Pimco Corporate Correlations

PCN Fund

USD 12.78 0.02 0.16%

The current 90-days correlation between Pimco Corporate Income and Pimco High Income is 0.34 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Pimco Corporate moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pimco Corporate Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Pimco Corporate Correlation With Market

Almost no diversification

The correlation between Pimco Corporate Income and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Corporate Income 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 Corporate Income. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving together with Pimco Fund

0.91	NCZ	Allianzgi Convertible	Pair Corr
0.9	NYM	AB Active ETFs	Pair Corr
0.91	KF	Korea Closed	Pair Corr
0.91	FEIPX	Fa529 Eq In	Pair Corr
0.93	AMECX	Income Fund	Pair Corr
0.72	IOGPX	Vy Oppenheimer Global	Pair Corr
0.82	IHGIX	Hartford Dividend	Pair Corr
0.64	CVSCX	Calamos Market Neutral	Pair Corr
0.71	XEMOX	Clearbridge Energy Mlp Steady Growth	Pair Corr
0.93	RALAX	Growth Strategy	Pair Corr
0.94	FMFEX	Materials Portfolio	Pair Corr
0.91	VSTCX	Vanguard Strategic	Pair Corr
0.62	PFGGX	Pfg American Funds	Pair Corr
0.83	GOIAX	Goldman Sachs Growth	Pair Corr
0.91	ALAAX	Invesco Income Allocation	Pair Corr
0.95	TRRLX	T Rowe Price	Pair Corr
0.79	QCBMPX	Cref Core Bond	Pair Corr
0.62	NAPIX	Voya Multi Manager	Pair Corr
0.86	GARIX	Gotham Absolute Return	Pair Corr
0.68	PFRZX	Putnam Floating Rate	Pair Corr
0.89	RMCFX	Royce Micro Cap	Pair Corr
0.97	FTCCX	Franklin Conservative	Pair Corr
0.8	QCBMIX	Cref Bond Market	Pair Corr
0.93	TIHIX	Transamerica International	Pair Corr
0.75	VTSAX	Vanguard Total Stock	Pair Corr
0.91	IISTX	Voya Index Solution	Pair Corr
0.92	FHREX	Fidelity Freedom Blend	Pair Corr
0.94	DRILX	Dimensional 2060 Target	Pair Corr
0.65	ILABX	Voya Bond Index	Pair Corr
0.85	PAHUX	Prudential Investment	Pair Corr
0.94	GEMYX	Emerging Markets Equity	Pair Corr
0.78	CMMCX	Calvert Mortgage Access	Pair Corr

Moving against Pimco Fund

0.85

RCS

Pimco Strategic Income

Pair Corr

Related Correlations Analysis

	PHK	PAXS	HTD	NRK	CHI	EOI	AWF	CHY	NIE	AIO
PHK		0.73	0.48	0.71	0.91	0.79	0.43	0.89	0.87	0.79	PHK
PAXS	0.73		0.74	0.73	0.8	0.5	0.24	0.66	0.63	0.75	PAXS
HTD	0.48	0.74		0.75	0.67	0.22	0.31	0.48	0.33	0.48	HTD
NRK	0.71	0.73	0.75		0.84	0.63	0.23	0.69	0.67	0.75	NRK
CHI	0.91	0.8	0.67	0.84		0.77	0.49	0.94	0.86	0.87	CHI
EOI	0.79	0.5	0.22	0.63	0.77		0.4	0.82	0.92	0.84	EOI
AWF	0.43	0.24	0.31	0.23	0.49	0.4		0.64	0.5	0.45	AWF
CHY	0.89	0.66	0.48	0.69	0.94	0.82	0.64		0.91	0.87	CHY
NIE	0.87	0.63	0.33	0.67	0.86	0.92	0.5	0.91		0.93	NIE
AIO	0.79	0.75	0.48	0.75	0.87	0.84	0.45	0.87	0.93		AIO
	PHK	PAXS	HTD	NRK	CHI	EOI	AWF	CHY	NIE	AIO

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Risk-Adjusted Indicators

There is a big difference between Pimco Fund performing well and Pimco Corporate 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 Corporate'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PHK	0.26	0.08	0.09	1.24	0.09	(0.35)	0.62	(0.61)	2.08
PAXS	0.44	0.02	(0.03)	0.44	0.48	(0.51)	1.09	(0.79)	2.59
HTD	0.69	0.01	(0.02)	0.10	0.86	(0.71)	1.29	(1.44)	3.60
NRK	0.25	0.04	0.03	0.37	0.00	(0.37)	0.51	(0.40)	1.41
CHI	0.81	0.08	0.07	0.15	0.87	(0.89)	2.10	(1.52)	4.52
EOI	0.58	0.01	(0.01)	0.05	0.84	(0.54)	0.99	(1.38)	3.75
AWF	0.26	(0.02)	(0.11)	(0.04)	0.34	(0.30)	0.56	(0.57)	1.33
CHY	0.69	0.06	0.06	0.13	0.75	(0.77)	1.80	(1.58)	3.95
NIE	0.53	0.02	0.00	0.07	0.57	(0.60)	1.35	(1.06)	2.57
AIO	0.92	0.01	0.01	0.04	1.18	(0.90)	2.32	(2.02)	5.58

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