Pimco Municipal Correlations

PMX Fund

USD 7.87 0.08 1.03%

The current 90-days correlation between Pimco Municipal Income and Pimco Municipal Income is 0.46 (i.e., Very weak diversification). The correlation of Pimco Municipal 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 Municipal Correlation With Market

Significant diversification

The correlation between Pimco Municipal Income and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Municipal Income 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 Municipal Income. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving against Pimco Fund

0.57	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.57	KNPCX	Kinetics Paradigm Steady Growth	Pair Corr
0.57	KNPYX	Kinetics Paradigm Steady Growth	Pair Corr
0.56	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.56	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.56	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.56	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.5	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.5	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.5	SPMJX	Invesco Steelpath Mlp	Pair Corr
0.5	TLCYX	Touchstone Large Cap	Pair Corr
0.38	SAGAX	Ridgeworth Innovative	Pair Corr
0.33	MLMAX	Global E Portfolio	Pair Corr
0.31	WWLAX	Westwood Largecap Value	Pair Corr
0.31	AMEIX	Equity Growth	Pair Corr

Related Correlations Analysis

	PMF	PML	PZC	PNI	PCK
PMF		0.85	0.58	0.43	0.67	PMF
PML	0.85		0.85	0.71	0.89	PML
PZC	0.58	0.85		0.83	0.95	PZC
PNI	0.43	0.71	0.83		0.9	PNI
PCK	0.67	0.89	0.95	0.9		PCK
	PMF	PML	PZC	PNI	PCK

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Risk-Adjusted Indicators

There is a big difference between Pimco Fund performing well and Pimco Municipal 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 Municipal'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
PMF	0.71	0.02	(0.08)	0.22	0.92	(0.83)	1.22	(1.85)	5.43
PML	0.72	(0.01)	(0.11)	0.08	0.85	(0.84)	1.50	(1.24)	5.14
PZC	0.48	0.00	(0.18)	0.08	0.63	(0.48)	0.83	(1.11)	3.28
PNI	0.40	0.00	(0.18)	0.20	0.58	(0.40)	0.81	(0.81)	2.95
PCK	0.44	0.00	(0.18)	0.02	0.54	(0.51)	1.02	(0.84)	3.02

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Pimco Municipal Correlations

Pimco Municipal Correlation With Market

Significant diversification

Moving against Pimco Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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