Pimco Income Correlations

Mutual Funds . USA . 
Fund . Pimco Income Fund
PIINX Fund  USD 11.00  0.01  0.09%   
The current 90-days correlation between Pimco Income and Siit High Yield is 0.55 (i.e., Very weak diversification). The correlation of Pimco Income 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 Income Correlation With Market

Very poor diversification

The correlation between Pimco Income Fund 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 Income 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 Pimco Income 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 state.

Moving together with Pimco Mutual Fund

  0.74PWLEX Pimco Rae WorldwidePairCorr
  0.75PWLMX Pimco Rae WorldwidePairCorr
  0.75PWLIX Pimco Rae WorldwidePairCorr
  0.62PFBPX Pimco Foreign BondPairCorr
  0.88PFCJX Pimco Preferred AndPairCorr
  0.87PFATX Pimco FundamentalPairCorr
  0.86PFANX Pimco Capital SecPairCorr
  0.96PFIAX Pimco Floating IncomePairCorr
  0.94PFIIX Pimco Floating IncomePairCorr
  0.96PFIUX Pimco Unconstrained BondPairCorr
  0.91PFINX Pimco Capital SecPairCorr
  0.79PFMIX Municipal BondPairCorr
  0.96PFNCX Pimco Floating IncomePairCorr
  0.62PFONX Pimco International BondPairCorr
  0.64PFORX Pimco Foreign BondPairCorr
  0.9PFNNX Pimco Preferred AndPairCorr
  0.96PFNIX Pimco Low DurationPairCorr
  0.66PFRCX Foreign BondPairCorr
  0.88PFRMX Pimco Inflation ResponsePairCorr
  0.9PFPNX Pimco Capital SecPairCorr
  0.94PFTCX Short Term FundPairCorr
  0.96PFTPX Pimco Floating IncomePairCorr
  0.94PFSIX Pimco Emerging MarketsPairCorr
  0.77PFUUX Pimco Foreign BondPairCorr
  0.7PFUAX Foreign BondPairCorr
  0.78PFUIX Foreign BondPairCorr
  0.77PFUNX Pimco International BondPairCorr
  0.77PFUPX Pimco Foreign BondPairCorr
  0.93PGAPX Pimco Global MultiPairCorr
  0.88PXTIX Fundamental IndexplusPairCorr
  0.89PXTNX Pimco Rae PlusPairCorr
  0.95PGBIX Global Bond FundPairCorr
  0.93PGAIX Pimco Global MultiPairCorr

Moving against Pimco Mutual Fund

  0.47PFGCX Long Term GovernmentPairCorr
  0.44PFGAX Long Term GovernmentPairCorr
  0.62PGOVX Long Term GovernmentPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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