Pimco Rae Correlations

Mutual Funds . USA . 
Fund . Pimco Rae Fundamental
PZRPX Fund  USD 12.20  0.15  1.21%   
The current 90-days correlation between Pimco Rae Fundamental and Harbor Diversified International is 0.6 (i.e., Poor 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 0.87 (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

  0.78PWLEX Pimco Rae WorldwidePairCorr
  0.8PWLMX Pimco Rae WorldwidePairCorr
  0.82PWLIX Pimco Rae WorldwidePairCorr
  0.87PFCJX Pimco Preferred AndPairCorr
  0.9PFATX Pimco FundamentalPairCorr
  0.9PFANX Pimco Capital SecPairCorr
  0.94PFIAX Pimco Floating IncomePairCorr
  0.94PFIIX Pimco Floating IncomePairCorr
  0.93PFIUX Pimco Unconstrained BondPairCorr
  0.92PFINX Pimco Capital SecPairCorr
  0.72PFMIX Municipal BondPairCorr
  0.94PFNCX Pimco Floating IncomePairCorr
  0.92PFNNX Pimco Preferred AndPairCorr
  0.94PFNIX Pimco Low DurationPairCorr
  0.93PFNUX Pimco Dynamic BondPairCorr
  0.67PFRCX Foreign BondPairCorr
  0.94PFRMX Pimco Inflation ResponsePairCorr
  0.92PFPNX Pimco Capital SecPairCorr
  0.9PFTCX Short Term FundPairCorr
  0.94PFTPX Pimco Floating IncomePairCorr
  0.97PFSIX Pimco Emerging MarketsPairCorr
  0.78PFUUX Pimco Foreign BondPairCorr
  0.73PFUAX Foreign BondPairCorr
  0.79PFUIX Foreign BondPairCorr
  0.78PFUNX Pimco International BondPairCorr
  0.8PFUPX Pimco Foreign BondPairCorr
  0.97PGAPX Pimco Global MultiPairCorr
  0.93PXTIX Fundamental IndexplusPairCorr
  0.93PXTNX Pimco Rae PlusPairCorr
  0.89PGBIX Global Bond FundPairCorr

Moving against Pimco Mutual Fund

  0.56PFGCX Long Term GovernmentPairCorr
  0.55PFGAX Long Term GovernmentPairCorr
  0.67PGOVX 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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