Pimco Income Correlations

Mutual Funds . USA . 
Fund . Pimco Income Fund
PIINX Fund  USD 11.02  0.01  0.09%   
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 employment.

Moving together with Pimco Mutual Fund

  0.65PWLEX Pimco Rae WorldwidePairCorr
  0.67PWLMX Pimco Rae WorldwidePairCorr
  0.95PHYAX High Yield FundPairCorr
  0.86PRQAX Pimco Realpath BlendPairCorr
  0.9PAAIX All Asset FundPairCorr
  0.89PAALX All Asset FundPairCorr
  0.91PAIPX Pimco Short AssetPairCorr
  0.91PAIQX Pimco Short AssetPairCorr
  0.93PAMSX Pimco Short AssetPairCorr
  0.9PALPX Pimco All AssetPairCorr
  0.9PSDAX Short Duration MunicipalPairCorr
  0.9PSDCX Short Duration MunicipalPairCorr
  0.92PSDIX Short Duration MunicipalPairCorr
  0.87PASAX All Asset FundPairCorr
  0.89PASCX All Asset FundPairCorr
  0.92PSHAX Short Term FundPairCorr
  0.81PCIMX California IntermediatePairCorr
  0.8PCMBX California IntermediatePairCorr
  0.95PDVAX Diversified IncomePairCorr
  0.96PONAX Pimco IncomePairCorr
  0.95PONCX Pimco IncomePairCorr
  1.0PIPNX Pimco IncomePairCorr
  1.0PONRX Pimco IncomePairCorr
  1.0PONPX Pimco Incme FundPairCorr
  1.0PIMIX Pimco IncomePairCorr
  0.91LBNDX Lord Abbett BondPairCorr
  0.83FSTAX Fidelity Advisor StrPairCorr
  0.88FSRIX Fidelity Advisor StrPairCorr
  0.91FSMMX Fs Multi StrategyPairCorr
  0.86BTMPX Ishares Msci EafePairCorr
  0.89BTMKX Blackrock InternationalPairCorr
  0.89MDIIX Blackrock Intern IndexPairCorr
  0.78SPMPX Invesco Steelpath MlpPairCorr
  0.78MLPNX Oppenheimer Steelpath MlpPairCorr

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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