Fixed Income Correlations

Mutual Funds . USA . 
Fund . Fixed Income Shares
FXIEX Fund  USD 9.83  0.01  0.10%   
The current 90-days correlation between Fixed Income Shares and T Rowe Price is -0.16 (i.e., Good 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

Poor diversification

The correlation between Fixed Income Shares and DJI is 0.71 (i.e., Poor 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

  0.68PWLEX Pimco Rae WorldwidePairCorr
  0.69PWLMX Pimco Rae WorldwidePairCorr
  0.68PWLIX Pimco Rae WorldwidePairCorr
  0.84PFBPX Pimco Foreign BondPairCorr
  0.85PFCJX Pimco Preferred AndPairCorr
  0.71PFATX Pimco FundamentalPairCorr
  0.84PFANX Pimco Capital SecPairCorr
  0.83PFIAX Pimco Floating IncomePairCorr
  0.85PFIIX Pimco Floating IncomePairCorr
  0.89PFIUX Pimco Unconstrained BondPairCorr
  0.85PFINX Pimco Capital SecPairCorr
  1.0PFMIX Municipal BondPairCorr
  0.84PFNCX Pimco Floating IncomePairCorr
  0.84PFONX Pimco International BondPairCorr
  0.85PFORX Pimco Foreign BondPairCorr
  0.85PFNNX Pimco Preferred AndPairCorr
  0.81PFNIX Pimco Low DurationPairCorr
  0.89PFNUX Pimco Dynamic BondPairCorr
  0.75PFOAX Pimco Foreign BondPairCorr
  0.65PFOCX Pimco Foreign BondPairCorr
  0.63PFRCX Foreign BondPairCorr
  0.83PFRAX Pimco Foreign BondPairCorr
  0.8PFRMX Pimco Inflation ResponsePairCorr
  0.85PFPNX Pimco Capital SecPairCorr
  0.83PFTCX Short Term FundPairCorr
  0.81PFTPX Pimco Floating IncomePairCorr
  0.81PFRRX Pimco Foreign BondPairCorr
  0.81PFSIX Pimco Emerging MarketsPairCorr
  0.67PFUUX Pimco Foreign BondPairCorr
  0.67PFUAX Foreign BondPairCorr
  0.67PFUIX Foreign BondPairCorr
  0.67PFUNX Pimco International BondPairCorr
  0.67PFUPX Pimco Foreign BondPairCorr
  0.83PGAPX Pimco Global MultiPairCorr
  0.68PXTIX Fundamental IndexplusPairCorr
  0.68PXTNX Pimco Rae PlusPairCorr
  0.87PGBIX Global Bond FundPairCorr

Moving against Fixed Mutual Fund

  0.39PGOVX 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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