Pimco International Correlations

PIPAX Fund

USD 7.70 0.05 0.65%

The current 90-days correlation between Pimco International and Pimco Small Cap is 0.42 (i.e., Very weak diversification). The correlation of Pimco International 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 International Correlation With Market

Very weak diversification

The correlation between Pimco International Stocksplus and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco International Stocksplus 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 International Stocksplus. 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 nation.

Moving together with Pimco Mutual Fund

0.7	PFRMX	Pimco Inflation Response	Pair Corr
0.78	PGAPX	Pimco Global Multi	Pair Corr
0.67	PXTIX	Fundamental Indexplus	Pair Corr
0.67	PXTNX	Pimco Rae Plus	Pair Corr

Related Correlations Analysis

	PCKAX	PTOAX	PBDAX	PONAX
PCKAX		0.84	-0.55	-0.31	PCKAX
PTOAX	0.84		-0.55	-0.27	PTOAX
PBDAX	-0.55	-0.55		0.93	PBDAX
PONAX	-0.31	-0.27	0.93		PONAX
	PCKAX	PTOAX	PBDAX	PONAX

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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

PONAX	+ 0.93	PBDAX
PTOAX	+ 0.84	PCKAX

High negative correlations

PBDAX	- 0.55	PTOAX
PBDAX	- 0.55	PCKAX
PONAX	- 0.31	PCKAX
PONAX	- 0.27	PTOAX

Risk-Adjusted Indicators

There is a big difference between Pimco Mutual Fund performing well and Pimco International 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 International'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
PCKAX	0.98	(0.02)	0.05	0.11	0.93	(1.16)	2.28	(1.73)	7.99
PTOAX	0.58	0.08	(0.05)	(3.47)	0.70	(0.68)	1.24	(1.31)	4.02
PBDAX	0.22	(0.04)	0.00	(0.79)	0.00	0.00	0.44	(0.65)	1.45
PONAX	0.15	(0.01)	(0.59)	(0.25)	0.19	(0.17)	0.28	(0.28)	1.04

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