Pimco New Correlations

PYN Fund

USD 5.93 0.05 0.85%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Pimco New moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pimco New York moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Pimco New Correlation With Market

Good diversification

The correlation between Pimco New York and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco New York 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 New York. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Pimco Fund

0.64	MXF	Mexico Closed	Pair Corr
0.81	EIM	Eaton Vance Mbf	Pair Corr
0.7	IIF	Morgan Stanley India	Pair Corr
0.69	NNY	Nuveen New York	Pair Corr

Moving against Pimco Fund

0.33	GAB	Gabelli Equity Trust	Pair Corr
0.32	RQECX	Resq Dynamic Allocation	Pair Corr
0.31	CHI	Calamos Convertible	Pair Corr
0.65	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.5	BAC	Bank of America Aggressive Push	Pair Corr
0.39	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.37	HPQ	HP Inc	Pair Corr
0.32	DIS	Walt Disney Aggressive Push	Pair Corr

Related Correlations Analysis

	EVY	NBH	NUW	VFL	VTN	PNI	BNY	ENX	GRF	PNF
EVY		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	EVY
NBH	0.0		0.86	0.9	0.57	0.85	0.86	0.53	-0.59	0.7	NBH
NUW	0.0	0.86		0.85	0.72	0.79	0.93	0.41	-0.47	0.85	NUW
VFL	0.0	0.9	0.85		0.65	0.89	0.88	0.55	-0.6	0.78	VFL
VTN	0.0	0.57	0.72	0.65		0.67	0.73	0.63	-0.16	0.7	VTN
PNI	0.0	0.85	0.79	0.89	0.67		0.84	0.72	-0.54	0.72	PNI
BNY	0.0	0.86	0.93	0.88	0.73	0.84		0.43	-0.49	0.91	BNY
ENX	0.0	0.53	0.41	0.55	0.63	0.72	0.43		-0.21	0.25	ENX
GRF	0.0	-0.59	-0.47	-0.6	-0.16	-0.54	-0.49	-0.21		-0.38	GRF
PNF	0.0	0.7	0.85	0.78	0.7	0.72	0.91	0.25	-0.38		PNF
	EVY	NBH	NUW	VFL	VTN	PNI	BNY	ENX	GRF	PNF

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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

BNY	+ 0.93	NUW
PNF	+ 0.91	BNY
VFL	+ 0.9	NBH
PNI	+ 0.89	VFL
BNY	+ 0.88	VFL
NUW	+ 0.86	NBH

High negative correlations

GRF	- 0.6	VFL
GRF	- 0.59	NBH
GRF	- 0.54	PNI
GRF	- 0.49	BNY
GRF	- 0.47	NUW
PNF	- 0.38	GRF

Risk-Adjusted Indicators

There is a big difference between Pimco Fund performing well and Pimco New 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 New'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
EVY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NBH	0.40	(0.05)	0.00	(0.57)	0.00	0.00	0.91	(1.00)	2.23
NUW	0.32	(0.01)	0.00	(0.25)	0.00	0.00	0.65	(0.79)	2.89
VFL	0.47	(0.06)	0.00	(0.20)	0.00	0.00	0.99	(1.13)	2.79
VTN	0.36	0.04	(0.14)	2.33	0.43	(0.40)	0.79	(0.70)	2.25
PNI	0.40	(0.02)	0.00	(0.19)	0.00	0.00	0.64	(0.81)	2.95
BNY	0.38	0.02	(0.17)	(0.24)	0.50	(0.44)	0.76	(1.03)	2.38
ENX	0.44	0.00	(0.19)	0.04	0.54	(0.53)	0.93	(0.72)	2.59
GRF	0.86	0.11	(0.01)	(6.02)	0.91	(1.22)	2.06	(1.33)	7.03
PNF	0.38	0.01	(0.21)	0.89	0.41	(0.52)	1.13	(0.75)	2.74

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