Pimco Income Correlations

Mutual Funds . USA . 
Fund . Pimco Income Fund
PIPNX Fund  USD 11.08  0.01  0.09%   
The current 90-days correlation between Pimco Income and International Investors Gold is 0.09 (i.e., Significant 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 0.83 (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 inflation.

Moving together with Pimco Mutual Fund

  0.88PWLEX Pimco Rae WorldwidePairCorr
  0.75PWLBX Pimco Rae WorldwidePairCorr
  0.89PWLMX Pimco Rae WorldwidePairCorr
  0.89PWLIX Pimco Rae WorldwidePairCorr
  0.95PFBPX Pimco Foreign BondPairCorr
  0.95PFCJX Pimco Preferred AndPairCorr
  0.91PFATX Pimco FundamentalPairCorr
  0.95PFANX Pimco Capital SecPairCorr
  0.95PFIAX Pimco Floating IncomePairCorr
  0.98PFIIX Pimco Floating IncomePairCorr
  0.94PFIUX Pimco Unconstrained BondPairCorr
  0.96PFINX Pimco Capital SecPairCorr
  0.96PFMIX Municipal BondPairCorr
  0.96PFNCX Pimco Floating IncomePairCorr
  0.93PFONX Pimco International BondPairCorr
  0.95PFORX Pimco Foreign BondPairCorr
  0.96PFNNX Pimco Preferred AndPairCorr
  0.98PFNIX Pimco Low DurationPairCorr
  0.94PFNUX Pimco Dynamic BondPairCorr
  0.92PFOAX Pimco Foreign BondPairCorr
  0.89PFOCX Pimco Foreign BondPairCorr
  0.89PFRCX Foreign BondPairCorr
  0.92PFRAX Pimco Foreign BondPairCorr
  0.94PFRMX Pimco Inflation ResponsePairCorr
  0.96PFPNX Pimco Capital SecPairCorr
  0.94PFTCX Short Term FundPairCorr
  0.98PFTPX Pimco Floating IncomePairCorr
  0.91PFRRX Pimco Foreign BondPairCorr
  0.95PFSIX Pimco Emerging MarketsPairCorr
  0.9PFUUX Pimco Foreign BondPairCorr
  0.9PFUAX Foreign BondPairCorr
  0.9PFUIX Foreign BondPairCorr
  0.9PFUNX Pimco International BondPairCorr
  0.9PFUPX Pimco Foreign BondPairCorr
  0.96PGAPX Pimco Global MultiPairCorr
  0.88PXTIX Fundamental IndexplusPairCorr
  0.88PXTNX Pimco Rae PlusPairCorr
  0.95PGBIX Global Bond FundPairCorr

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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