Fixed Income Correlations

Mutual Funds . USA . 
Fund . Fixed Income Shares
FXIMX Fund  USD 8.72  0.02  0.23%   
The current 90-days correlation between Fixed Income Shares and Fabwx is -0.04 (i.e., Good diversification). The correlation of Fixed Income 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.

Fixed Income Correlation With Market

Good diversification

The correlation between Fixed Income Shares and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fixed Income Shares 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 Fixed Income Shares. 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 population.

Moving together with Fixed Mutual Fund

  0.95PFBPX Pimco Foreign BondPairCorr
  0.85PFCJX Pimco Preferred AndPairCorr
  0.74PFANX Pimco Capital SecPairCorr
  0.93PFIAX Pimco Floating IncomePairCorr
  0.77PFIIX Pimco Floating IncomePairCorr
  0.77PFIUX Pimco Unconstrained BondPairCorr
  0.65PFINX Pimco Capital SecPairCorr
  0.62PFMIX Municipal BondPairCorr
  0.93PFNCX Pimco Floating IncomePairCorr
  0.95PFONX Pimco International BondPairCorr
  0.95PFORX Pimco Foreign BondPairCorr
  0.66PFNNX Pimco Preferred AndPairCorr
  0.8PFNIX Pimco Low DurationPairCorr
  0.96PFNUX Pimco Dynamic BondPairCorr
  0.94PFOAX Pimco Foreign BondPairCorr
  0.94PFOCX Pimco Foreign BondPairCorr
  0.86PFRCX Foreign BondPairCorr
  0.76PFRAX Pimco Foreign BondPairCorr
  0.66PFRMX Pimco Inflation ResponsePairCorr
  0.65PFPNX Pimco Capital SecPairCorr
  0.78PFTCX Short Term FundPairCorr
  0.68PFTPX Pimco Floating IncomePairCorr
  0.95PFRRX Pimco Foreign BondPairCorr
  0.67PFSIX Pimco Emerging MarketsPairCorr
  0.88PFUUX Pimco Foreign BondPairCorr
  0.88PFUAX Foreign BondPairCorr
  0.88PFUIX Foreign BondPairCorr
  0.88PFUNX Pimco International BondPairCorr
  0.73PFUPX Pimco Foreign BondPairCorr
  0.79PGAPX Pimco Global MultiPairCorr
  0.79PXTIX Fundamental IndexplusPairCorr
  0.83PGBIX Global Bond FundPairCorr

Moving against Fixed Mutual Fund

  0.73PWLBX Pimco Rae WorldwidePairCorr
  0.5PWLEX Pimco Rae WorldwidePairCorr
  0.46PWLMX Pimco Rae WorldwidePairCorr
  0.4PWLIX Pimco Rae WorldwidePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Fixed Mutual Fund performing well and Fixed Income 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 Fixed Income'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.

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