Allianzgi Technology Correlations

DRGTX Fund

USD 89.85 0.88 0.99%

The current 90-days correlation between Allianzgi Technology and Allianzgi Technology Fund is 1.0 (i.e., No risk reduction). The correlation of Allianzgi Technology 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 Technology Correlation With Market

Poor diversification

The correlation between Allianzgi Technology Fund and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Allianzgi Technology 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 Technology 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 estimate.

Moving together with Allianzgi Mutual Fund

0.8	WEBB	Web Global Holdings	Pair Corr
0.76	WGNR	Wegener	Pair Corr
0.8	CETXP	Cemtrex Pref	Pair Corr
0.7	GVP	GSE Systems	Pair Corr

Moving against Allianzgi Mutual Fund

0.87	DLPX	Delphax Technologies	Pair Corr
0.75	VVPR	VivoPower International Tech Boost	Pair Corr
0.73	VHAI	VHAI	Pair Corr
0.58	DZSI	DZS Inc	Pair Corr
0.56	XELAP	Exela Technologies	Pair Corr
0.33	ELCO	Elcom International	Pair Corr
0.91	EVOL	Evolving Systems	Pair Corr
0.64	SBIGW	SpringBig Holdings	Pair Corr
0.52	XELA	Exela Technologies Tech Boost	Pair Corr
0.86	GETR	Getaround Financial Report 20th of December 2024	Pair Corr
0.85	ZPTAW	Zapata Computing Holdings	Pair Corr
0.8	ZPTA	Zapata Computing Holdings Symbol Change	Pair Corr
0.79	VLD	Velo3D Inc	Pair Corr
0.75	SURGW	SurgePays Warrant	Pair Corr
0.32	GTLL	Global Techs	Pair Corr

Related Correlations Analysis

	RAGTX	PGWCX	CTHCX	FELCX	FELTX
RAGTX		0.98	0.98	0.81	0.82	RAGTX
PGWCX	0.98		0.98	0.8	0.8	PGWCX
CTHCX	0.98	0.98		0.89	0.89	CTHCX
FELCX	0.81	0.8	0.89		1.0	FELCX
FELTX	0.82	0.8	0.89	1.0		FELTX
	RAGTX	PGWCX	CTHCX	FELCX	FELTX

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Risk-Adjusted Indicators

There is a big difference between Allianzgi Mutual Fund performing well and Allianzgi Technology 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 Technology'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
RAGTX	0.94	0.02	0.02	0.14	1.47	(0.86)	1.80	(2.47)	6.65
PGWCX	0.75	0.03	0.01	0.16	1.02	(0.73)	1.70	(1.85)	5.08
CTHCX	0.95	(0.02)	(0.01)	0.11	1.35	(0.96)	1.95	(2.56)	6.08
FELCX	1.58	(0.15)	(0.03)	0.03	2.43	(1.50)	3.24	(4.39)	9.84
FELTX	1.58	(0.15)	(0.03)	0.03	2.42	(1.50)	3.24	(4.38)	9.85

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