Pimco New Correlations

Mutual Funds . USA . 
Fund . Pimco New York
PNYPX Fund  USD 10.94  0.02  0.18%   
The current 90-days correlation between Pimco New York and Franklin New York is 0.96 (i.e., Almost no 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Pimco New Correlation With Market

Very good diversification

The correlation between Pimco New York and DJI is -0.3 (i.e., Very 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 mutual fund could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Pimco Mutual Fund

  0.61PFBPX Pimco Foreign BondPairCorr
  0.71PFIAX Pimco Floating IncomePairCorr
  0.65PFIIX Pimco Floating IncomePairCorr
  0.98PFMIX Municipal BondPairCorr
  0.71PFNCX Pimco Floating IncomePairCorr
  0.61PFONX Pimco International BondPairCorr
  0.61PFORX Pimco Foreign BondPairCorr
  0.71PFNIX Pimco Low DurationPairCorr
  0.61PFOAX Pimco Foreign BondPairCorr
  0.66PFOCX Pimco Foreign BondPairCorr
  0.61PFRAX Pimco Foreign BondPairCorr
  0.71PFTPX Pimco Floating IncomePairCorr
  0.65PFRRX Pimco Foreign BondPairCorr
  0.64PFSIX Pimco Emerging MarketsPairCorr
  0.78PGBIX Global Bond FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Pimco Mutual Fund performing well and Pimco New 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 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.

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