Statistics of Price Movements of Allianzgi Diversified Income & (ACV)

The price movements of Allianzgi Diversified Income & (ticker ACV) are summarized in five ways:

• Table 1. Statistics of daily price changes using the closing prices
• Table 2. Statistics of daily price changes using the closing and opening prices
• Table 3 – 7. Statistics of daily price changes when ACV opened with an increase of 1%, 2%, 3%, 4%, or more than 5%
• Table 8 – 10. Statistics of stock price changes in the 20 days after ACV had a big price move
• Table 11. Statistics of daily price changes in the 20 days after ACV moved 5% with twice the 30-day average volume

The statistics are calculated using ACV's price data across 1,448 trading days from 2015 to 2020.

Table 1. Statistics of ACV one-day price changes

In this table, the one-day price change is calculated using the closing price and the previous day's closing price.

In the past 1,448 trading days, 52.0% of the time (753 days), ACV closed above the previous day's closing price. 42.2% of the time (611 days), it closed below the previous day's closing price. 5.7% of the time (83 days), it did not change.

Also see: VIX price movement study.

ACV Price Change (%)	Number of Days	% of Total Sessions
15 – 16%	1	0.07%
13 – 14%	1	0.07%
10 – 11%	1	0.07%
9 – 10%	1	0.07%
8 – 9%	1	0.07%
7 – 8%	1	0.07%
6 – 7%	2	0.14%
5 – 6%	1	0.07%
4 – 5%	1	0.07%
3 – 4%	15	1.04%
2 – 3%	33	2.28%
1 – 2%	177	12.23%
0 – 1%	518	35.80%
0%	83	5.74%
0 – -1%	409	28.27%
-1 – -2%	127	8.78%
-2 – -3%	39	2.70%
-3 – -4%	16	1.11%
-4 – -5%	5	0.35%
-5 – -6%	8	0.55%
-6 – -7%	2	0.14%
-8 – -9%	1	0.07%
-10 – -11%	1	0.07%
-13 – -14%	1	0.07%
-18 – -19%	1	0.07%
-23 – -24%	1	0.07%

Table 2. Statistics of ACV: Closing vs. Open

In this table, instead of using the closing price of the previous day, the opening price is used to calculate the one-day price change of ACV.

46.2% of the time (669 days), ACV closed above the opening price. 47.6% of the time (689 days), it closed below the opening price. 6.2% of the time (90 days), it closed where it started.

Closing - Open (%)	Number of Days	% of Total Sessions
14 – 15%	1	0.07%
10 – 11%	1	0.07%
9 – 10%	2	0.14%
7 – 8%	1	0.07%
5 – 6%	3	0.21%
4 – 5%	1	0.07%
3 – 4%	6	0.41%
2 – 3%	27	1.86%
1 – 2%	122	8.43%
0 – 1%	505	34.88%
0%	90	6.22%
0 – -1%	485	33.49%
-1 – -2%	145	10.01%
-2 – -3%	33	2.28%
-3 – -4%	14	0.97%
-4 – -5%	4	0.28%
-5 – -6%	4	0.28%
-7 – -8%	2	0.14%
-8 – -9%	1	0.07%
-14 – -15%	1	0.07%

Table 3. One-day performance when ACV opened 5% higher than previous close

In the past 1,448 trading days, ACV opened more than 5% higher than the previous day's closing price 0 times. Of these days, NaN% (0 days) had closing prices above the opening price, and NaN% (0 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions

Table 4. Closing vs. open when ACV opened 4–5% higher

On 1 days, ACV opened 4–5% higher than the previous day's closing price. Of these days, 100.0% (1 days) had closing prices above the opening price, and 0.0% (0 days) had closing prices below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
5 – 6%	1	100.00%

Table 5. Closing vs. open when ACV open 3 – 4% higher

1 times ACV opened 3 – 4% higher than the previous day's closing price. Among these days, 0.0% (0 days) closed above the opening price, 100.0% (1 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
-2 – -3%	1	100.00%

Table 6. Closing vs. open when ACV open 2 – 3% higher

15 times ACV opened 2 – 3% higher than the previous day's closing price. Among these days, 40.0% (6 days) closed above the opening price, 53.3% (8 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
10 – 11%	1	6.67%
4 – 5%	1	6.67%
3 – 4%	1	6.67%
1 – 2%	2	13.33%
0 – 1%	1	6.67%
0%	1	6.67%
0 – -1%	2	13.33%
-1 – -2%	1	6.67%
-2 – -3%	2	13.33%
-3 – -4%	3	20.00%

Table 7. Closing vs. open when ACV open 1 – 2% higher

56 times ACV opened 1 – 2% higher than the previous day's closing price. Among these days, 55.4% (31 days) closed above the opening price, 42.9% (24 days) closed below the opening price.

Closing - Open (%)	Number of Days	% of Total Sessions
2 – 3%	3	5.36%
1 – 2%	10	17.86%
0 – 1%	18	32.14%
0%	1	1.79%
0 – -1%	18	32.14%
-1 – -2%	3	5.36%
-2 – -3%	3	5.36%

Table 8. Periods when ACV moved 15% or more

In this table, we track the price movements in the 20 days after ACV had a one-day price change of at least 15%.

