Allianzgi Emerging Correlations

Mutual Funds . USA . 
Fund . Allianzgi Emerging Markets
AOTIX Fund  USD 31.78  0.20  0.63%   
The current 90-days correlation between Allianzgi Emerging and Allianzgi Nfj International is 0.05 (i.e., Significant diversification). The correlation of Allianzgi Emerging 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 Emerging Correlation With Market

Very weak diversification

The correlation between Allianzgi Emerging Markets and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Emerging Markets 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 Emerging Markets. 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 gross domestic product.

Moving together with Allianzgi Mutual Fund

  0.98ANJIX Allianzgi Nfj InternPairCorr
  0.98ANNPX Allianzgi ConvertiblePairCorr
  0.94ANPRX Allianzgi Nfj MidPairCorr
  0.97PGFIX Allianzgi Focused GrowthPairCorr
  0.97ANVIX Allianzgi Nfj LargePairCorr
  0.99ANZCX Allianzgi ConvertiblePairCorr
  0.98ANZAX Allianzgi ConvertiblePairCorr
  0.98PGWCX Allianzgi Focused GrowthPairCorr
  0.97PGWAX Allianzgi Focused GrowthPairCorr
  0.95AOPAX Allianzgi InternationalPairCorr
  0.95AOPCX Allianzgi InternationalPairCorr
  0.99AOTAX Allianzgi EmergingPairCorr
  1.0AOTCX Allianzgi EmergingPairCorr
  0.97RAGTX Allianzgi TechnologyPairCorr
  0.96ASCFX Allianzgi Small CapPairCorr
  0.97ASHIX Allianzgi Short DurationPairCorr
  0.95ASHAX Allianzgi Short DurationPairCorr
  0.95ASHCX Allianzgi Short DurationPairCorr
  0.98RCGTX Allianzgi TechnologyPairCorr
  0.97PNBAX Allianzgi Nfj LargePairCorr
  0.97PNBCX Allianzgi Nfj LargePairCorr
  0.96PNECX Allianzgi Nfj DividendPairCorr
  0.95PNEAX Allianzgi Nfj DividendPairCorr
  0.96NFJEX Allianzgi Nfj DividendPairCorr
  0.98DRGTX Allianzgi TechnologyPairCorr
  0.98DRMCX Allianzgi Mid CapPairCorr
  0.95AWTAX Allianzgi Global WaterPairCorr
  0.95AWTCX Allianzgi Global WaterPairCorr
  0.95AWTIX Allianzgi Global WaterPairCorr
  0.98AFJAX Allianzgi Nfj InternPairCorr
  0.98AFJCX Allianzgi Nfj InternPairCorr
  0.98RGLIX Allianzgi Global NaturalPairCorr
  0.92RGSCX Allianzgi Global SmallPairCorr
  0.93RGSAX Allianzgi Global SmallPairCorr
  0.94PQNCX Allianzgi Nfj MidPairCorr
  0.94PQNAX Allianzgi Nfj MidPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Emerging 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 Emerging'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ANJIX  0.57  0.24  0.15 (3.35) 0.24 
(0.68)
 1.12 
(0.95)
 5.55 
ANNPX  0.43  0.23  0.19 (5.36) 0.00 
(0.56)
 1.18 
(0.81)
 2.61 
ANPRX  0.83  0.21  0.06 (1.22) 0.75 
(0.95)
 2.03 
(1.64)
 6.28 
PGFIX  0.83  0.34  0.19 (23.63) 0.71 
(1.01)
 2.54 
(1.50)
 5.92 
ANVIX  0.64  0.07  0.06  0.21  0.53 
(0.74)
 1.73 
(1.12)
 5.05 
ANZCX  0.42  0.16  0.16  0.50  0.00 
(0.51)
 1.19 
(0.82)
 2.63 
ANZAX  0.43  0.23  0.17 (5.20) 0.00 
(0.52)
 1.19 
(0.81)
 2.61 
PGWCX  0.84  0.20  0.18  0.33  0.72 
(1.00)
 2.51 
(1.51)
 5.92 
PGWAX  0.83  0.34  0.19 (25.69) 0.71 
(1.01)
 2.54 
(1.50)
 5.92 
AOPAX  0.47  0.23  0.20 (10.26) 0.00 
(0.59)
 1.05 
(0.67)
 2.67 

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