Pimco Rae Correlations

Mutual Funds . USA . 
Fund . Pimco Rae Fundamental
PPYPX Fund  USD 9.57  0.07  0.73%   
The current 90-days correlation between Pimco Rae Fundamental and Siit Small Cap is 0.28 (i.e., Modest diversification). The correlation of Pimco Rae 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 Rae Correlation With Market

Very poor diversification

The correlation between Pimco Rae Fundamental 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 Rae Fundamental 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 Rae Fundamental. 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 metropolitan statistical area.

Moving together with Pimco Mutual Fund

  0.75PWLEX Pimco Rae WorldwidePairCorr
  0.77PWLMX Pimco Rae WorldwidePairCorr
  0.79PWLIX Pimco Rae WorldwidePairCorr
  0.8PFCJX Pimco Preferred AndPairCorr
  0.91PFATX Pimco FundamentalPairCorr
  0.84PFANX Pimco Capital SecPairCorr
  0.92PFIAX Pimco Floating IncomePairCorr
  0.94PFIIX Pimco Floating IncomePairCorr
  0.92PFIUX Pimco Unconstrained BondPairCorr
  0.86PFINX Pimco Capital SecPairCorr
  0.66PFMIX Municipal BondPairCorr
  0.93PFNCX Pimco Floating IncomePairCorr
  0.86PFNNX Pimco Preferred AndPairCorr
  0.93PFNIX Pimco Low DurationPairCorr
  0.92PFNUX Pimco Dynamic BondPairCorr
  0.62PFRCX Foreign BondPairCorr
  0.86PFRMX Pimco Inflation ResponsePairCorr
  0.86PFPNX Pimco Capital SecPairCorr
  0.89PFTCX Short Term FundPairCorr
  0.93PFTPX Pimco Floating IncomePairCorr
  0.94PFSIX Pimco Emerging MarketsPairCorr
  0.73PFUUX Pimco Foreign BondPairCorr
  0.68PFUAX Foreign BondPairCorr
  0.74PFUIX Foreign BondPairCorr
  0.73PFUNX Pimco International BondPairCorr
  0.75PFUPX Pimco Foreign BondPairCorr
  0.94PGAPX Pimco Global MultiPairCorr
  0.97PXTIX Fundamental IndexplusPairCorr
  0.96PXTNX Pimco Rae PlusPairCorr
  0.88PGBIX Global Bond FundPairCorr

Moving against Pimco Mutual Fund

  0.63PFGCX Long Term GovernmentPairCorr
  0.61PFGAX Long Term GovernmentPairCorr
  0.72PGOVX Long Term GovernmentPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Pimco Mutual Fund performing well and Pimco Rae 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 Rae'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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