Pimco Rae Correlations

Mutual Funds . USA . 
Fund . Pimco Rae Worldwide
PWLIX Fund  USD 7.52  0.03  0.40%   
The current 90-days correlation between Pimco Rae Worldwide and Extended Market Index is -0.28 (i.e., Very good diversification). The correlation of Pimco Rae 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 Rae Correlation With Market

Average diversification

The correlation between Pimco Rae Worldwide and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Rae Worldwide 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 Rae Worldwide. 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

  0.76PWLEX Pimco Rae WorldwidePairCorr
  0.66PWLBX Pimco Rae WorldwidePairCorr
  0.75PWLMX Pimco Rae WorldwidePairCorr

Moving against Pimco Mutual Fund

  0.58PFANX Pimco Capital SecPairCorr
  0.56PFIIX Pimco Floating IncomePairCorr
  0.56PFINX Pimco Capital SecPairCorr
  0.52PFIAX Pimco Floating IncomePairCorr
  0.52PFNCX Pimco Floating IncomePairCorr
  0.41PFCJX Pimco Preferred AndPairCorr
  0.4PFIUX Pimco Unconstrained BondPairCorr
  0.33PFONX Pimco International BondPairCorr
  0.31PFBPX Pimco Foreign BondPairCorr
  0.59PFTCX Short Term FundPairCorr
  0.58PFNNX Pimco Preferred AndPairCorr
  0.56PFPNX Pimco Capital SecPairCorr
  0.46PFNIX Pimco Low DurationPairCorr
  0.45PFRAX Pimco Foreign BondPairCorr
  0.45PFSIX Pimco Emerging MarketsPairCorr
  0.43PFTPX Pimco Floating IncomePairCorr
  0.41PFNUX Pimco Dynamic BondPairCorr
  0.39PFUAX Foreign BondPairCorr
  0.38PFUIX Foreign BondPairCorr
  0.37PFOAX Pimco Foreign BondPairCorr
  0.35PFRRX Pimco Foreign BondPairCorr
  0.32PFOCX Pimco Foreign BondPairCorr
  0.6PGAIX Pimco Global MultiPairCorr
  0.59PGAPX Pimco Global MultiPairCorr
  0.59PGMCX Pimco Global MultiPairCorr
  0.52PXTIX Fundamental IndexplusPairCorr
  0.41PGNPX Pimco Global BondPairCorr
  0.4PXTNX Pimco Rae PlusPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Pimco Mutual Fund performing well and Pimco Rae 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 Rae'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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