Allianzgi Emerging Correlations

AOTIX Fund

USD 29.96 0.06 0.20%

The current 90-days correlation between Allianzgi Emerging and Ultraemerging Markets Profund is 0.76 (i.e., Poor diversification). The correlation of Allianzgi Emerging 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 Emerging Correlation With Market

Weak diversification

The correlation between Allianzgi Emerging Markets and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Emerging Markets 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 Emerging Markets. 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 gross domestic product.

Moving together with Allianzgi Mutual Fund

0.94	ANJIX	Allianzgi Nfj Intern	Pair Corr
1.0	AOTAX	Allianzgi Emerging	Pair Corr
1.0	AOTCX	Allianzgi Emerging	Pair Corr
0.81	ASUAX	Allianzgi Global Sus	Pair Corr

Related Correlations Analysis

	UUPIX	ANJIX	CHUSX	QFFOX	AOTAX
UUPIX		0.92	0.3	-0.12	0.94	UUPIX
ANJIX	0.92		0.06	-0.35	0.94	ANJIX
CHUSX	0.3	0.06		0.56	0.24	CHUSX
QFFOX	-0.12	-0.35	0.56		-0.16	QFFOX
AOTAX	0.94	0.94	0.24	-0.16		AOTAX
	UUPIX	ANJIX	CHUSX	QFFOX	AOTAX

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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

AOTAX	+ 0.94	UUPIX
AOTAX	+ 0.94	ANJIX
ANJIX	+ 0.92	UUPIX
QFFOX	+ 0.56	CHUSX
CHUSX	+ 0.3	UUPIX
AOTAX	+ 0.24	CHUSX

High negative correlations

QFFOX	- 0.35	ANJIX
AOTAX	- 0.16	QFFOX
QFFOX	- 0.12	UUPIX

Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Emerging 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 Emerging'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
UUPIX	1.93	(0.01)	0.00	0.12	2.34	(2.17)	4.62	(4.54)	15.96
ANJIX	0.72	(0.06)	0.00	(0.05)	0.00	0.00	1.47	(2.34)	5.86
CHUSX	0.66	(0.01)	(0.03)	0.11	0.87	(0.69)	1.30	(1.55)	3.98
QFFOX	0.57	0.04	(0.15)	(0.32)	0.59	(0.68)	1.32	(1.30)	3.83
AOTAX	0.65	(0.09)	0.00	(0.10)	0.00	0.00	1.39	(1.72)	4.03

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