Pimco Income Correlations

PONAX Fund

USD 11.00 0.01 0.09%

The current 90-days correlation between Pimco Income and Vanguard Wellington Fund is 0.2 (i.e., Modest diversification). The correlation of Pimco Income 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 Income Correlation With Market

Very poor diversification

The correlation between Pimco Income Fund and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Income 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 Pimco Income 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 nation.

Moving together with Pimco Mutual Fund

0.62	PWLEX	Pimco Rae Worldwide	Pair Corr
0.65	PWLMX	Pimco Rae Worldwide	Pair Corr
0.97	PHYAX	High Yield Fund	Pair Corr
0.89	PRQAX	Pimco Realpath Blend	Pair Corr
0.9	PAAIX	All Asset Fund	Pair Corr
0.9	PAALX	All Asset Fund	Pair Corr
0.92	PAIPX	Pimco Short Asset	Pair Corr
0.92	PAIQX	Pimco Short Asset	Pair Corr
0.93	PAMSX	Pimco Short Asset	Pair Corr
0.9	PALPX	Pimco All Asset	Pair Corr
0.93	PSDAX	Short Duration Municipal	Pair Corr
0.93	PSDCX	Short Duration Municipal	Pair Corr
0.95	PSDIX	Short Duration Municipal	Pair Corr
0.9	PASAX	All Asset Fund	Pair Corr
0.9	PASCX	All Asset Fund	Pair Corr
0.93	PSHAX	Short Term Fund	Pair Corr
0.82	PCIMX	California Intermediate	Pair Corr
0.86	PCMBX	California Intermediate	Pair Corr
0.98	PDVAX	Diversified Income	Pair Corr
1.0	PONCX	Pimco Income	Pair Corr
0.96	PIPNX	Pimco Income	Pair Corr
0.96	PONRX	Pimco Income	Pair Corr
0.96	PONPX	Pimco Incme Fund	Pair Corr
0.96	PIINX	Pimco Income	Pair Corr
0.96	PIMIX	Pimco Income	Pair Corr
0.95	LBNDX	Lord Abbett Bond	Pair Corr
0.87	FSTAX	Fidelity Advisor Str	Pair Corr
0.87	FSRIX	Fidelity Advisor Str	Pair Corr
0.91	FSMMX	Fs Multi Strategy	Pair Corr
0.89	BTMPX	Ishares Msci Eafe	Pair Corr
0.91	BTMKX	Blackrock International	Pair Corr
0.91	MDIIX	Blackrock Intern Index	Pair Corr
0.78	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.77	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	FCNTX	FNPFX	VDIPX	AFMBX	AEPFX	DOXGX	PHIYX	JLGRX	FSKAX	VWELX
FCNTX		0.87	0.85	0.88	0.81	0.9	0.78	0.29	0.97	0.91	FCNTX
FNPFX	0.87		0.94	0.9	0.99	0.92	0.86	-0.09	0.82	0.82	FNPFX
VDIPX	0.85	0.94		0.96	0.95	0.93	0.92	-0.19	0.84	0.82	VDIPX
AFMBX	0.88	0.9	0.96		0.89	0.91	0.92	-0.07	0.9	0.89	AFMBX
AEPFX	0.81	0.99	0.95	0.89		0.9	0.87	-0.19	0.77	0.77	AEPFX
DOXGX	0.9	0.92	0.93	0.91	0.9		0.84	-0.04	0.87	0.83	DOXGX
PHIYX	0.78	0.86	0.92	0.92	0.87	0.84		-0.25	0.79	0.83	PHIYX
JLGRX	0.29	-0.09	-0.19	-0.07	-0.19	-0.04	-0.25		0.31	0.17	JLGRX
FSKAX	0.97	0.82	0.84	0.9	0.77	0.87	0.79	0.31		0.95	FSKAX
VWELX	0.91	0.82	0.82	0.89	0.77	0.83	0.83	0.17	0.95		VWELX
	FCNTX	FNPFX	VDIPX	AFMBX	AEPFX	DOXGX	PHIYX	JLGRX	FSKAX	VWELX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

AEPFX	+ 0.99	FNPFX
FSKAX	+ 0.97	FCNTX
AFMBX	+ 0.96	VDIPX
AEPFX	+ 0.95	VDIPX
VWELX	+ 0.95	FSKAX
VDIPX	+ 0.94	FNPFX

High negative correlations

JLGRX	- 0.25	PHIYX
JLGRX	- 0.19	AEPFX
JLGRX	- 0.19	VDIPX
JLGRX	- 0.09	FNPFX
JLGRX	- 0.07	AFMBX
JLGRX	- 0.04	DOXGX

Risk-Adjusted Indicators

There is a big difference between Pimco Mutual Fund performing well and Pimco Income 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 Income'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
FCNTX	0.66	0.00	(0.01)	0.07	0.90	(0.66)	1.21	(1.60)	4.09
FNPFX	0.65	0.08	0.08	0.17	0.59	(0.73)	1.31	(1.30)	8.98
VDIPX	0.58	0.10	0.10	0.20	0.54	(0.63)	1.31	(1.25)	3.79
AFMBX	0.43	0.03	0.00	0.12	0.44	(0.45)	0.95	(0.91)	2.64
AEPFX	0.73	0.20	0.24	0.32	0.33	(0.86)	1.43	(1.22)	11.31
DOXGX	0.59	(0.02)	(0.04)	0.05	0.72	(0.59)	1.26	(1.05)	3.64
PHIYX	0.12	0.02	(0.30)	3.00	0.00	(0.22)	0.25	(0.12)	0.99
JLGRX	0.78	(0.10)	0.00	(0.05)	0.00	0.00	1.60	(2.13)	5.32
FSKAX	0.57	(0.01)	(0.03)	0.05	0.77	(0.57)	1.16	(1.25)	3.57
VWELX	0.38	0.00	(0.05)	0.07	0.49	(0.37)	0.86	(0.92)	2.66

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