Pimco Floating Correlations

Mutual Funds . USA . 
Fund . Pimco Floating Income
PFTPX Fund  USD 8.17  0.01  0.12%   
The current 90-days correlation between Pimco Floating Income and Community Reinvestment Act is 0.66 (i.e., Poor 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

Very weak diversification

The correlation between Pimco Floating Income and DJI is 0.43 (i.e., Very 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 american community survey.

Moving together with Pimco Mutual Fund

  0.93PFBPX Pimco Foreign BondPairCorr
  0.96PFCJX Pimco Preferred AndPairCorr
  0.96PFANX Pimco Capital SecPairCorr
  0.99PFIAX Pimco Floating IncomePairCorr
  0.99PFIIX Pimco Floating IncomePairCorr
  0.98PFIUX Pimco Unconstrained BondPairCorr
  0.96PFINX Pimco Capital SecPairCorr
  0.99PFNCX Pimco Floating IncomePairCorr
  0.93PFONX Pimco International BondPairCorr
  0.9PFORX Pimco Foreign BondPairCorr
  0.96PFNNX Pimco Preferred AndPairCorr
  1.0PFNIX Pimco Low DurationPairCorr
  0.98PFNUX Pimco Dynamic BondPairCorr
  0.91PFOAX Pimco Foreign BondPairCorr
  0.88PFOCX Pimco Foreign BondPairCorr
  0.72PFRCX Foreign BondPairCorr
  0.91PFRAX Pimco Foreign BondPairCorr
  0.9PFRMX Pimco Inflation ResponsePairCorr
  0.96PFPNX Pimco Capital SecPairCorr
  0.88PFTCX Short Term FundPairCorr
  0.9PFRRX Pimco Foreign BondPairCorr
  0.95PFSIX Pimco Emerging MarketsPairCorr
  0.73PFUUX Pimco Foreign BondPairCorr
  0.72PFUAX Foreign BondPairCorr
  0.73PFUIX Foreign BondPairCorr
  0.73PFUNX Pimco International BondPairCorr
  0.73PFUPX Pimco Foreign BondPairCorr
  0.9PGAPX Pimco Global MultiPairCorr
  0.9PXTIX Fundamental IndexplusPairCorr
  0.91PXTNX Pimco Rae PlusPairCorr
  0.98PGBIX Global Bond FundPairCorr

Moving against Pimco Mutual Fund

  0.53PWLBX 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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