Pimco Long-term Correlations

Mutual Funds . USA . 
Fund . Pimco Long Term Credit
PLRIX Fund  USD 7.01  0.05  0.72%   
The current 90-days correlation between Pimco Long Term and Jennison Natural Resources is 0.08 (i.e., Significant diversification). The correlation of Pimco Long-term 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 Long-term Correlation With Market

Weak diversification

The correlation between Pimco Long Term Credit 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 Pimco Long Term Credit 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 Long Term Credit. 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 Pimco Mutual Fund

  0.75PFBPX Pimco Foreign BondPairCorr
  0.72PFGAX Long Term GovernmentPairCorr
  0.85PFGCX Long Term GovernmentPairCorr
  0.65PFIAX Pimco Floating IncomePairCorr
  0.7PFIIX Pimco Floating IncomePairCorr
  0.74PFIUX Pimco Unconstrained BondPairCorr
  0.63PFMIX Municipal BondPairCorr
  0.65PFNCX Pimco Floating IncomePairCorr
  0.75PFONX Pimco International BondPairCorr
  0.81PFORX Pimco Foreign BondPairCorr
  0.69PFNIX Pimco Low DurationPairCorr
  0.69PFNUX Pimco Dynamic BondPairCorr
  0.76PFOAX Pimco Foreign BondPairCorr
  0.78PFOCX Pimco Foreign BondPairCorr
  0.77PFRCX Foreign BondPairCorr
  0.81PFRAX Pimco Foreign BondPairCorr
  0.64PFRMX Pimco Inflation ResponsePairCorr
  0.69PFTPX Pimco Floating IncomePairCorr
  0.82PFRRX Pimco Foreign BondPairCorr
  0.61PFSIX Pimco Emerging MarketsPairCorr
  0.77PFUUX Pimco Foreign BondPairCorr
  0.75PFUAX Foreign BondPairCorr
  0.77PFUIX Foreign BondPairCorr
  0.77PFUNX Pimco International BondPairCorr
  0.77PFUPX Pimco Foreign BondPairCorr
  0.76PGBIX Global Bond FundPairCorr

Moving against Pimco Mutual Fund

  0.57PWLBX Pimco Rae WorldwidePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Pimco Mutual Fund performing well and Pimco Long-term 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 Long-term'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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