PIMCO Managed Correlations

PCOR Etf

CAD 18.52 0.08 0.43%

The current 90-days correlation between PIMCO Managed Core and BMO NASDAQ 100 is -0.16 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PIMCO Managed moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PIMCO Managed Core moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

PIMCO Managed Correlation With Market

Poor diversification

The correlation between PIMCO Managed Core and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PIMCO Managed Core and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to PIMCO Managed could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PIMCO Managed when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back PIMCO Managed - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling PIMCO Managed Core to buy it.

Moving together with PIMCO Etf

0.72	CPLS	CIBC Core Plus	Pair Corr
0.77	XSC	iShares Conservative	Pair Corr
0.66	HGU	BetaPro Canadian Gold	Pair Corr
0.69	HGGG	Harvest Global Gold	Pair Corr
0.7	GLDX	Global X Gold	Pair Corr
0.68	ZGD	BMO Equal Weight	Pair Corr
0.69	ZJG	BMO Junior Gold	Pair Corr
0.65	HBU	BetaPro Gold Bullion	Pair Corr
0.7	XGD	iShares SPTSX Global	Pair Corr
0.62	ZUD	BMO Dividend Hedged	Pair Corr
0.72	XEN	iShares Jantzi Social	Pair Corr
0.68	MINT-B	Manulife Multifactor	Pair Corr
0.74	WSHR	Wealthsimple Shariah	Pair Corr
0.82	ZCON	BMO Conservative ETF	Pair Corr
0.75	DGRC	CI Canada Quality	Pair Corr
0.65	DXAU	Dynamic Active Global	Pair Corr
0.76	XSB	iShares Canadian Short	Pair Corr
0.68	DXBG	Dynamic Global Fixed	Pair Corr
0.71	ZMID	BMO SP Mid	Pair Corr
0.71	XEU	iShares MSCI Europe	Pair Corr
0.71	ATSX	Accelerate Canadian Long	Pair Corr
0.78	PDIV	Purpose Enhanced Dividend	Pair Corr
0.72	BMAX	Brompton Enhanced Multi	Pair Corr
0.77	XSH	iShares Core Canadian	Pair Corr
0.72	XSTB	iShares ESG Aware	Pair Corr

Related Correlations Analysis

	ISIF	HXCN	ZWC	ZEM	FCUV	HMAX	HSAV	XGB	XSH	ZNQ
ISIF		0.85	0.92	0.84	0.48	0.78	0.81	0.18	0.84	-0.33	ISIF
HXCN	0.85		0.93	0.79	0.63	0.92	0.87	-0.11	0.74	-0.12	HXCN
ZWC	0.92	0.93		0.89	0.47	0.85	0.86	0.09	0.88	-0.37	ZWC
ZEM	0.84	0.79	0.89		0.29	0.63	0.66	0.3	0.89	-0.25	ZEM
FCUV	0.48	0.63	0.47	0.29		0.69	0.48	-0.16	0.27	0.25	FCUV
HMAX	0.78	0.92	0.85	0.63	0.69		0.9	-0.32	0.6	-0.18	HMAX
HSAV	0.81	0.87	0.86	0.66	0.48	0.9		-0.18	0.71	-0.33	HSAV
XGB	0.18	-0.11	0.09	0.3	-0.16	-0.32	-0.18		0.45	-0.05	XGB
XSH	0.84	0.74	0.88	0.89	0.27	0.6	0.71	0.45		-0.4	XSH
ZNQ	-0.33	-0.12	-0.37	-0.25	0.25	-0.18	-0.33	-0.05	-0.4		ZNQ
	ISIF	HXCN	ZWC	ZEM	FCUV	HMAX	HSAV	XGB	XSH	ZNQ

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ZWC	+ 0.93	HXCN
ZWC	+ 0.92	ISIF
HMAX	+ 0.92	HXCN
HSAV	+ 0.9	HMAX
ZEM	+ 0.89	ZWC
XSH	+ 0.89	ZEM

High negative correlations

ZNQ	- 0.4	XSH
ZNQ	- 0.37	ZWC
ZNQ	- 0.33	HSAV
ZNQ	- 0.33	ISIF
XGB	- 0.32	HMAX
ZNQ	- 0.25	ZEM

PIMCO Managed Constituents Risk-Adjusted Indicators

There is a big difference between PIMCO Etf performing well and PIMCO Managed ETF 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 Managed'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
ISIF	0.27	0.02	(0.08)	0.19	0.26	(0.29)	0.68	(0.54)	1.47
HXCN	0.66	0.10	0.05	0.26	1.01	(0.62)	1.37	(1.66)	4.59
ZWC	0.41	0.11	0.11	0.57	0.36	(0.45)	0.91	(0.95)	2.39
ZEM	0.68	0.09	0.06	0.34	0.66	(0.73)	1.39	(1.16)	4.77
FCUV	0.78	0.00	(0.02)	0.05	1.12	(0.76)	1.44	(1.35)	5.98
HMAX	0.44	0.08	0.06	0.31	0.42	(0.47)	0.93	(0.85)	2.49
HSAV	0.06	0.00	(0.65)	0.09	0.00	(0.07)	0.15	(0.13)	0.44
XGB	0.17	(0.01)	(0.21)	(0.06)	0.27	(0.16)	0.31	(0.31)	1.24
XSH	0.07	0.00	(0.38)	0.19	0.00	(0.09)	0.16	(0.21)	0.63
ZNQ	0.73	(0.14)	0.00	(0.18)	0.00	0.00	1.43	(1.96)	5.48

Be your own money manager

Our tools can tell you how much better you can do entering a position in PIMCO Managed without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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