Pair Corr
0.98	MIOIX	Morgan Stanley Insti	Pair Corr
0.93	FEAMX	First Eagle Fund	Pair Corr
0.69	EICTX	Eaton Vance Connecticut	Pair Corr
0.96	AFLIX	Anfield Universal Fixed	Pair Corr
0.98	APDMX	Artisan Mid Cap	Pair Corr
0.98	GLCGX	Goldman Sachs Large	Pair Corr
0.97	SEMCX	Simt Mid Cap	Pair Corr

Related Correlations Analysis

	BBUC	ASXSF	KTF	MVT	MFV	RFMZ	CXH	ETB	FUND
BBUC		0.84	-0.11	0.61	0.0	0.69	0.3	0.93	0.81	BBUC
ASXSF	0.84		-0.34	0.46	0.0	0.55	0.11	0.93	0.87	ASXSF
KTF	-0.11	-0.34		0.46	0.0	0.46	0.65	-0.25	-0.4	KTF
MVT	0.61	0.46	0.46		0.0	0.72	0.81	0.58	0.53	MVT
MFV	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	MFV
RFMZ	0.69	0.55	0.46	0.72	0.0		0.47	0.63	0.45	RFMZ
CXH	0.3	0.11	0.65	0.81	0.0	0.47		0.22	0.16	CXH
ETB	0.93	0.93	-0.25	0.58	0.0	0.63	0.22		0.91	ETB
FUND	0.81	0.87	-0.4	0.53	0.0	0.45	0.16	0.91		FUND
	BBUC	ASXSF	KTF	MVT	MFV	RFMZ	CXH	ETB	FUND

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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

ETB	+ 0.93	BBUC
ETB	+ 0.93	ASXSF
FUND	+ 0.91	ETB
FUND	+ 0.87	ASXSF
ASXSF	+ 0.84	BBUC
FUND	+ 0.81	BBUC

High negative correlations

FUND	- 0.4	KTF
KTF	- 0.34	ASXSF
ETB	- 0.25	KTF
KTF	- 0.11	BBUC
FUND	- 0.0	MFV
ETB	- 0.0	MFV

Risk-Adjusted Indicators

There is a big difference between Allianzgi Fund performing well and Allianzgi Diversified 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 Diversified'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
BBUC	1.61	0.23	0.15	0.30	1.45	(1.85)	4.42	(2.57)	10.15
ASXSF	0.98	0.18	0.00	2.28	0.00	0.00	4.35	(3.70)	12.40
KTF	0.34	(0.05)	0.00	(0.25)	0.00	0.00	0.69	(0.91)	2.56
MVT	0.46	(0.06)	0.00	(0.03)	0.00	0.00	0.91	(0.98)	3.12
MFV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
RFMZ	0.39	0.05	(0.13)	0.96	0.43	(0.44)	0.99	(0.82)	3.00
CXH	0.32	(0.05)	0.00	(0.18)	0.00	0.00	0.53	(0.93)	1.86
ETB	0.56	0.19	0.05	(1.69)	0.49	(0.71)	1.82	(0.78)	4.18
FUND	0.64	0.10	0.05	0.30	0.57	(0.75)	1.62	(1.16)	3.95

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