Fixed Income Correlations

Mutual Funds . USA . 
Fund . Fixed Income Shares
FXICX Fund  USD 9.29  0.01  0.11%   
The current 90-days correlation between Fixed Income Shares and Wasatch Small Cap is 0.17 (i.e., Average diversification). The correlation of Fixed 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.

Fixed Income Correlation With Market

Almost no diversification

The correlation between Fixed Income Shares and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fixed Income Shares and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Fixed Income Shares. 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 services.

Moving together with Fixed Mutual Fund

  0.75PWLEX Pimco Rae WorldwidePairCorr
  0.77PWLMX Pimco Rae WorldwidePairCorr
  0.77PWLIX Pimco Rae WorldwidePairCorr
  0.75PFBPX Pimco Foreign BondPairCorr
  0.94PFCJX Pimco Preferred AndPairCorr
  0.9PFATX Pimco FundamentalPairCorr
  0.95PFANX Pimco Capital SecPairCorr
  0.97PFIAX Pimco Floating IncomePairCorr
  0.99PFIIX Pimco Floating IncomePairCorr
  0.97PFIUX Pimco Unconstrained BondPairCorr
  0.96PFINX Pimco Capital SecPairCorr
  0.86PFMIX Municipal BondPairCorr
  0.99PFNCX Pimco Floating IncomePairCorr
  0.75PFONX Pimco International BondPairCorr
  0.76PFORX Pimco Foreign BondPairCorr
  0.96PFNNX Pimco Preferred AndPairCorr
  0.99PFNIX Pimco Low DurationPairCorr
  0.97PFNUX Pimco Dynamic BondPairCorr
  0.61PFOAX Pimco Foreign BondPairCorr
  0.79PFRCX Foreign BondPairCorr
  0.71PFRAX Pimco Foreign BondPairCorr
  0.92PFRMX Pimco Inflation ResponsePairCorr
  0.96PFPNX Pimco Capital SecPairCorr
  0.96PFTCX Short Term FundPairCorr
  0.99PFTPX Pimco Floating IncomePairCorr
  0.7PFRRX Pimco Foreign BondPairCorr
  0.96PFSIX Pimco Emerging MarketsPairCorr
  0.85PFUUX Pimco Foreign BondPairCorr
  0.83PFUAX Foreign BondPairCorr
  0.85PFUIX Foreign BondPairCorr
  0.85PFUNX Pimco International BondPairCorr
  0.85PFUPX Pimco Foreign BondPairCorr
  0.96PGAPX Pimco Global MultiPairCorr
  0.92PXTIX Fundamental IndexplusPairCorr
  0.93PXTNX Pimco Rae PlusPairCorr
  0.97PGBIX Global Bond FundPairCorr

Moving against Fixed Mutual Fund

  0.4PFGCX Long Term GovernmentPairCorr
  0.36PFGAX Long Term GovernmentPairCorr
  0.61PGOVX Long Term GovernmentPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Fixed Mutual Fund performing well and Fixed 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 Fixed 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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