Pimco New Correlations

PNI Fund

USD 7.43 0.03 0.41%

The current 90-days correlation between Pimco New York and Pimco New York is 0.56 (i.e., Very 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

Good diversification

The correlation between Pimco New York and DJI is -0.02 (i.e., Good 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

0.77	MXF	Mexico Closed	Pair Corr
0.84	EIM	Eaton Vance Mbf	Pair Corr
0.85	IIF	Morgan Stanley India	Pair Corr
0.82	NNY	Nuveen New York	Pair Corr
0.76	KO	Coca Cola Aggressive Push	Pair Corr

Moving against Pimco Fund

0.63	FEN	First Trust Energy	Pair Corr
0.46	CSQ	Calamos Strategic Total	Pair Corr
0.46	RQECX	Resq Dynamic Allocation	Pair Corr
0.43	VTSMX	Vanguard Total Stock	Pair Corr
0.38	SCRYX	Small Cap Core	Pair Corr
0.37	STFGX	State Farm Growth	Pair Corr
0.37	LLPFX	Longleaf Partners	Pair Corr
0.37	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.8	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.67	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.59	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.56	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.51	HPQ	HP Inc	Pair Corr
0.44	DIS	Walt Disney Aggressive Push	Pair Corr
0.4	WMT	Walmart Aggressive Push	Pair Corr
0.4	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.31	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	PYN	PNF	PZC	PMX	PCQ
PYN		0.89	0.84	0.8	0.74	PYN
PNF	0.89		0.85	0.83	0.84	PNF
PZC	0.84	0.85		0.86	0.82	PZC
PMX	0.8	0.83	0.86		0.66	PMX
PCQ	0.74	0.84	0.82	0.66		PCQ
	PYN	PNF	PZC	PMX	PCQ

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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
PYN	0.48	(0.01)	0.00	0.20	0.00	0.00	1.13	(0.99)	3.30
PNF	0.38	0.01	(0.21)	0.85	0.41	(0.52)	1.13	(0.75)	2.74
PZC	0.46	(0.01)	0.00	0.23	0.00	0.00	0.69	(1.11)	3.28
PMX	0.65	(0.03)	0.00	(0.79)	0.00	0.00	1.51	(1.65)	5.78
PCQ	0.46	0.01	(0.19)	0.05	0.58	(0.48)	1.04	(1.00)	2.76

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