Allianzgi Mid-cap Correlations

DRMCX Fund

USD 7.01 0.07 1.01%

The current 90-days correlation between Allianzgi Mid Cap and Thrivent Natural Resources is -0.07 (i.e., Good diversification). The correlation of Allianzgi Mid-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 Mid-cap Correlation With Market

Significant diversification

The correlation between Allianzgi Mid Cap Fund and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Mid Cap Fund 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 Mid 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 private.

Moving together with Allianzgi Mutual Fund

0.8	ANVIX	Allianzgi Nfj Large	Pair Corr
0.82	ASCFX	Allianzgi Small Cap	Pair Corr
0.63	RCGTX	Allianzgi Technology	Pair Corr
0.79	PNBAX	Allianzgi Nfj Large	Pair Corr
0.78	PNBCX	Allianzgi Nfj Large	Pair Corr
0.63	AWTAX	Allianzgi Global Water	Pair Corr

Moving against Allianzgi Mutual Fund

0.41	RAGHX	Allianzgi Health Sciences	Pair Corr
0.33	HLHIX	Allianzgi Health Sciences	Pair Corr
0.33	RCGHX	Allianzgi Health Sciences	Pair Corr

Related Correlations Analysis

	TREIX	FIKAX	GMOWX	BCX	PSPFX	XTYGX	IEFCX	ICBAX
TREIX		0.09	0.65	-0.11	0.85	0.49	0.04	0.57	TREIX
FIKAX	0.09		0.52	0.49	0.25	0.16	0.94	-0.24	FIKAX
GMOWX	0.65	0.52		0.3	0.73	0.45	0.62	0.26	GMOWX
BCX	-0.11	0.49	0.3		0.17	0.53	0.54	-0.06	BCX
PSPFX	0.85	0.25	0.73	0.17		0.63	0.2	0.43	PSPFX
XTYGX	0.49	0.16	0.45	0.53	0.63		0.16	0.4	XTYGX
IEFCX	0.04	0.94	0.62	0.54	0.2	0.16		-0.26	IEFCX
ICBAX	0.57	-0.24	0.26	-0.06	0.43	0.4	-0.26		ICBAX
	TREIX	FIKAX	GMOWX	BCX	PSPFX	XTYGX	IEFCX	ICBAX

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

IEFCX	+ 0.94	FIKAX
PSPFX	+ 0.85	TREIX
PSPFX	+ 0.73	GMOWX
GMOWX	+ 0.65	TREIX
XTYGX	+ 0.63	PSPFX
IEFCX	+ 0.62	GMOWX

High negative correlations

ICBAX	- 0.26	IEFCX
ICBAX	- 0.24	FIKAX
BCX	- 0.11	TREIX
ICBAX	- 0.06	BCX

Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Mid-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 Mid-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
TREIX	0.05	0.00	(0.29)	0.12	0.00	(0.11)	0.10	(0.20)	0.41
FIKAX	0.77	0.04	0.00	0.21	0.99	(0.85)	1.63	(1.77)	4.98
GMOWX	0.93	0.01	0.00	0.08	1.13	(1.02)	2.02	(1.83)	5.52
BCX	0.64	0.02	(0.01)	0.08	0.72	(0.73)	1.60	(1.18)	3.98
PSPFX	1.21	0.32	0.18	0.44	1.27	(1.47)	2.91	(2.26)	7.71
XTYGX	0.75	0.00	(0.03)	0.05	0.88	(0.85)	1.60	(1.53)	4.51
IEFCX	0.81	(0.01)	(0.04)	0.04	1.07	(0.80)	1.52	(1.61)	4.52
ICBAX	1.09	0.08	0.01	(0.37)	1.23	(1.28)	2.23	(1.92)	6.25

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