Pimco Income Correlations

Mutual Funds . USA . 
Fund . Pimco Income Fund
PIMIX Fund  USD 10.51  0.02  0.19%   
The current 90-days correlation between Pimco Income and Doubleline Total Return is 0.85 (i.e., Very poor 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

Significant diversification

The correlation between Pimco Income Fund and DJI is 0.03 (i.e., Significant 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 gross domestic product.

Moving together with Pimco Mutual Fund

  0.63PWLBX Pimco Rae WorldwidePairCorr
  0.79PFBPX Pimco Foreign BondPairCorr
  0.73PFCJX Pimco Preferred AndPairCorr
  0.83PFANX Pimco Capital SecPairCorr
  0.81PFIAX Pimco Floating IncomePairCorr
  0.78PFIIX Pimco Floating IncomePairCorr
  0.75PFIUX Pimco Unconstrained BondPairCorr
  0.83PFINX Pimco Capital SecPairCorr
  0.78PFMIX Municipal BondPairCorr
  0.83PFNCX Pimco Floating IncomePairCorr
  0.77PFONX Pimco International BondPairCorr
  0.78PFORX Pimco Foreign BondPairCorr
  0.83PFNNX Pimco Preferred AndPairCorr
  0.78PFNIX Pimco Low DurationPairCorr
  0.74PFNUX Pimco Dynamic BondPairCorr
  0.79PFOAX Pimco Foreign BondPairCorr
  0.8PFOCX Pimco Foreign BondPairCorr
  0.77PFRAX Pimco Foreign BondPairCorr
  0.83PFPNX Pimco Capital SecPairCorr
  0.78PFTPX Pimco Floating IncomePairCorr
  0.79PFRRX Pimco Foreign BondPairCorr
  0.65PFSIX Pimco Emerging MarketsPairCorr
  0.86PGAPX Pimco Global MultiPairCorr
  0.82PGBIX Global Bond FundPairCorr

Related Correlations Analysis

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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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