Foreign Bond Correlations

Mutual Funds . USA . 
Fund . Foreign Bond Fund
PFUAX Fund  USD 7.83  0.02  0.25%   
The current 90-days correlation between Foreign Bond and Pimco Unconstrained Bond is 0.44 (i.e., Very weak diversification). The correlation of Foreign Bond 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.

Foreign Bond Correlation With Market

Good diversification

The correlation between Foreign Bond Fund and DJI is -0.19 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Foreign Bond Fund 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 Foreign Bond Fund. 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 nation.

Moving together with Foreign Mutual Fund

  0.85PFBPX Pimco Foreign BondPairCorr
  0.74PFCJX Pimco Preferred AndPairCorr
  0.74PFANX Pimco Capital SecPairCorr
  0.82PFIAX Pimco Floating IncomePairCorr
  0.84PFIIX Pimco Floating IncomePairCorr
  0.86PFIUX Pimco Unconstrained BondPairCorr
  0.75PFINX Pimco Capital SecPairCorr
  0.84PFNCX Pimco Floating IncomePairCorr
  0.9PFONX Pimco International BondPairCorr
  0.9PFORX Pimco Foreign BondPairCorr
  0.76PFNNX Pimco Preferred AndPairCorr
  0.8PFNIX Pimco Low DurationPairCorr
  0.86PFNUX Pimco Dynamic BondPairCorr
  0.86PFOAX Pimco Foreign BondPairCorr
  0.85PFOCX Pimco Foreign BondPairCorr
  1.0PFRCX Foreign BondPairCorr
  0.91PFRAX Pimco Foreign BondPairCorr
  0.76PFRMX Pimco Inflation ResponsePairCorr
  0.75PFPNX Pimco Capital SecPairCorr
  0.71PFTCX Short Term FundPairCorr
  0.8PFTPX Pimco Floating IncomePairCorr
  0.85PFRRX Pimco Foreign BondPairCorr
  0.81PFSIX Pimco Emerging MarketsPairCorr
  0.94PFUUX Pimco Foreign BondPairCorr
  0.94PFUIX Foreign BondPairCorr
  0.94PFUNX Pimco International BondPairCorr
  0.94PFUPX Pimco Foreign BondPairCorr
  0.7PGAPX Pimco Global MultiPairCorr
  0.68PXTIX Fundamental IndexplusPairCorr
  0.67PXTNX Pimco Rae PlusPairCorr
  0.88PGBIX Global Bond FundPairCorr

Moving against Foreign Mutual Fund

  0.7PWLBX Pimco Rae WorldwidePairCorr
  0.4PWLEX Pimco Rae WorldwidePairCorr
  0.33PWLMX Pimco Rae WorldwidePairCorr
  0.32PWLIX Pimco Rae WorldwidePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Foreign Mutual Fund performing well and Foreign Bond 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 Foreign Bond'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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