Pimco Global Correlations

Mutual Funds . USA . 
Fund . Pimco Global Multi Asset
PGMCX Fund  USD 15.04  0.01  0.07%   
The current 90-days correlation between Pimco Global Multi and Pax High Yield is -0.01 (i.e., Good 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

Very poor diversification

The correlation between Pimco Global Multi Asset and DJI is 0.85 (i.e., Very poor 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 main economic indicators.

Moving together with Pimco Mutual Fund

  0.83PFBPX Pimco Foreign BondPairCorr
  0.98PFCJX Pimco Preferred AndPairCorr
  0.98PFANX Pimco Capital SecPairCorr
  0.93PFIAX Pimco Floating IncomePairCorr
  0.93PFIIX Pimco Floating IncomePairCorr
  0.91PFIUX Pimco Unconstrained BondPairCorr
  0.98PFINX Pimco Capital SecPairCorr
  0.93PFNCX Pimco Floating IncomePairCorr
  0.82PFONX Pimco International BondPairCorr
  0.82PFORX Pimco Foreign BondPairCorr
  0.98PFNNX Pimco Preferred AndPairCorr
  0.93PFNIX Pimco Low DurationPairCorr
  0.9PFNUX Pimco Dynamic BondPairCorr
  0.81PFOAX Pimco Foreign BondPairCorr
  0.79PFOCX Pimco Foreign BondPairCorr
  0.67PFRCX Foreign BondPairCorr
  0.8PFRAX Pimco Foreign BondPairCorr
  0.9PFRMX Pimco Inflation ResponsePairCorr
  0.98PFPNX Pimco Capital SecPairCorr
  0.95PFTCX Short Term FundPairCorr
  0.93PFTPX Pimco Floating IncomePairCorr
  0.8PFRRX Pimco Foreign BondPairCorr
  0.95PFSIX Pimco Emerging MarketsPairCorr
  0.72PFUUX Pimco Foreign BondPairCorr
  0.69PFUAX Foreign BondPairCorr
  0.72PFUIX Foreign BondPairCorr
  0.72PFUNX Pimco International BondPairCorr
  0.72PFUPX Pimco Foreign BondPairCorr
  1.0PGAPX Pimco Global MultiPairCorr
  0.98PXTIX Fundamental IndexplusPairCorr
  0.97PXTNX Pimco Rae PlusPairCorr
  0.89PGBIX Global Bond FundPairCorr

Moving against Pimco Mutual Fund

  0.75PWLBX Pimco Rae WorldwidePairCorr
  0.61PWLEX Pimco Rae WorldwidePairCorr
  0.55PWLMX Pimco Rae WorldwidePairCorr
  0.53PWLIX Pimco Rae WorldwidePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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