Pimco Preferred Correlations

Mutual Funds . USA . 
Fund . Pimco Preferred And
PFNNX Fund  USD 9.36  0.01  0.11%   
The current 90-days correlation between Pimco Preferred And and Wmcanx is 0.22 (i.e., Modest diversification). The correlation of Pimco Preferred 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 Preferred Correlation With Market

Weak diversification

The correlation between Pimco Preferred And 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 Preferred And 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 Preferred And. 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
  0.99PFCJX Pimco Preferred AndPairCorr
  0.99PFANX Pimco Capital SecPairCorr
  0.97PFIAX Pimco Floating IncomePairCorr
  0.97PFIIX Pimco Floating IncomePairCorr
  0.95PFIUX Pimco Unconstrained BondPairCorr
  1.0PFINX Pimco Capital SecPairCorr
  0.97PFNCX Pimco Floating IncomePairCorr
  0.87PFONX Pimco International BondPairCorr
  0.87PFORX Pimco Foreign BondPairCorr
  0.97PFNIX Pimco Low DurationPairCorr
  0.95PFNUX Pimco Dynamic BondPairCorr
  0.87PFOAX Pimco Foreign BondPairCorr
  0.85PFOCX Pimco Foreign BondPairCorr
  0.74PFRCX Foreign BondPairCorr
  0.85PFRAX Pimco Foreign BondPairCorr
  0.95PFRMX Pimco Inflation ResponsePairCorr
  1.0PFPNX Pimco Capital SecPairCorr
  0.95PFTCX Short Term FundPairCorr
  0.97PFTPX Pimco Floating IncomePairCorr
  0.86PFRRX Pimco Foreign BondPairCorr
  0.98PFSIX Pimco Emerging MarketsPairCorr
  0.79PFUUX Pimco Foreign BondPairCorr
  0.76PFUAX Foreign BondPairCorr
  0.79PFUIX Foreign BondPairCorr
  0.79PFUNX Pimco International BondPairCorr
  0.79PFUPX Pimco Foreign BondPairCorr
  0.98PGAPX Pimco Global MultiPairCorr
  0.98PXTIX Fundamental IndexplusPairCorr
  0.97PXTNX Pimco Rae PlusPairCorr
  0.95PGBIX Global Bond FundPairCorr

Moving against Pimco Mutual Fund

  0.81PWLBX Pimco Rae WorldwidePairCorr
  0.58PWLEX Pimco Rae WorldwidePairCorr
  0.51PWLMX 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 Preferred 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 Preferred'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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