Date	Price Change	Price Change after 15% Move
Days after:		1	4	7	10	13	16	19
20200319	15%	9.2	20.2	26.9	18.2	33.2	40.5	43.9
20200312	-18.2%	10.5	-24.6	-15.3	10.3	10.7	1.4	19.0
20200318	-23%	15.0	27.3	40.8	37.9	44.3	61.6	66.4

Table 8a. ACV average price changes following a 15% up day

Of the 1,448 trading days from 2015 to 2020, there were 1 days in which ACV was up more than 15%. This table shows the average price changes over the 1 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 15%	9.2	20.2	26.9	18.2	33.2	40.5	43.9

Table 8b. ACV average price changes following a 15% down day

Of the 1,448 trading days from 2015 to 2020, there were 2 days in which ACV was down more than -15%. This table shows the average price changes over the 2 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -15%	12.8	1.4	12.8	24.1	27.5	31.5	42.7

Table 9. Periods when ACV moved 10% or more

In this table, we track the price movements in the 20 days after ACV had a one-day price change of at least 10%.

Date	Price Change	Price Change after 10% Move
Days after:		1	4	7	10	13	16	19
20200319	15%	9.2	20.2	26.9	18.2	33.2	40.5	43.9
20200324	13.2%	8.5	14.6	6.7	20.3	26.9	30.0	28.6
20200313	10.5%	-13.3	-21.5	-13.1	-4.0	-6.0	-1.6	10.2
20200323	-10.5%	13.3	25.3	22.7	28.4	43.8	48.0	46.6
20200316	-13.2%	2.2	-1.2	8.7	14.8	6.9	20.5	27.1
20200312	-18.2%	10.5	-24.6	-15.3	10.3	10.7	1.4	19.0
20200318	-23%	15.0	27.3	40.8	37.9	44.3	61.6	66.4

Table 9a. ACV average price changes following a 10% up day

Of the 1,448 trading days from 2015 to 2020, there were 3 days in which ACV was up more than 10%. This table shows the average price changes over the 3 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 10%	1.5	4.4	6.8	11.5	18.1	23.0	27.6

Table 9b. ACV average price changes following a 10% down day

Of the 1,448 trading days from 2015 to 2020, there were 4 days in which ACV was down more than -10%. This table shows the average price changes over the 4 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -10%	10.3	6.7	14.2	22.8	26.4	32.9	39.8

Table 10. Periods when ACV moved 5% or more

In this table, we track the price movements in the 20 days after ACV had a one-day price change of at least 5%.

Date	Price Change	Price Change after 5% Move
Days after:		1	4	7	10	13	16	19
20200319	15%	9.2	20.2	26.9	18.2	33.2	40.5	43.9
20200324	13.2%	8.5	14.6	6.7	20.3	26.9	30.0	28.6
20200313	10.5%	-13.3	-21.5	-13.1	-4.0	-6.0	-1.6	10.2
20200320	9.2%	-10.5	16.4	16.9	7.1	25.7	27.2	29.4
20200325	8.5%	5.8	6.3	-2.7	14.2	15.7	17.6	16.7
20200406	7.2%	6.2	12.0	14.7	13.5	13.2	13.8	12.2
20200302	6.3%	.4	-.1	-13.9	-32.6	-39.0	-32.5	-25.3
20200407	6.1%	3.0	4.3	6.1	5.2	7.0	9.0	6.7
20200326	5.8%	-3.7	-5.7	-1.3	10.5	13.7	12.7	12.4
20150928	-5.2%	-.7	3.6	6.2	6.7	7.1	6.7	9.1
20200513	-5.2%	-.1	3.5	5.8	8.9	13.6	15.0	17.4
20181217	-5.3%	-2.4	-12.5	-10.5	-8.1	-7.7	-.3	2.5
20200611	-5.5%	.0	2.3	2.4	1.5	2.2	7.0	7.4
20150824	-5.7%	-1.1	7.0	5.7	3.2	2.6	3.1	6.0
20170810	-5.7%	.6	2.8	1.6	2.1	2.4	4.5	3.3
20181010	-5.8%	-1.3	4.3	3.6	-.2	-4.7	1.0	3.5
20200309	-5.8%	-.4	-17.3	-43.6	-36.6	-17.5	-17.2	-24.1
20200401	-6.1%	-1.4	11.1	17.2	20.1	18.8	18.5	19.1
20200227	-6.8%	-4.9	4.7	-4.9	-28.8	-30.3	-32.6	-25.8
20200311	-8%	-18.3	-19.9	-22.6	-14.8	-10.1	-16.2	-5.6
20200323	-10.5%	13.3	25.3	22.7	28.4	43.8	48.0	46.6
20200316	-13.2%	2.2	-1.2	8.7	14.8	6.9	20.5	27.1
20200312	-18.2%	10.5	-24.6	-15.3	10.3	10.7	1.4	19.0
20200318	-23%	15.0	27.3	40.8	37.9	44.3	61.6	66.4

Table 10a. ACV average price changes following a 5% up day

Of the 1,448 trading days from 2015 to 2020, there were 9 days in which ACV was up more than 5%. This table shows the average price changes over the 9 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ 5%	.6	5.2	4.5	5.8	10.0	13.0	15.0

Table 10b. ACV average price changes following a 5% down day

Of the 1,448 trading days from 2015 to 2020, there were 15 days in which ACV was down more than -5%. This table shows the average price changes over the 15 days.

Average Type	Average Price Change
Days after:	1	4	7	10	13	16	19
Avg for Change ≥ -5%	.7	1.1	1.2	3.0	5.5	8.1	11.5

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Also see: VIX price movement study.