Pimco Foreign Correlations

Mutual Funds . USA . 
Fund . Pimco Foreign Bond
PFORX Fund  USD 9.91  0.01  0.10%   
The current 90-days correlation between Pimco Foreign Bond and Prudential Qma Small Cap is 0.13 (i.e., Average 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.

Pimco Foreign Correlation With Market

Modest diversification

The correlation between Pimco Foreign Bond and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Foreign Bond 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 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 metropolitan statistical area.

Moving together with Pimco Mutual Fund

  0.9VTIBX Vanguard Total InterPairCorr
  0.91VTILX Vanguard Total InterPairCorr
  0.91VTIFX Vanguard Total InterPairCorr
  0.9VTABX Vanguard Total InterPairCorr
  0.79DFGBX Dfa Five YearPairCorr
  0.99PFOAX Pimco Foreign BondPairCorr
  0.99PFOCX Pimco Foreign BondPairCorr
  1.0PFONX Pimco International BondPairCorr
  0.72SMPIX Semiconductor UltrasectorPairCorr
  0.72SMPSX Semiconductor UltrasectorPairCorr
  0.69RSNRX Victory Global NaturalPairCorr
  0.69RSNYX Victory Global NaturalPairCorr
  0.69RGNCX Victory Global NaturalPairCorr
  0.78PSHAX Short Term FundPairCorr
  0.64FDEGX Fidelity Growth StraPairCorr
  0.67RIVKX American Funds InterPairCorr

Moving against Pimco Mutual Fund

  0.68HPQ HP IncPairCorr
  0.67MCD McDonaldsPairCorr
  0.46TRV The Travelers CompaniesPairCorr

Related Correlations Analysis

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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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