Pimco Floating Correlations

Mutual Funds . USA . 
Fund . Pimco Floating Income
PFIIX Fund  USD 8.16  0.01  0.12%   
The current 90-days correlation between Pimco Floating Income and Pimco Income Fund is 0.92 (i.e., Almost no diversification). The correlation of Pimco Floating 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 Floating Correlation With Market

Weak diversification

The correlation between Pimco Floating Income and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Floating Income 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 Floating Income. 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 gross domestic product.

Moving together with Pimco Mutual Fund

  0.93PFBPX Pimco Foreign BondPairCorr
  0.96PFCJX Pimco Preferred AndPairCorr
  0.96PFANX Pimco Capital SecPairCorr
  1.0PFIAX Pimco Floating IncomePairCorr
  0.99PFIUX Pimco Unconstrained BondPairCorr
  0.96PFINX Pimco Capital SecPairCorr
  0.61PFMIX Municipal BondPairCorr
  1.0PFNCX Pimco Floating IncomePairCorr
  0.93PFONX Pimco International BondPairCorr
  0.93PFORX Pimco Foreign BondPairCorr
  0.97PFNNX Pimco Preferred AndPairCorr
  1.0PFNIX Pimco Low DurationPairCorr
  0.99PFNUX Pimco Dynamic BondPairCorr
  0.92PFOAX Pimco Foreign BondPairCorr
  0.9PFOCX Pimco Foreign BondPairCorr
  0.82PFRCX Foreign BondPairCorr
  0.92PFRAX Pimco Foreign BondPairCorr
  0.95PFRMX Pimco Inflation ResponsePairCorr
  0.96PFPNX Pimco Capital SecPairCorr
  0.94PFTCX Short Term FundPairCorr
  1.0PFTPX Pimco Floating IncomePairCorr
  0.91PFRRX Pimco Foreign BondPairCorr
  0.99PFSIX Pimco Emerging MarketsPairCorr
  0.85PFUUX Pimco Foreign BondPairCorr
  0.84PFUAX Foreign BondPairCorr
  0.85PFUIX Foreign BondPairCorr
  0.85PFUNX Pimco International BondPairCorr
  0.85PFUPX Pimco Foreign BondPairCorr
  0.93PGAPX Pimco Global MultiPairCorr
  0.93PXTIX Fundamental IndexplusPairCorr
  0.93PXTNX Pimco Rae PlusPairCorr
  0.99PGBIX Global Bond FundPairCorr

Moving against Pimco Mutual Fund

  0.83PWLBX Pimco Rae WorldwidePairCorr
  0.57PWLEX Pimco Rae WorldwidePairCorr
  0.5PWLMX Pimco Rae WorldwidePairCorr
  0.49PWLIX 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 Floating 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 Floating'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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