Pimco Foreign Correlations

Mutual Funds . USA . 
Fund . Pimco Foreign Bond
PFBPX Fund  USD 9.91  0.03  0.30%   
The current 90-days correlation between Pimco Foreign Bond and Pimco Rae Worldwide is 0.46 (i.e., Very weak diversification). The correlation of Pimco Foreign 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.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Pimco Foreign Bond. 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 american community survey.

Moving together with Pimco Mutual Fund

  0.86PFCJX Pimco Preferred AndPairCorr
  0.86PFANX Pimco Capital SecPairCorr
  0.92PFIAX Pimco Floating IncomePairCorr
  0.92PFIIX Pimco Floating IncomePairCorr
  0.92PFIUX Pimco Unconstrained BondPairCorr
  0.87PFINX Pimco Capital SecPairCorr
  0.61PFMIX Municipal BondPairCorr
  0.94PFNCX Pimco Floating IncomePairCorr
  1.0PFONX Pimco International BondPairCorr
  0.95PFORX Pimco Foreign BondPairCorr
  0.87PFNNX Pimco Preferred AndPairCorr
  0.91PFNIX Pimco Low DurationPairCorr
  0.94PFNUX Pimco Dynamic BondPairCorr
  1.0PFOAX Pimco Foreign BondPairCorr
  0.94PFOCX Pimco Foreign BondPairCorr
  0.84PFRCX Foreign BondPairCorr
  0.94PFRAX Pimco Foreign BondPairCorr
  0.89PFRMX Pimco Inflation ResponsePairCorr
  0.87PFPNX Pimco Capital SecPairCorr
  0.85PFTCX Short Term FundPairCorr
  0.93PFTPX Pimco Floating IncomePairCorr
  0.94PFRRX Pimco Foreign BondPairCorr
  0.91PFSIX Pimco Emerging MarketsPairCorr
  0.86PFUUX Pimco Foreign BondPairCorr
  0.9PFUAX Foreign BondPairCorr
  0.86PFUIX Foreign BondPairCorr
  0.91PFUNX Pimco International BondPairCorr
  0.86PFUPX Pimco Foreign BondPairCorr
  0.81PGAPX Pimco Global MultiPairCorr
  0.81PXTIX Fundamental IndexplusPairCorr
  0.8PXTNX Pimco Rae PlusPairCorr
  0.92PGBIX Global Bond FundPairCorr

Moving against Pimco Mutual Fund

  0.75PWLBX Pimco Rae WorldwidePairCorr
  0.45PWLEX Pimco Rae WorldwidePairCorr
  0.39PWLMX Pimco Rae WorldwidePairCorr
  0.36PWLIX 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   
PNYAX
+ 1.0
PNYNX
PWLIX
+ 0.99
PWLEX
PWLIX
+ 0.99
PWLMX
PNYPX
+ 0.99
PNYIX
PWLMX
+ 0.98
PWLEX
PNYNX
+ 0.87
PNYIX
  
High negative correlations   
PWLBX
- 0.48
PNRNX
PNRNX
- 0.47
PWLEX
PWLIX
- 0.43
PNRNX
PWLMX
- 0.43
PNRNX
PNYIX
- 0.03
PWLBX
PNYAX
- 0.01
PWLBX

Risk-Adjusted Indicators

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