Pimco Income Correlations

Mutual Funds . USA . 
Fund . Pimco Income Fund
PONRX Fund  USD 10.69  0.02  0.19%   
The current 90-days correlation between Pimco Income and Transamerica Intermediate Muni is 0.62 (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

Modest diversification

The correlation between Pimco Income Fund and DJI is 0.26 (i.e., Modest 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 metropolitan statistical area.

Moving together with Pimco Mutual Fund

  0.96PFBPX Pimco Foreign BondPairCorr
  0.91PFCJX Pimco Preferred AndPairCorr
  0.91PFANX Pimco Capital SecPairCorr
  0.98PFIAX Pimco Floating IncomePairCorr
  0.98PFIIX Pimco Floating IncomePairCorr
  0.99PFIUX Pimco Unconstrained BondPairCorr
  0.91PFINX Pimco Capital SecPairCorr
  0.64PFMIX Municipal BondPairCorr
  0.98PFNCX Pimco Floating IncomePairCorr
  0.96PFONX Pimco International BondPairCorr
  0.96PFORX Pimco Foreign BondPairCorr
  0.92PFNNX Pimco Preferred AndPairCorr
  0.97PFNIX Pimco Low DurationPairCorr
  0.99PFNUX Pimco Dynamic BondPairCorr
  0.95PFOAX Pimco Foreign BondPairCorr
  0.95PFOCX Pimco Foreign BondPairCorr
  0.88PFRCX Foreign BondPairCorr
  0.95PFRAX Pimco Foreign BondPairCorr
  0.93PFRMX Pimco Inflation ResponsePairCorr
  0.91PFPNX Pimco Capital SecPairCorr
  0.87PFTCX Short Term FundPairCorr
  0.97PFTPX Pimco Floating IncomePairCorr
  0.95PFRRX Pimco Foreign BondPairCorr
  0.96PFSIX Pimco Emerging MarketsPairCorr
  0.9PFUUX Pimco Foreign BondPairCorr
  0.9PFUAX Foreign BondPairCorr
  0.9PFUIX Foreign BondPairCorr
  0.9PFUNX Pimco International BondPairCorr
  0.9PFUPX Pimco Foreign BondPairCorr
  0.86PGAPX Pimco Global MultiPairCorr
  0.86PXTIX Fundamental IndexplusPairCorr
  0.99PGBIX Global Bond FundPairCorr
  0.98PGCAX Investment Grade PoratePairCorr

Moving against Pimco Mutual Fund

  0.81PWLBX Pimco Rae WorldwidePairCorr
  0.51PWLEX Pimco Rae WorldwidePairCorr
  0.44PWLMX Pimco Rae WorldwidePairCorr
  0.42PWLIX 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 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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