Allianzgi Global Correlations

Mutual Funds . USA . 
Fund . Allianzgi Global Allocation
AGASX Fund  USD 10.73  0.03  0.28%   
The current 90-days correlation between Allianzgi Global All and Allianzgi Nfj International is 0.52 (i.e., Very weak 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

Very poor diversification

The correlation between Allianzgi Global Allocation and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Global Allocation 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 Global Allocation. 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 state.

Moving together with Allianzgi Mutual Fund

  0.98ANAVX Allianzgi Nfj InternPairCorr
  0.96ANDVX Allianzgi Nfj DividendPairCorr
  0.94ANFVX Allianzgi Nfj SmallPairCorr
  0.98ASHSX Allianzgi Short DurationPairCorr
  0.97AVSCX Allianz Global InvestorsPairCorr
  0.98AEMOX Allianzgi EmergingPairCorr
  0.99AFGFX Allianzgi Focused GrowthPairCorr
  0.97AIISX Allianzgi InternationalPairCorr
  0.99RIRAX Capital Income BuilderPairCorr
  0.99RIREX Capital Income BuilderPairCorr
  0.99RIRCX Capital Income BuilderPairCorr
  0.99RIRFX Capital Income BuilderPairCorr
  0.99CIRCX Capital Income BuilderPairCorr
  0.99CIREX Capital Income BuilderPairCorr
  0.99RIRBX Capital Income BuilderPairCorr
  0.99CAIFX Capital Income BuilderPairCorr
  0.99CIRFX Capital Income BuilderPairCorr
  0.99CIRAX Capital Income BuilderPairCorr
  0.94PFN Pimco Income StrategyPairCorr
  0.96CIF Mfs Intermediate HighPairCorr
  0.67NXJ Nuveen New JerseyPairCorr
  0.96PCF Putnam High IncomePairCorr
  0.97AMTOX Ab All MarketPairCorr
  0.98FMSDX Fidelity Advisor MultiPairCorr
  0.99ASCZX Alger Smallcap GrowthPairCorr
  0.98GVALX Gotham Large ValuePairCorr
  0.99CGQYX Columbia DisciplinedPairCorr
  0.95PGP Pimco Global StocksplusPairCorr
  0.68IFBFX Intermediate BondPairCorr
  0.99SWCGX Schwab MarkettrackPairCorr
  0.99MIMSX Bny Mellon MidPairCorr
  0.91KNGLX Cboe Vest SpPairCorr
  0.93MMUJX Mfs UtilitiesPairCorr
  0.97DOPIX Dreyfus OpportunisticPairCorr
  0.77NREEX Neuberger Berman RealPairCorr

Moving against Allianzgi Mutual Fund

  0.51XNBHX Neuberger Berman IntPairCorr
  0.43XDSMX Dreyfus StrategicPairCorr

Related Correlations Analysis

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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.

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