Allianzgi Global Correlations

Mutual Funds . USA . 
Fund . Allianzgi Global Small Cap
DGSCX Fund  USD 41.93  0.19  0.46%   
The current 90-days correlation between Allianzgi Global Small and Qs Large Cap is 0.49 (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 weak diversification

The correlation between Allianzgi Global Small Cap 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 Global Small Cap and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Allianzgi Global Small Cap. 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 main economic indicators.

Moving together with Allianzgi Mutual Fund

  0.9FSWFX American Funds SmallcapPairCorr
  0.9FSFWX American Funds SmallcapPairCorr
  0.91SCWCX American Fds SmallcapPairCorr
  0.9SCWFX Smallcap WorldPairCorr
  0.9SMCWX Smallcap WorldPairCorr
  0.9CSPFX Smallcap WorldPairCorr
  0.9CSPAX Smallcap WorldPairCorr
  0.9CSPEX Smallcap WorldPairCorr
  0.9RSLCX Smallcap WorldPairCorr
  0.9RLLGX Smallcap WorldPairCorr
  0.79PDI Pimco Dynamic IncomePairCorr
  0.79FTCAX Templeton Strained BondPairCorr
  0.91RIVKX American Funds InterPairCorr
  0.93FDEGX Fidelity Growth StraPairCorr
  0.9DQIYX Dreyfus Equity IncomePairCorr
  0.82PSHAX Short Term FundPairCorr
  0.85JPM JPMorgan ChasePairCorr
  0.88BA Boeing Earnings Call This WeekPairCorr

Moving against Allianzgi Mutual Fund

  0.93USPSX Profunds Ultrashort Potential GrowthPairCorr
  0.93USPIX Profunds Ultrashort Potential GrowthPairCorr
  0.5UIPIX Ultrashort Mid CapPairCorr

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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