Pimco Floating Correlations

Mutual Funds . USA . 
Fund . Pimco Floating Income
PFTPX Fund  USD 8.32  0.01  0.12%   
The current 90-days correlation between Pimco Floating Income and Omni Small Cap Value is 0.2 (i.e., Modest 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

Very poor diversification

The correlation between Pimco Floating Income and DJI is 0.87 (i.e., Very 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 metropolitan statistical area.

Moving together with Pimco Mutual Fund

  0.71PWLMX Pimco Rae WorldwidePairCorr
  0.73PWLIX Pimco Rae WorldwidePairCorr
  0.98PFIAX Pimco Floating IncomePairCorr
  1.0PFIIX Pimco Floating IncomePairCorr
  0.97PHFNX Pimco High YieldPairCorr
  0.97PHIYX High Yield FundPairCorr
  0.71PDI Pimco Dynamic IncomePairCorr
  0.94PZCRX Pimco Credit AbsolutePairCorr
  0.97PHSIX Pimco High YieldPairCorr
  0.97ATMCX Pimco Unconstrained TaxPairCorr
  0.92PMJPX Pimco Rae Fundamental Potential GrowthPairCorr
  0.98FXICX Fixed Income SharesPairCorr
  0.75FXIEX Fixed Income SharesPairCorr
  0.69PNYAX New York MunicipalPairCorr
  0.91PPQZX Pimco Realpath BlendPairCorr
  0.92PQTAX Pimco Trends ManagedPairCorr
  0.93PQTIX Aa Pimco TrPairCorr
  0.93PQTNX Pimco Trends ManagedPairCorr
  0.76PRFAX Total ReturnPairCorr
  0.84PSCSX Pimco Small CapPairCorr
  0.96PSFAX Short Term FundPairCorr
  0.91PSTKX Stocksplus Fund InstPairCorr
  0.86PBPNX Pimco Realpath BlendPairCorr
  0.81PBRNX Pimco Realpath BlendPairCorr
  0.96PTLDX Low DurationPairCorr
  0.96PTSHX Short Term FundPairCorr
  0.96PTSPX Pimco Short TermPairCorr
  0.95PTSRX Short Term FundPairCorr
  0.78PTTAX Total ReturnPairCorr

Moving against Pimco Mutual Fund

  0.57PFGAX Long Term GovernmentPairCorr
  0.57PRAIX Real Return AssetPairCorr

Related Correlations Analysis


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.

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