Moderate Duration Correlations

Mutual Funds . USA . 
Fund . Moderate Duration Fund
PMDRX Fund  USD 9.53  0.03  0.32%   
The current 90-days correlation between Moderate Duration and Touchstone Large Cap is 0.11 (i.e., Average diversification). The correlation of Moderate Duration 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.

Moderate Duration Correlation With Market

Poor diversification

The correlation between Moderate Duration Fund and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Moderate Duration 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 Moderate Duration 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 Moderate Mutual Fund

  0.71PWLEX Pimco Rae WorldwidePairCorr
  0.73PWLMX Pimco Rae WorldwidePairCorr
  0.73PWLIX Pimco Rae WorldwidePairCorr
  0.66PFBPX Pimco Foreign BondPairCorr
  0.82PFCJX Pimco Preferred AndPairCorr
  0.8PFATX Pimco FundamentalPairCorr
  0.83PFANX Pimco Capital SecPairCorr
  0.91PFIAX Pimco Floating IncomePairCorr
  0.92PFIIX Pimco Floating IncomePairCorr
  0.92PFIUX Pimco Unconstrained BondPairCorr
  0.83PFINX Pimco Capital SecPairCorr
  0.79PFMIX Municipal BondPairCorr
  0.92PFNCX Pimco Floating IncomePairCorr
  0.66PFONX Pimco International BondPairCorr
  0.65PFORX Pimco Foreign BondPairCorr
  0.83PFNNX Pimco Preferred AndPairCorr
  0.92PFNIX Pimco Low DurationPairCorr
  0.67PFRCX Foreign BondPairCorr
  0.63PFRAX Pimco Foreign BondPairCorr
  0.79PFRMX Pimco Inflation ResponsePairCorr
  0.83PFPNX Pimco Capital SecPairCorr
  0.89PFTCX Short Term FundPairCorr
  0.92PFTPX Pimco Floating IncomePairCorr
  0.61PFRRX Pimco Foreign BondPairCorr
  0.87PFSIX Pimco Emerging MarketsPairCorr
  0.71PFUUX Pimco Foreign BondPairCorr
  0.7PFUAX Foreign BondPairCorr
  0.72PFUIX Foreign BondPairCorr
  0.72PFUNX Pimco International BondPairCorr
  0.72PFUPX Pimco Foreign BondPairCorr
  0.84PGAPX Pimco Global MultiPairCorr
  0.83PXTIX Fundamental IndexplusPairCorr
  0.83PXTNX Pimco Rae PlusPairCorr
  0.95PGBIX Global Bond FundPairCorr
  0.84PGAIX Pimco Global MultiPairCorr

Moving against Moderate Mutual Fund

  0.46PGOVX Long Term GovernmentPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Moderate Mutual Fund performing well and Moderate Duration 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 Moderate Duration'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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