Allianzgi Small-cap Correlations

AZBAX Fund

USD 22.77 0.13 0.57%

The current 90-days correlation between Allianzgi Small Cap and Aqr Sustainable Long Short is 0.3 (i.e., Weak 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

Poor diversification

The correlation between Allianzgi Small Cap Blend and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Small Cap Blend 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 Blend. 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

0.98	VSMAX	Vanguard Small Cap	Pair Corr
0.98	VSCIX	Vanguard Small Cap	Pair Corr
0.98	VSCPX	Vanguard Small Cap	Pair Corr
0.98	NAESX	Vanguard Small Cap	Pair Corr
0.97	FSSNX	Fidelity Small Cap	Pair Corr
0.98	DFSTX	Us Small Cap	Pair Corr
0.98	PRVIX	T Rowe Price	Pair Corr
0.98	TRZVX	T Rowe Price	Pair Corr
0.65	CAT	Caterpillar	Pair Corr
0.68	IBM	International Business	Pair Corr
0.64	CSCO	Cisco Systems	Pair Corr
0.61	CVX	Chevron Corp	Pair Corr

Moving against Allianzgi Mutual Fund

0.54

MCD

McDonalds

Pair Corr

Related Correlations Analysis

	QNZIX	QLERX	BDMKX	BPIRX	CMGUX	BXDCX
QNZIX		0.9	0.95	0.94	0.92	0.92	QNZIX
QLERX	0.9		0.86	0.93	0.79	0.8	QLERX
BDMKX	0.95	0.86		0.94	0.94	0.93	BDMKX
BPIRX	0.94	0.93	0.94		0.91	0.88	BPIRX
CMGUX	0.92	0.79	0.94	0.91		0.97	CMGUX
BXDCX	0.92	0.8	0.93	0.88	0.97		BXDCX
	QNZIX	QLERX	BDMKX	BPIRX	CMGUX	BXDCX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
QNZIX	0.42	0.08	(0.16)	0.68	0.28	(0.48)	0.88	(0.75)	2.52
QLERX	0.29	0.06	(0.27)	0.63	0.18	(0.35)	0.64	(0.69)	1.91
BDMKX	0.08	0.04	(1.37)	2.51	0.00	(0.15)	0.22	(0.11)	0.33
BPIRX	0.32	0.05	(0.21)	0.36	0.08	(0.38)	0.71	(0.48)	2.24
CMGUX	0.05	0.01	0.00	1.40	0.00	0.00	0.11	0.00	0.55
BXDCX	0.09	0.02	(1.32)	14.03	0.00	(0.16)	0.22	(0.11)	0.76

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