Investment Grade Correlations

PIGIX Fund

USD 9.04 0.09 1.01%

The current 90-days correlation between Investment Grade Porate and Pro Blend Moderate Term is 0.51 (i.e., Very weak diversification). The correlation of Investment Grade 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.

Investment Grade Correlation With Market

Good diversification

The correlation between Investment Grade Porate and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Investment Grade Porate 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 Investment Grade Porate. 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 Investment Mutual Fund

0.72	PFATX	Pimco Fundamental	Pair Corr
0.94	PFGAX	Long Term Government	Pair Corr
0.94	PFGCX	Long Term Government	Pair Corr
0.78	PFMIX	Municipal Bond	Pair Corr
0.9	PFRCX	Foreign Bond	Pair Corr
0.91	PFSIX	Pimco Emerging Markets	Pair Corr
0.91	PFUUX	Pimco Foreign Bond	Pair Corr
0.9	PFUAX	Foreign Bond	Pair Corr
0.91	PFUIX	Foreign Bond	Pair Corr
0.91	PFUNX	Pimco International Bond	Pair Corr
0.91	PFUPX	Pimco Foreign Bond	Pair Corr
0.87	PGBIX	Global Bond Fund	Pair Corr

Moving against Investment Mutual Fund

0.67	PFTCX	Short Term Fund	Pair Corr
0.32	PXTIX	Fundamental Indexplus	Pair Corr
0.32	PXTNX	Pimco Rae Plus	Pair Corr

Related Correlations Analysis

	MNMCX	SCGCX	PGFCX	BIMPX
MNMCX		-0.04	0.67	0.64	MNMCX
SCGCX	-0.04		0.53	0.67	SCGCX
PGFCX	0.67	0.53		0.9	PGFCX
BIMPX	0.64	0.67	0.9		BIMPX
	MNMCX	SCGCX	PGFCX	BIMPX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

BIMPX	+ 0.9	PGFCX
PGFCX	+ 0.67	MNMCX
BIMPX	+ 0.67	SCGCX
BIMPX	+ 0.64	MNMCX
PGFCX	+ 0.53	SCGCX

High negative correlations

SCGCX

- 0.04

MNMCX

Risk-Adjusted Indicators

There is a big difference between Investment Mutual Fund performing well and Investment Grade 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 Investment Grade'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
MNMCX	0.24	(0.04)	0.00	(0.04)	0.00	0.00	0.47	(0.60)	1.48
SCGCX	0.43	(0.03)	(0.11)	0.08	0.47	(0.48)	1.00	(0.71)	2.74
PGFCX	0.23	0.00	(0.32)	0.12	0.19	(0.28)	0.48	(0.48)	1.43
BIMPX	0.25	(0.02)	(0.32)	0.03	0.25	(0.36)	0.68	(0.60)	1.58

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