Gnma Fund Correlations

PDMIX Fund

USD 9.34 0.02 0.21%

The current 90-days correlation between Gnma Fund Institutional and Target Retirement 2040 is 0.1 (i.e., Average diversification). The correlation of Gnma Fund 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.

Gnma Fund Correlation With Market

Good diversification

The correlation between Gnma Fund Institutional and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gnma Fund Institutional 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 Gnma Fund Institutional. 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 GNMA Mutual Fund

0.75	PFATX	Pimco Fundamental	Pair Corr
0.99	PFGAX	Long Term Government	Pair Corr
0.99	PFGCX	Long Term Government	Pair Corr
0.63	PFMIX	Municipal Bond	Pair Corr
0.89	PFRCX	Foreign Bond	Pair Corr
0.78	PFSIX	Pimco Emerging Markets	Pair Corr
0.88	PFUUX	Pimco Foreign Bond	Pair Corr
0.85	PFUAX	Foreign Bond	Pair Corr
0.86	PFUIX	Foreign Bond	Pair Corr
0.86	PFUNX	Pimco International Bond	Pair Corr
0.86	PFUPX	Pimco Foreign Bond	Pair Corr
0.74	PGBIX	Global Bond Fund	Pair Corr

Moving against GNMA Mutual Fund

0.48	PFIUX	Pimco Unconstrained Bond	Pair Corr
0.44	PFINX	Pimco Capital Sec	Pair Corr
0.41	PFANX	Pimco Capital Sec	Pair Corr
0.82	PFTCX	Short Term Fund	Pair Corr
0.45	PFNUX	Pimco Dynamic Bond	Pair Corr
0.43	PFNNX	Pimco Preferred And	Pair Corr
0.38	PFPNX	Pimco Capital Sec	Pair Corr
0.45	PXTIX	Fundamental Indexplus	Pair Corr
0.45	PXTNX	Pimco Rae Plus	Pair Corr
0.36	PGAIX	Pimco Global Multi	Pair Corr
0.35	PGAPX	Pimco Global Multi	Pair Corr
0.34	PGMAX	Pimco Global Multi	Pair Corr

Related Correlations Analysis

	URFRX	CMACX	SCGCX	TCTZX	EXBAX
URFRX		0.94	0.87	0.72	0.17	URFRX
CMACX	0.94		0.76	0.82	0.43	CMACX
SCGCX	0.87	0.76		0.71	0.01	SCGCX
TCTZX	0.72	0.82	0.71		0.66	TCTZX
EXBAX	0.17	0.43	0.01	0.66		EXBAX
	URFRX	CMACX	SCGCX	TCTZX	EXBAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between GNMA Mutual Fund performing well and Gnma Fund 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 Gnma Fund'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
URFRX	0.43	0.02	(0.16)	1.18	0.51	(0.48)	0.95	(0.80)	2.44
CMACX	0.35	0.01	(0.22)	0.51	0.43	(0.36)	0.72	(0.71)	2.02
SCGCX	0.42	(0.02)	(0.11)	0.09	0.48	(0.46)	0.87	(0.71)	2.67
TCTZX	0.25	(0.02)	(0.29)	0.04	0.28	(0.27)	0.60	(0.60)	1.33
EXBAX	0.25	(0.03)	(0.35)	(0.01)	0.31	(0.26)	0.47	(0.60)	1.49

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC