Pimco Credit Correlations

Mutual Funds . USA . 
Fund . Pimco Credit Absolute
PCCRX Fund  USD 9.55  0.01  0.10%   
The current 90-days correlation between Pimco Credit Absolute and Multi Manager High Yield is 0.12 (i.e., Average diversification). The correlation of Pimco Credit 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.

Pimco Credit Correlation With Market

Average diversification

The correlation between Pimco Credit Absolute and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Credit Absolute and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Pimco Credit Absolute. 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 metropolitan statistical area.

Moving together with Pimco Mutual Fund

  0.82PFANX Pimco Capital SecPairCorr
  0.9PFIUX Pimco Unconstrained BondPairCorr
  0.88PFONX Pimco International BondPairCorr
  0.92PFORX Pimco Foreign BondPairCorr
  0.83PFNNX Pimco Preferred AndPairCorr
  0.88PFOAX Pimco Foreign BondPairCorr
  0.88PFOCX Pimco Foreign BondPairCorr
  0.9PFRMX Pimco Inflation ResponsePairCorr
  0.72PFTCX Short Term FundPairCorr
  0.76PXTIX Fundamental IndexplusPairCorr
  0.92PGBIX Global Bond FundPairCorr
  0.73PGMAX Pimco Global MultiPairCorr
  0.81PHIYX High Yield FundPairCorr
  0.7PDI Pimco Dynamic IncomePairCorr
  0.81PHLPX Pimco High YieldPairCorr
  0.79PHNNX Pimco High YieldPairCorr
  0.78PHSIX Pimco High YieldPairCorr
  0.73PZRAX Pimco Rae FundamentalPairCorr
  0.83PZRMX Pimco Inflation ResponsePairCorr
  0.97PIGIX Investment Grade PoratePairCorr
  0.96PIMIX Pimco IncomePairCorr
  0.92PIPNX Pimco IncomePairCorr
  0.74PIXAX Fundamental IndexplusPairCorr
  0.76PIXPX Pimco FundamentalPairCorr
  0.86PLDRX Low DurationPairCorr
  0.91PLDTX Low DurationPairCorr
  0.82PLMPX Pimco Emerging MarketsPairCorr
  0.87PLRIX Pimco Long TermPairCorr
  0.87PLRPX Pimco Long DurationPairCorr
  0.95PMBIX Total ReturnPairCorr

Moving against Pimco Mutual Fund

  0.51PWLEX Pimco Rae WorldwidePairCorr
  0.43PWLIX Pimco Rae WorldwidePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Pimco Mutual Fund performing well and Pimco Credit 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 Pimco Credit'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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