Allianzgi Small-cap Correlations

Mutual Funds . USA . 
Fund . Allianzgi Small Cap Fund
ASCFX Fund  USD 25.47  0.36  1.43%   
The current 90-days correlation between Allianzgi Small Cap and Rbc Emerging Markets is -0.27 (i.e., Very good diversification). The correlation of Allianzgi Small-cap 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 Small-cap Correlation With Market

Very poor diversification

The correlation between Allianzgi Small Cap Fund and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Small Cap Fund 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 Small Cap Fund. 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 price.

Moving together with Allianzgi Mutual Fund

  0.62ANJIX Allianzgi Nfj InternPairCorr
  0.84ANVIX Allianzgi Nfj LargePairCorr
  0.62ANZCX Allianzgi ConvertiblePairCorr
  0.67AOPAX Allianzgi InternationalPairCorr
  0.71AOPCX Allianzgi InternationalPairCorr
  0.81NFJEX Allianzgi Nfj DividendPairCorr
  0.79DRMCX Allianzgi Mid CapPairCorr
  0.62AFJAX Allianzgi Nfj InternPairCorr
  0.91AZBIX Allianzgi Small CapPairCorr
  0.91AZBAX Allianzgi Small CapPairCorr
  0.94VSMAX Vanguard Small CapPairCorr
  0.83VSCIX Vanguard Small CapPairCorr
  0.94VSCPX Vanguard Small CapPairCorr
  0.94NAESX Vanguard Small CapPairCorr
  0.83FSSNX Fidelity Small CapPairCorr
  0.92DFSTX Us Small CapPairCorr
  0.92PASVX T Rowe PricePairCorr
  0.83PRVIX T Rowe PricePairCorr
  0.83TRZVX T Rowe PricePairCorr
  0.83PRSVX T Rowe PricePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Small-cap 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 Small-cap'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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