Pimco Rae Correlations

Mutual Funds . USA . 
Fund . Pimco Rae Plus
PXTNX Fund  USD 20.11  0.23  1.16%   
The current 90-days correlation between Pimco Rae Plus and Pimco Small Cap is 0.17 (i.e., Average 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

Average diversification

The correlation between Pimco Rae Plus and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Rae Plus 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 Plus. 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 board of governors.

Moving together with Pimco Mutual Fund

  0.68PFCJX Pimco Preferred AndPairCorr
  0.72PFANX Pimco Capital SecPairCorr
  0.71PFIUX Pimco Unconstrained BondPairCorr
  0.71PFINX Pimco Capital SecPairCorr
  0.7PFNNX Pimco Preferred AndPairCorr
  0.76PFNUX Pimco Dynamic BondPairCorr
  0.7PFPNX Pimco Capital SecPairCorr
  0.7PGAPX Pimco Global MultiPairCorr
  1.0PXTIX Fundamental IndexplusPairCorr

Moving against Pimco Mutual Fund

  0.55PFGCX Long Term GovernmentPairCorr
  0.49PFGAX Long Term GovernmentPairCorr
  0.43PFRCX Foreign BondPairCorr
  0.42PFUIX Foreign BondPairCorr
  0.38PFUUX Pimco Foreign BondPairCorr
  0.38PFUAX Foreign BondPairCorr
  0.53PGOVX Long Term GovernmentPairCorr
  0.42PFUNX Pimco International BondPairCorr
  0.42PFUPX Pimco Foreign BondPairCorr
  0.35PGCAX Investment Grade PoratePairCorr

Related Correlations Analysis

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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   
PTOAX
+ 0.91
PCKAX
PONAX
+ 0.64
PETAX
PTOAX
+ 0.43
PIPAX
PIPAX
+ 0.25
PCKAX
PETAX
+ 0.11
PIPAX
PONAX
+ 0.09
PIPAX
  
High negative correlations   
PONAX
- 0.38
PTOAX
PONAX
- 0.37
PCKAX
PETAX
- 0.22
PCKAX
PETAX
- 0.16
PTOAX

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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