Pimco Floating Correlations

Mutual Funds . USA . 
Fund . Pimco Floating Income
PFTPX Fund  USD 8.31  0.01  0.12%   
The current 90-days correlation between Pimco Floating Income and Westcore Municipal Opportunities is 0.43 (i.e., Very weak 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 good diversification

The correlation between Pimco Floating Income and DJI is -0.23 (i.e., Very good 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 producer price index.

Moving together with Pimco Mutual Fund

  0.76PFBPX Pimco Foreign BondPairCorr
  0.77PFCJX Pimco Preferred AndPairCorr
  0.77PFANX Pimco Capital SecPairCorr
  0.87PFGAX Long Term GovernmentPairCorr
  0.86PFGCX Long Term GovernmentPairCorr
  0.81PFIAX Pimco Floating IncomePairCorr
  0.85PFIIX Pimco Floating IncomePairCorr
  0.85PFIUX Pimco Unconstrained BondPairCorr
  0.82PFINX Pimco Capital SecPairCorr
  0.93PFMIX Municipal BondPairCorr
  0.82PFNCX Pimco Floating IncomePairCorr
  0.77PFONX Pimco International BondPairCorr
  0.79PFORX Pimco Foreign BondPairCorr
  0.81PFNNX Pimco Preferred AndPairCorr
  1.0PFNIX Pimco Low DurationPairCorr
  0.79PFNUX Pimco Dynamic BondPairCorr
  0.79PFOAX Pimco Foreign BondPairCorr
  0.81PFOCX Pimco Foreign BondPairCorr
  0.95PFRAX Pimco Foreign BondPairCorr
  0.8PFRMX Pimco Inflation ResponsePairCorr
  0.76PFPNX Pimco Capital SecPairCorr
  0.79PFTCX Short Term FundPairCorr
  0.78PFRRX Pimco Foreign BondPairCorr
  0.74PFSIX Pimco Emerging MarketsPairCorr
  0.95PGAPX Pimco Global MultiPairCorr
  0.76PXTIX Fundamental IndexplusPairCorr
  0.92PXTNX Pimco Rae PlusPairCorr
  0.79PGBIX Global Bond FundPairCorr
  0.95PGAIX Pimco Global MultiPairCorr

Moving against Pimco Mutual Fund

  0.73PWLIX Pimco Rae WorldwidePairCorr
  0.72PWLEX Pimco Rae WorldwidePairCorr
  0.72PWLMX Pimco Rae WorldwidePairCorr
  0.67PWLBX Pimco Rae WorldwidePairCorr

Related Correlations Analysis


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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