Low Duration Correlations

Mutual Funds . USA . 
Fund . Low Duration Fund
PTLDX Fund  USD 9.30  0.01  0.11%   
The current 90-days correlation between Low Duration and Real Return Fund is 0.81 (i.e., Very poor diversification). The correlation of Low Duration 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.

Low Duration Correlation With Market

Significant diversification

The correlation between Low Duration Fund and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Low Duration 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 Low Duration 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 unemployment.

Moving together with Low Mutual Fund

  0.94PFBPX Pimco Foreign BondPairCorr
  0.87PFCJX Pimco Preferred AndPairCorr
  0.87PFANX Pimco Capital SecPairCorr
  0.93PFIAX Pimco Floating IncomePairCorr
  0.93PFIIX Pimco Floating IncomePairCorr
  0.94PFIUX Pimco Unconstrained BondPairCorr
  0.87PFINX Pimco Capital SecPairCorr
  0.95PFNCX Pimco Floating IncomePairCorr
  0.94PFONX Pimco International BondPairCorr
  0.91PFORX Pimco Foreign BondPairCorr
  0.88PFNNX Pimco Preferred AndPairCorr
  0.93PFNIX Pimco Low DurationPairCorr
  0.97PFNUX Pimco Dynamic BondPairCorr
  0.92PFOAX Pimco Foreign BondPairCorr
  0.89PFOCX Pimco Foreign BondPairCorr
  0.8PFRCX Foreign BondPairCorr
  0.88PFRAX Pimco Foreign BondPairCorr
  0.89PFRMX Pimco Inflation ResponsePairCorr
  0.87PFPNX Pimco Capital SecPairCorr
  0.85PFTCX Short Term FundPairCorr
  0.96PFTPX Pimco Floating IncomePairCorr
  0.88PFRRX Pimco Foreign BondPairCorr
  0.94PFSIX Pimco Emerging MarketsPairCorr
  0.82PFUUX Pimco Foreign BondPairCorr
  0.87PFUAX Foreign BondPairCorr
  0.82PFUIX Foreign BondPairCorr
  0.87PFUNX Pimco International BondPairCorr
  0.82PFUPX Pimco Foreign BondPairCorr
  0.82PGAPX Pimco Global MultiPairCorr
  0.84PXTIX Fundamental IndexplusPairCorr
  0.84PXTNX Pimco Rae PlusPairCorr
  0.94PGBIX Global Bond FundPairCorr

Moving against Low Mutual Fund

  0.77PWLBX Pimco Rae WorldwidePairCorr
  0.45PWLEX Pimco Rae WorldwidePairCorr
  0.38PWLMX Pimco Rae WorldwidePairCorr
  0.36PWLIX Pimco Rae WorldwidePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Low Mutual Fund performing well and Low Duration 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 Low Duration'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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