Pimco Global Correlations

Mutual Funds . USA . 
Fund . Pimco Global Multi Asset
PGAPX Fund  USD 17.20  0.11  0.64%   
The current 90-days correlation between Pimco Global Multi and Hennessy Nerstone Mid is 0.18 (i.e., Average diversification). The correlation of Pimco Global 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 Global Correlation With Market

Significant diversification

The correlation between Pimco Global Multi Asset and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Global Multi Asset 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 Global Multi Asset. 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

  0.78PFBPX Pimco Foreign BondPairCorr
  0.74PFCJX Pimco Preferred AndPairCorr
  0.74PFANX Pimco Capital SecPairCorr
  0.66PFGAX Long Term GovernmentPairCorr
  0.83PFGCX Long Term GovernmentPairCorr
  0.7PFIAX Pimco Floating IncomePairCorr
  0.69PFIIX Pimco Floating IncomePairCorr
  0.71PFIUX Pimco Unconstrained BondPairCorr
  0.74PFINX Pimco Capital SecPairCorr
  0.92PFMIX Municipal BondPairCorr
  0.68PFNCX Pimco Floating IncomePairCorr
  0.78PFONX Pimco International BondPairCorr
  0.77PFORX Pimco Foreign BondPairCorr
  0.74PFNNX Pimco Preferred AndPairCorr
  0.7PFNIX Pimco Low DurationPairCorr
  0.68PFNUX Pimco Dynamic BondPairCorr
  0.76PFOAX Pimco Foreign BondPairCorr
  0.77PFOCX Pimco Foreign BondPairCorr
  0.93PFRAX Pimco Foreign BondPairCorr
  0.64PFRMX Pimco Inflation ResponsePairCorr
  0.74PFPNX Pimco Capital SecPairCorr
  0.95PFTPX Pimco Floating IncomePairCorr
  0.77PFRRX Pimco Foreign BondPairCorr
  0.67PFSIX Pimco Emerging MarketsPairCorr
  0.7PGBIX Global Bond FundPairCorr

Moving against Pimco Mutual Fund

  0.71PWLEX Pimco Rae WorldwidePairCorr
  0.71PWLMX Pimco Rae WorldwidePairCorr
  0.7PWLBX Pimco Rae WorldwidePairCorr
  0.69PWLIX Pimco Rae WorldwidePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Pimco Mutual Fund performing well and Pimco Global 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 Global'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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