AllianzIM Large Correlations

APRW Etf

USD 34.63 0.04 0.12%

The current 90-days correlation between AllianzIM Large Cap and AIM ETF Products is -0.13 (i.e., Good diversification). The correlation of AllianzIM Large 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.

AllianzIM Large Correlation With Market

Good diversification

The correlation between AllianzIM Large Cap and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AllianzIM Large Cap and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AllianzIM Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in AllianzIM Large Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with AllianzIM Etf

0.88	INOV	Innovator ETFs Trust	Pair Corr
0.86	BUFR	First Trust Cboe	Pair Corr
0.9	BUFD	FT Cboe Vest	Pair Corr
0.92	PSEP	Innovator SP 500	Pair Corr
0.99	PJAN	Innovator SP 500	Pair Corr
0.95	PJUL	Innovator SP 500	Pair Corr
0.82	PAUG	Innovator Equity Power	Pair Corr
0.91	DNOV	FT Cboe Vest	Pair Corr
0.86	PMAY	Innovator SP 500	Pair Corr
0.68	ACII	Innovator ETFs Trust	Pair Corr
0.71	ITDD	iShares Trust	Pair Corr
0.83	CPST	Calamos ETF Trust	Pair Corr
0.65	KO	Coca Cola	Pair Corr
0.66	MMM	3M Company	Pair Corr
0.73	DD	Dupont De Nemours	Pair Corr
0.69	CSCO	Cisco Systems	Pair Corr
0.7	MRK	Merck Company Aggressive Push	Pair Corr
0.81	AA	Alcoa Corp	Pair Corr
0.66	MCD	McDonalds	Pair Corr
0.61	XOM	Exxon Mobil Corp	Pair Corr
0.71	BAC	Bank of America	Pair Corr

Moving against AllianzIM Etf

0.48	PG	Procter Gamble	Pair Corr
0.61	MSFT	Microsoft Sell-off Trend	Pair Corr
0.47	T	ATT Inc	Pair Corr
0.39	GE	GE Aerospace	Pair Corr
0.38	HPQ	HP Inc	Pair Corr
0.38	BA	Boeing	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.64	0.62	-0.7	0.67	-0.69	0.22	-0.07	-0.66	-0.63	META
MSFT	0.64		0.84	-0.47	0.29	-0.28	0.2	-0.22	-0.74	-0.59	MSFT
UBER	0.62	0.84		-0.6	0.5	-0.48	0.08	0.0	-0.81	-0.56	UBER
F	-0.7	-0.47	-0.6		-0.73	0.68	0.21	0.27	0.71	0.74	F
T	0.67	0.29	0.5	-0.73		-0.73	-0.34	0.02	-0.55	-0.43	T
A	-0.69	-0.28	-0.48	0.68	-0.73		-0.09	-0.24	0.67	0.36	A
CRM	0.22	0.2	0.08	0.21	-0.34	-0.09		0.21	-0.12	0.03	CRM
JPM	-0.07	-0.22	0.0	0.27	0.02	-0.24	0.21		0.06	0.25	JPM
MRK	-0.66	-0.74	-0.81	0.71	-0.55	0.67	-0.12	0.06		0.61	MRK
XOM	-0.63	-0.59	-0.56	0.74	-0.43	0.36	0.03	0.25	0.61		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.84	MSFT
XOM	+ 0.74	F
MRK	+ 0.71	F
A	+ 0.68	F
T	+ 0.67	META
MRK	+ 0.67	A

High negative correlations

MRK	- 0.81	UBER
MRK	- 0.74	MSFT
A	- 0.73	T
T	- 0.73	F
F	- 0.7	META
A	- 0.69	META

AllianzIM Large Competition Risk-Adjusted Indicators

There is a big difference between AllianzIM Etf performing well and AllianzIM Large ETF 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 AllianzIM Large'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
META	1.37	(0.32)	0.00	(0.28)	0.00	0.00	2.26	(2.72)	13.52
MSFT	0.92	(0.14)	0.00	(0.16)	0.00	0.00	1.85	(2.50)	5.08
UBER	1.61	(0.37)	0.00	(0.30)	0.00	0.00	3.34	(4.99)	10.91
F	1.50	0.15	0.09	0.16	1.74	(1.61)	3.38	(2.63)	16.30
T	0.96	(0.28)	0.00	(0.97)	0.00	0.00	1.61	(2.18)	5.75
A	1.27	0.05	0.04	0.10	1.31	(1.39)	2.34	(2.21)	11.03
CRM	1.58	0.06	0.03	0.12	2.05	(1.55)	3.66	(2.92)	9.91
JPM	1.00	(0.04)	(0.02)	0.03	1.47	(0.96)	2.00	(1.91)	7.02
MRK	1.40	0.28	0.20	0.41	1.14	(1.81)	4.85	(2.06)	11.45
XOM	0.97	0.03	(0.01)	0.23	1.02	(1.02)	1.96	(1.51)	4.99

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