Pimco New Correlations

PNF Fund

USD 7.95 0.01 0.13%

The current 90-days correlation between Pimco New York and Eaton Vance National is 0.33 (i.e., Weak diversification). The correlation of Pimco New 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.

Pimco New Correlation With Market

Significant diversification

The correlation between Pimco New York 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 New York 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 New York. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Pimco Fund

0.87	EIM	Eaton Vance Mbf	Pair Corr
0.81	IIF	Morgan Stanley India	Pair Corr
0.72	NNY	Nuveen New York	Pair Corr
0.61	RIV	Rivernorth Opportunities	Pair Corr
0.74	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.75	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr

Moving against Pimco Fund

0.38	FEN	First Trust Energy	Pair Corr
0.49	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr

Related Correlations Analysis

	VPV	MHN	EOT	NAN	NUW	ENX	NMI	NBH	VTN
VPV		0.89	0.68	0.89	0.73	0.4	0.16	0.5	0.89	VPV
MHN	0.89		0.77	0.85	0.87	0.45	0.4	0.72	0.8	MHN
EOT	0.68	0.77		0.53	0.66	0.17	0.33	0.57	0.53	EOT
NAN	0.89	0.85	0.53		0.66	0.33	0.03	0.41	0.74	NAN
NUW	0.73	0.87	0.66	0.66		0.53	0.64	0.86	0.74	NUW
ENX	0.4	0.45	0.17	0.33	0.53		0.7	0.67	0.68	ENX
NMI	0.16	0.4	0.33	0.03	0.64	0.7		0.83	0.41	NMI
NBH	0.5	0.72	0.57	0.41	0.86	0.67	0.83		0.59	NBH
VTN	0.89	0.8	0.53	0.74	0.74	0.68	0.41	0.59		VTN
	VPV	MHN	EOT	NAN	NUW	ENX	NMI	NBH	VTN

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Risk-Adjusted Indicators

There is a big difference between Pimco Fund performing well and Pimco New 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 New'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
VPV	0.31	0.04	(0.19)	3.27	0.31	(0.37)	0.64	(0.54)	1.91
MHN	0.36	0.01	(0.15)	0.62	0.62	(0.33)	0.75	(1.03)	2.69
EOT	0.35	0.00	(0.25)	0.06	0.42	(0.41)	0.75	(0.87)	2.08
NAN	0.38	0.02	(0.20)	1.12	0.43	(0.42)	0.78	(0.77)	2.12
NUW	0.32	(0.02)	0.00	(0.42)	0.00	0.00	0.65	(0.79)	2.89
ENX	0.43	0.00	(0.22)	0.09	0.54	(0.51)	0.85	(0.72)	2.59
NMI	0.27	(0.08)	0.00	1.28	0.00	0.00	0.60	(0.70)	1.65
NBH	0.40	(0.05)	0.00	(0.52)	0.00	0.00	0.91	(1.00)	2.23
VTN	0.36	0.03	(0.15)	2.74	0.44	(0.40)	0.71	(0.70)	2.25

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