Global Bond Correlations

Mutual Funds USA . 
Fund . Global Bond Fund
PGBIX Fund  USD 9.70  0.02  0.21%   
The current 90-days correlation between Global Bond Fund and Morningstar Defensive Bond is 0.15 (i.e., Average diversification). The correlation of Global 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.

Global Bond Correlation With Market

Weak diversification

The correlation between Global Bond Fund and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global 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 Global 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 gross domestic product.

Moving together with GLOBAL Mutual Fund

  0.93PFBPX Pimco Foreign BondPairCorr
  0.93PFCJX Pimco Preferred AndPairCorr
  0.93PFANX Pimco Capital SecPairCorr
  0.97PFIAX Pimco Floating IncomePairCorr
  0.99PFIIX Pimco Floating IncomePairCorr
  0.99PFIUX Pimco Unconstrained BondPairCorr
  0.94PFINX Pimco Capital SecPairCorr
  0.61PFMIX Municipal BondPairCorr
  0.99PFNCX Pimco Floating IncomePairCorr
  0.95PFONX Pimco International BondPairCorr
  0.95PFORX Pimco Foreign BondPairCorr
  0.95PFNNX Pimco Preferred AndPairCorr
  0.96PFNIX Pimco Low DurationPairCorr
  0.99PFNUX Pimco Dynamic BondPairCorr
  0.92PFOAX Pimco Foreign BondPairCorr
  0.91PFOCX Pimco Foreign BondPairCorr
  0.86PFRCX Foreign BondPairCorr
  0.94PFRAX Pimco Foreign BondPairCorr
  0.92PFRMX Pimco Inflation ResponsePairCorr
  0.94PFPNX Pimco Capital SecPairCorr
  0.88PFTCX Short Term FundPairCorr
  0.96PFTPX Pimco Floating IncomePairCorr
  0.91PFRRX Pimco Foreign BondPairCorr
  0.96PFSIX Pimco Emerging MarketsPairCorr
  0.89PFUUX Pimco Foreign BondPairCorr
  0.88PFUAX Foreign BondPairCorr
  0.89PFUIX Foreign BondPairCorr
  0.89PFUNX Pimco International BondPairCorr
  0.89PFUPX Pimco Foreign BondPairCorr
  0.9PGAPX Pimco Global MultiPairCorr
  0.9PXTIX Fundamental IndexplusPairCorr
  0.89PXTNX Pimco Rae PlusPairCorr

Moving against GLOBAL Mutual Fund

  0.81PWLBX Pimco Rae WorldwidePairCorr
  0.52PWLEX Pimco Rae WorldwidePairCorr
  0.45PWLMX Pimco Rae WorldwidePairCorr
  0.43PWLIX Pimco Rae WorldwidePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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