Total Return Correlations

Mutual Funds . USA . 
Fund . Total Return Fund
PRFAX Fund  USD 7.89  0.01  0.13%   
The current 90-days correlation between Total Return and Commonwealth Real Estate is 0.48 (i.e., Very weak diversification). The correlation of Total Return 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.

Total Return Correlation With Market

Poor diversification

The correlation between Total Return Fund and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Total Return 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 Total Return 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 Total Mutual Fund

  0.61PWLEX Pimco Rae WorldwidePairCorr
  0.62PWLMX Pimco Rae WorldwidePairCorr
  0.62PWLIX Pimco Rae WorldwidePairCorr
  0.66PFBPX Pimco Foreign BondPairCorr
  0.73PFCJX Pimco Preferred AndPairCorr
  0.67PFATX Pimco FundamentalPairCorr
  0.74PFANX Pimco Capital SecPairCorr
  0.78PFIAX Pimco Floating IncomePairCorr
  0.82PFIIX Pimco Floating IncomePairCorr
  0.83PFIUX Pimco Unconstrained BondPairCorr
  0.75PFINX Pimco Capital SecPairCorr
  0.75PFMIX Municipal BondPairCorr
  0.77PFNCX Pimco Floating IncomePairCorr
  0.66PFORX Pimco Foreign BondPairCorr
  0.74PFNNX Pimco Preferred AndPairCorr
  0.81PFNIX Pimco Low DurationPairCorr
  0.83PFNUX Pimco Dynamic BondPairCorr
  0.66PFRAX Pimco Foreign BondPairCorr
  0.79PFRMX Pimco Inflation ResponsePairCorr
  0.75PFPNX Pimco Capital SecPairCorr
  0.69PFTCX Short Term FundPairCorr
  0.81PFTPX Pimco Floating IncomePairCorr
  0.79PFSIX Pimco Emerging MarketsPairCorr
  0.63PFUUX Pimco Foreign BondPairCorr
  0.64PFUIX Foreign BondPairCorr
  0.63PFUNX Pimco International BondPairCorr
  0.64PFUPX Pimco Foreign BondPairCorr
  0.79PGAPX Pimco Global MultiPairCorr
  0.7PXTIX Fundamental IndexplusPairCorr
  0.73PXTNX Pimco Rae PlusPairCorr
  0.9PGBIX Global Bond FundPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Total Mutual Fund performing well and Total Return 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 Total Return'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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