Pimco Global Correlations

Mutual Funds . USA . 
Fund . Pimco Global Bond
PGNPX Fund  USD 9.53  0.01  0.11%   
The current 90-days correlation between Pimco Global Bond and Foreign Bond Fund is 0.49 (i.e., Very weak diversification). The correlation of Pimco Global 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 Global Correlation With Market

Average diversification

The correlation between Pimco Global Bond and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Global Bond 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 Global Bond. 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 american community survey.

Moving together with Pimco Mutual Fund

  0.83PFBPX Pimco Foreign BondPairCorr
  0.94PFIAX Pimco Floating IncomePairCorr
  0.91PFIIX Pimco Floating IncomePairCorr
  0.92PFIUX Pimco Unconstrained BondPairCorr
  0.64PFINX Pimco Capital SecPairCorr
  0.93PFNCX Pimco Floating IncomePairCorr
  0.81PFONX Pimco International BondPairCorr
  0.83PFORX Pimco Foreign BondPairCorr
  0.63PFNNX Pimco Preferred AndPairCorr
  0.91PFNIX Pimco Low DurationPairCorr
  0.9PFNUX Pimco Dynamic BondPairCorr
  0.8PFOAX Pimco Foreign BondPairCorr
  0.82PFOCX Pimco Foreign BondPairCorr
  0.84PFRAX Pimco Foreign BondPairCorr
  0.65PFPNX Pimco Capital SecPairCorr
  0.63PFTCX Short Term FundPairCorr
  0.91PFTPX Pimco Floating IncomePairCorr
  0.81PFRRX Pimco Foreign BondPairCorr
  0.79PGAPX Pimco Global MultiPairCorr
  1.0PGBIX Global Bond FundPairCorr

Related Correlations Analysis

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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   
PONAX
+ 0.96
PAEMX
PHDAX
+ 0.84
PAEMX
PONAX
+ 0.82
PHDAX
PTLAX
+ 0.74
PHDAX
PTLAX
+ 0.53
PAEMX
PONAX
+ 0.53
PTLAX
  
High negative correlations   
PTLAX
- 0.31
PFUAX
PHDAX
- 0.02
PFUAX

Risk-Adjusted Indicators

There is a big difference between Pimco Mutual Fund performing well and Pimco Global 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 Global'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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