Allianzgi Mid Correlations

Mutual Funds USA . 
Fund . Allianzgi Mid Cap Fund
RMDCX Fund  USD 3.41  0.02  0.59%   
The current 90-days correlation between Allianzgi Mid Cap and Allianzgi Nfj International is 0.41 (i.e., Very weak diversification). The correlation of Allianzgi Mid 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 Correlation With Market

Poor diversification

The correlation between Allianzgi Mid Cap Fund and DJI is 0.78 (i.e., Poor 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 Your Equity Center 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 main economic indicators.

Moving together with Allianzgi Mutual Fund

  0.97ANJIX Allianzgi Nfj InternPairCorr
  0.98ANNPX Allianzgi ConvertiblePairCorr
  0.95ANPRX Allianzgi Nfj MidPairCorr
  0.99PGFIX Allianzgi Focused GrowthPairCorr
  0.97ANVIX Allianzgi Nfj LargePairCorr
  0.98ANZCX Allianzgi ConvertiblePairCorr
  0.99ANZAX Allianzgi ConvertiblePairCorr
  0.99PGWCX Allianzgi Focused GrowthPairCorr
  0.99PGWAX Allianzgi Focused GrowthPairCorr
  0.96AOPAX Allianzgi InternationalPairCorr
  0.96AOPCX Allianzgi InternationalPairCorr
  0.98AOTIX Allianzgi EmergingPairCorr
  0.98AOTAX Allianzgi EmergingPairCorr
  0.98AOTCX Allianzgi EmergingPairCorr
  0.73RAGTX Allianzgi TechnologyPairCorr
  0.99ASCFX Allianzgi Small CapPairCorr
  0.98ASHIX Allianzgi Short DurationPairCorr
  0.98ASHAX Allianzgi Short DurationPairCorr
  0.98ASHCX Allianzgi Short DurationPairCorr
  1.0RCGTX Allianzgi TechnologyPairCorr
  0.97PNBAX Allianzgi Nfj LargePairCorr
  0.97PNBCX Allianzgi Nfj LargePairCorr
  0.95PNECX Allianzgi Nfj DividendPairCorr
  0.96PNEAX Allianzgi Nfj DividendPairCorr
  0.96NFJEX Allianzgi Nfj DividendPairCorr
  1.0DRGTX Allianzgi TechnologyPairCorr
  1.0DRMCX Allianzgi Mid CapPairCorr
  0.96AWTAX Allianzgi Global WaterPairCorr
  0.96AWTCX Allianzgi Global WaterPairCorr
  0.96AWTIX Allianzgi Global WaterPairCorr
  0.97AFJAX Allianzgi Nfj InternPairCorr
  0.97AFJCX Allianzgi Nfj InternPairCorr
  0.99RGLIX Allianzgi Global NaturalPairCorr
  0.95RGSCX Allianzgi Global SmallPairCorr
  0.95RGSAX Allianzgi Global SmallPairCorr
  0.95PQNCX Allianzgi Nfj MidPairCorr
  0.95PQNAX Allianzgi Nfj MidPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Mid 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'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
ANJIX  0.55  0.18  0.13  0.71  0.31 
(0.65)
 1.06 
(0.95)
 5.55 
ANNPX  0.43  0.16  0.17  0.52  0.00 
(0.54)
 1.18 
(0.81)
 2.61 
ANPRX  0.81  0.05  0.04  0.18  0.75 
(0.93)
 2.03 
(1.64)
 6.28 
PGFIX  0.84  0.20  0.19  0.33  0.71 
(1.00)
 2.54 
(1.50)
 5.92 
ANVIX  0.64  0.07  0.06  0.21  0.53 
(0.74)
 1.73 
(1.12)
 5.05 
ANZCX  0.42  0.16  0.16  0.50  0.00 
(0.51)
 1.19 
(0.82)
 2.63 
ANZAX  0.42  0.15  0.15  0.49  0.00 
(0.50)
 1.19 
(0.81)
 2.61 
PGWCX  0.84  0.20  0.18  0.33  0.72 
(1.00)
 2.51 
(1.51)
 5.92 
PGWAX  0.84  0.20  0.18  0.33  0.71 
(1.00)
 2.54 
(1.50)
 5.92 
AOPAX  0.45  0.19  0.14  2.29  0.00 
(0.55)
 1.05 
(0.67)
 2.15 

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