Pimco Floating Correlations

PFNCX Fund

USD 8.33 0.01 0.12%

The current 90-days correlation between Pimco Floating Income and Morningstar Defensive Bond is 0.18 (i.e., Average diversification). The correlation of Pimco Floating 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.

Pimco Floating Correlation With Market

Poor diversification

The correlation between Pimco Floating Income and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Floating 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 Floating Income. 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 unemployment.

Moving together with Pimco Mutual Fund

0.79	VBIRX	Vanguard Short Term	Pair Corr
0.88	VFSUX	Vanguard Short Term	Pair Corr
0.97	VFSIX	Vanguard Short Term	Pair Corr
0.97	VFSTX	Vanguard Short Term	Pair Corr
0.88	VBITX	Vanguard Short Term	Pair Corr
0.88	VBISX	Vanguard Short Term	Pair Corr
0.72	VSCSX	Vanguard Short Term	Pair Corr
0.94	LALDX	Lord Abbett Short	Pair Corr
0.9	LDLAX	Lord Abbett Short	Pair Corr
0.92	LDLRX	Lord Abbett Short	Pair Corr
0.76	NHS	Neuberger Berman High	Pair Corr
0.7	GSSQX	Goldman Sachs Equity	Pair Corr
0.85	PBLCX	Blue Chip Fund	Pair Corr
0.73	GLRIX	James Balanced Golden	Pair Corr
0.93	GILCX	Guggenheim Large Cap	Pair Corr
0.7	BMBSX	Baird Quality Interm	Pair Corr
0.92	CFIPX	Qs Global Equity	Pair Corr
0.86	BA	Boeing	Pair Corr

Moving against Pimco Mutual Fund

0.44	HPQ	HP Inc	Pair Corr
0.55	T	ATT Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ARTFX	SGYAX	BBINX	JAFLX	PRFHX	MSTBX
ARTFX		0.98	0.93	0.65	0.82	0.82	ARTFX
SGYAX	0.98		0.94	0.71	0.82	0.86	SGYAX
BBINX	0.93	0.94		0.7	0.95	0.81	BBINX
JAFLX	0.65	0.71	0.7		0.68	0.82	JAFLX
PRFHX	0.82	0.82	0.95	0.68		0.68	PRFHX
MSTBX	0.82	0.86	0.81	0.82	0.68		MSTBX
	ARTFX	SGYAX	BBINX	JAFLX	PRFHX	MSTBX

Risk-Adjusted Indicators

There is a big difference between Pimco Mutual Fund performing well and Pimco Floating 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 Pimco Floating'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
ARTFX	0.09	0.00	(0.34)	0.10	0.00	(0.18)	0.22	(0.11)	0.66
SGYAX	0.12	0.02	(0.15)	0.30	0.00	(0.27)	0.57	(0.14)	0.87
BBINX	0.06	0.01	(0.31)	0.43	0.00	(0.15)	0.19	(0.10)	0.48
JAFLX	0.12	(0.01)	(0.27)	(0.09)	0.15	(0.14)	0.20	(0.30)	0.61
PRFHX	0.09	0.00	(0.30)	0.09	0.00	(0.15)	0.27	(0.18)	0.81
MSTBX	0.05	0.00	(0.40)	0.07	0.00	(0.11)	0.10	(0.10)	0.31

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