Allianzgi Global Correlations

Mutual Funds . USA . 
Fund . Allianzgi Global Small Cap
RGSCX Fund  USD 22.51  0.04  0.18%   
The current 90-days correlation between Allianzgi Global Small and Morningstar Aggressive Growth is 0.61 (i.e., Poor 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

Poor diversification

The correlation between Allianzgi Global Small Cap and DJI is 0.62 (i.e., Poor 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 Your Equity Center 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 interest.

Moving together with Allianzgi Mutual Fund

  1.0RGSAX Allianzgi Global SmallPairCorr

Moving against Allianzgi Mutual Fund

  0.84ANNPX Allianzgi ConvertiblePairCorr
  0.84ANZCX Allianzgi ConvertiblePairCorr
  0.84ANZAX Allianzgi ConvertiblePairCorr
  0.8AOTIX Allianzgi EmergingPairCorr
  0.8AOTAX Allianzgi EmergingPairCorr
  0.8AOTCX Allianzgi EmergingPairCorr
  0.77RAGTX Allianzgi TechnologyPairCorr
  0.77RCGTX Allianzgi TechnologyPairCorr
  0.77DRGTX Allianzgi TechnologyPairCorr
  0.76ANJIX Allianzgi Nfj InternPairCorr
  0.7PGFIX Allianzgi Focused GrowthPairCorr
  0.7PGWCX Allianzgi Focused GrowthPairCorr
  0.7PGWAX Allianzgi Focused GrowthPairCorr
  0.68RAGHX Allianzgi Health SciencesPairCorr
  0.68HLHIX Allianzgi Health SciencesPairCorr
  0.68RCGHX Allianzgi Health SciencesPairCorr
  0.61AOPAX Allianzgi InternationalPairCorr
  0.6AOPCX Allianzgi InternationalPairCorr
  0.54DRMCX Allianzgi Mid CapPairCorr
  0.34ASHAX Allianzgi Short DurationPairCorr
  0.82AZMCX Allianzgi Nfj EmergingPairCorr
  0.82AZMAX Allianzgi Nfj EmergingPairCorr
  0.8AZNAX Allianzgi Income GrowthPairCorr
  0.79AZMIX Allianzgi Nfj EmergingPairCorr
  0.77AZNCX Allianzgi Income GrowthPairCorr
  0.76AFJAX Allianzgi Nfj InternPairCorr
  0.75AFJCX Allianzgi Nfj InternPairCorr
  0.73PALAX Allianzgi Global AllPairCorr
  0.73PALLX Allianzgi Global AllPairCorr
  0.72PALCX Allianzgi Global AllPairCorr

Related Correlations Analysis


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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