Long-term Correlations

Mutual Funds . USA . 
Fund . Long Term Government Fund
PGOVX Fund  USD 14.34  0.32  2.28%   
The current 90-days correlation between Long Term Government and Neuberger Berman Real is 0.6 (i.e., Poor diversification). The correlation of Long-term 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.

Long-term Correlation With Market

Very good diversification

The correlation between Long Term Government Fund and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Long Term Government Fund 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 Long Term Government Fund. 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 real.

Moving together with Long-term Mutual Fund

  0.72PFATX Pimco FundamentalPairCorr
  1.0PFGAX Long Term GovernmentPairCorr
  1.0PFGCX Long Term GovernmentPairCorr
  0.63PFMIX Municipal BondPairCorr
  0.9PFRCX Foreign BondPairCorr
  0.77PFSIX Pimco Emerging MarketsPairCorr
  0.9PFUUX Pimco Foreign BondPairCorr
  0.9PFUAX Foreign BondPairCorr
  0.9PFUIX Foreign BondPairCorr
  0.9PFUNX Pimco International BondPairCorr
  0.9PFUPX Pimco Foreign BondPairCorr
  0.7PGBIX Global Bond FundPairCorr

Moving against Long-term Mutual Fund

  0.84PFTCX Short Term FundPairCorr
  0.54PFIUX Pimco Unconstrained BondPairCorr
  0.51PFNUX Pimco Dynamic BondPairCorr
  0.43PFINX Pimco Capital SecPairCorr
  0.43PFNNX Pimco Preferred AndPairCorr
  0.43PFPNX Pimco Capital SecPairCorr
  0.41PFANX Pimco Capital SecPairCorr
  0.35PFCJX Pimco Preferred AndPairCorr
  0.53PXTIX Fundamental IndexplusPairCorr
  0.53PXTNX Pimco Rae PlusPairCorr
  0.44PHSAX Pimco High YieldPairCorr
  0.42PGAPX Pimco Global MultiPairCorr
  0.42PGAIX Pimco Global MultiPairCorr
  0.37PGMCX Pimco Global MultiPairCorr

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   
RRRZX
+ 0.98
NREEX
AREWX
+ 0.98
PHRAX
AREWX
+ 0.96
RRRZX
AREWX
+ 0.93
NREEX
PHRAX
+ 0.9
RRRZX
PHRAX
+ 0.85
NREEX
  
High negative correlations   
PNDIX
- 0.08
NREEX
PNDIX
- 0.02
RRRZX

Risk-Adjusted Indicators

There is a big difference between Long-term Mutual Fund performing well and Long-term 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 Long-term'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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