Pimco High Correlations

Mutual Funds . USA . 
Fund . Pimco High Yield
PYMCX Fund  USD 8.43  0.02  0.24%   
The current 90-days correlation between Pimco High Yield and Jpmorgan High Yield is 0.27 (i.e., Modest diversification). The correlation of Pimco High 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 High Correlation With Market

Average diversification

The correlation between Pimco High Yield and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco High Yield 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 High Yield. 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 main economic indicators.

Moving together with Pimco Mutual Fund

  0.66PWLEX Pimco Rae WorldwidePairCorr
  0.66PWLBX Pimco Rae WorldwidePairCorr
  0.66PWLMX Pimco Rae WorldwidePairCorr
  0.86PWLIX Pimco Rae WorldwidePairCorr
  0.67PFCJX Pimco Preferred AndPairCorr
  0.74PFANX Pimco Capital SecPairCorr
  0.84PFGAX Long Term GovernmentPairCorr
  0.86PFGCX Long Term GovernmentPairCorr
  0.71PFINX Pimco Capital SecPairCorr
  0.97PFMIX Municipal BondPairCorr
  0.61PFORX Pimco Foreign BondPairCorr
  0.72PFNNX Pimco Preferred AndPairCorr
  0.67PFRCX Foreign BondPairCorr
  0.71PFPNX Pimco Capital SecPairCorr
  0.79PFSIX Pimco Emerging MarketsPairCorr
  0.7PFUUX Pimco Foreign BondPairCorr
  0.64PFUAX Foreign BondPairCorr
  0.71PFUIX Foreign BondPairCorr
  0.7PFUNX Pimco International BondPairCorr
  0.68PFUPX Pimco Foreign BondPairCorr
  0.65PGAPX Pimco Global MultiPairCorr
  0.74PXTIX Fundamental IndexplusPairCorr
  0.73PXTNX Pimco Rae PlusPairCorr

Moving against Pimco Mutual Fund

  0.35PFTCX Short Term FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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