Pimco Income Correlations

Mutual Funds . USA . 
Fund . Pimco Income Fund
PONAX Fund  USD 10.67  0.01  0.09%   
The current 90-days correlation between Pimco Income and Bbh Intermediate Municipal is 0.75 (i.e., Poor diversification). The correlation of Pimco Income 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 Income Correlation With Market

Good diversification

The correlation between Pimco Income Fund and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Income 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 Pimco Income 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 Pimco Mutual Fund

  0.97PFBPX Pimco Foreign BondPairCorr
  0.92PFCJX Pimco Preferred AndPairCorr
  0.92PFANX Pimco Capital SecPairCorr
  0.98PFIAX Pimco Floating IncomePairCorr
  0.96PFIIX Pimco Floating IncomePairCorr
  0.97PFIUX Pimco Unconstrained BondPairCorr
  0.92PFINX Pimco Capital SecPairCorr
  0.67PFMIX Municipal BondPairCorr
  0.96PFNCX Pimco Floating IncomePairCorr
  0.94PFONX Pimco International BondPairCorr
  0.94PFORX Pimco Foreign BondPairCorr
  0.93PFNNX Pimco Preferred AndPairCorr
  0.98PFNIX Pimco Low DurationPairCorr
  0.97PFNUX Pimco Dynamic BondPairCorr
  0.96PFOAX Pimco Foreign BondPairCorr
  0.95PFOCX Pimco Foreign BondPairCorr
  0.84PFRCX Foreign BondPairCorr
  0.93PFRAX Pimco Foreign BondPairCorr
  0.94PFRMX Pimco Inflation ResponsePairCorr
  0.92PFPNX Pimco Capital SecPairCorr
  0.88PFTCX Short Term FundPairCorr
  0.98PFTPX Pimco Floating IncomePairCorr
  0.95PFRRX Pimco Foreign BondPairCorr
  0.96PFSIX Pimco Emerging MarketsPairCorr
  0.91PFUUX Pimco Foreign BondPairCorr
  0.86PFUAX Foreign BondPairCorr
  0.91PFUIX Foreign BondPairCorr
  0.91PFUNX Pimco International BondPairCorr
  0.91PFUPX Pimco Foreign BondPairCorr
  0.87PGAPX Pimco Global MultiPairCorr
  0.88PXTIX Fundamental IndexplusPairCorr
  0.97PGBIX Global Bond FundPairCorr
  0.94PGCAX Investment Grade PoratePairCorr

Moving against Pimco Mutual Fund

  0.77PWLBX Pimco Rae WorldwidePairCorr
  0.43PWLEX Pimco Rae WorldwidePairCorr
  0.36PWLMX Pimco Rae WorldwidePairCorr
  0.34PWLIX 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 Income 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 Income'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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