Pimco Emerging Correlations

Mutual Funds . USA . 
Fund . Pimco Emerging Local
PELNX Fund  USD 6.18  0.02  0.32%   
The current 90-days correlation between Pimco Emerging Local and Mondrian Emerging Markets is 0.42 (i.e., Very weak diversification). The correlation of Pimco Emerging 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 Emerging Correlation With Market

Average diversification

The correlation between Pimco Emerging Local 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 Emerging Local 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 Emerging Local. 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 board of governors.

Moving together with Pimco Mutual Fund

  0.89PFBPX Pimco Foreign BondPairCorr
  0.9PFCJX Pimco Preferred AndPairCorr
  0.88PFIAX Pimco Floating IncomePairCorr
  0.91PFINX Pimco Capital SecPairCorr
  0.88PFNCX Pimco Floating IncomePairCorr
  0.89PFONX Pimco International BondPairCorr
  0.85PFORX Pimco Foreign BondPairCorr
  0.87PFOAX Pimco Foreign BondPairCorr
  0.82PFOCX Pimco Foreign BondPairCorr
  0.89PFRCX Foreign BondPairCorr
  0.87PFRMX Pimco Inflation ResponsePairCorr
  0.91PFPNX Pimco Capital SecPairCorr
  0.85PFRRX Pimco Foreign BondPairCorr
  0.98PFSIX Pimco Emerging MarketsPairCorr
  0.91PFUNX Pimco International BondPairCorr
  0.91PFUPX Pimco Foreign BondPairCorr
  0.94PGAPX Pimco Global MultiPairCorr
  0.87PXTIX Fundamental IndexplusPairCorr
  0.87PXTNX Pimco Rae PlusPairCorr
  0.66PGCAX Investment Grade PoratePairCorr
  0.94PGMAX Pimco Global MultiPairCorr
  0.82PGNPX Pimco Global BondPairCorr
  0.94PGMCX Pimco Global MultiPairCorr
  0.93PHDAX High Yield FundPairCorr
  0.93PHDCX High Yield FundPairCorr
  0.93PHIYX High Yield FundPairCorr
  0.67PDI Pimco Dynamic IncomePairCorr
  0.94PHNNX Pimco High YieldPairCorr

Moving against Pimco Mutual Fund

  0.6PWLBX Pimco Rae WorldwidePairCorr
  0.32PWLEX Pimco Rae WorldwidePairCorr

Related Correlations Analysis

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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   
ZEMIX
+ 1.0
MPEMX
TEMMX
+ 1.0
MPEMX
HLDFX
+ 0.99
WESJX
TEMMX
+ 0.99
ZEMIX
WESJX
+ 0.98
MPEMX
ZEMIX
+ 0.98
WESJX
  
High negative correlations   
TEMMX
- 0.12
IEMSX
ZEMIX
- 0.11
IEMSX
IEMSX
- 0.11
MPEMX
WESJX
- 0.07
IEMSX
HLDFX
- 0.04
IEMSX

Risk-Adjusted Indicators

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