Pimco Corporate Income Fund Market Value
| PCN Fund | USD 14.03 0.02 0.14% |
| Symbol | Pimco |
Pimco Corporate 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Pimco Corporate's fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Pimco Corporate.
| 10/26/2024 |
| 11/25/2024 |
If you would invest 0.00 in Pimco Corporate on October 26, 2024 and sell it all today you would earn a total of 0.00 from holding Pimco Corporate Income or generate 0.0% return on investment in Pimco Corporate over 30 days. Pimco Corporate is related to or competes with Pimco Dynamic, Guggenheim Strategic, Pimco Dynamic, Pimco High, BlackRock Limited, BlackRock Core, and Brightsphere Investment. PIMCO Corporate Income Strategy Fund is a closed-ended fixed income mutual fund launched and managed by Allianz Global I... More
Pimco Corporate Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Pimco Corporate's fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Pimco Corporate Income upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.689 | |||
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 3.26 | |||
| Value At Risk | (0.43) | |||
| Potential Upside | 0.9455 |
Pimco Corporate Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pimco Corporate's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pimco Corporate's standard deviation. In reality, there are many statistical measures that can use Pimco Corporate historical prices to predict the future Pimco Corporate's volatility.| Risk Adjusted Performance | 0.1767 | |||
| Jensen Alpha | 0.0874 | |||
| Total Risk Alpha | 0.0285 | |||
| Sortino Ratio | (0.03) | |||
| Treynor Ratio | 0.7832 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Pimco Corporate's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Pimco Corporate Income Backtested Returns
As of now, Pimco Fund is very steady. Pimco Corporate Income maintains Sharpe Ratio (i.e., Efficiency) of 0.22, which implies the entity had a 0.22% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for Pimco Corporate Income, which you can use to evaluate the volatility of the fund. Please check Pimco Corporate's Coefficient Of Variation of 419.45, risk adjusted performance of 0.1767, and Semi Deviation of 0.3728 to confirm if the risk estimate we provide is consistent with the expected return of 0.1%. The fund holds a Beta of 0.13, which implies not very significant fluctuations relative to the market. As returns on the market increase, Pimco Corporate's returns are expected to increase less than the market. However, during the bear market, the loss of holding Pimco Corporate is expected to be smaller as well.
Auto-correlation | 0.87 |
Very good predictability
Pimco Corporate Income has very good predictability. Overlapping area represents the amount of predictability between Pimco Corporate time series from 26th of October 2024 to 10th of November 2024 and 10th of November 2024 to 25th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Pimco Corporate Income price movement. The serial correlation of 0.87 indicates that approximately 87.0% of current Pimco Corporate price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.87 | |
| Spearman Rank Test | 0.81 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Pimco Corporate Income lagged returns against current returns
Autocorrelation, which is Pimco Corporate fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Pimco Corporate's fund expected returns. We can calculate the autocorrelation of Pimco Corporate returns to help us make a trade decision. For example, suppose you find that Pimco Corporate has exhibited high autocorrelation historically, and you observe that the fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Pimco Corporate regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Pimco Corporate fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pimco Corporate fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Pimco Corporate fund over time.
Current vs Lagged Prices |
| Timeline |
Pimco Corporate Lagged Returns
When evaluating Pimco Corporate's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pimco Corporate fund have on its future price. Pimco Corporate autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Pimco Corporate autocorrelation shows the relationship between Pimco Corporate fund current value and its past values and can show if there is a momentum factor associated with investing in Pimco Corporate Income.
Regressed Prices |
| Timeline |
Pair Trading with Pimco Corporate
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Pimco Corporate position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Pimco Corporate will appreciate offsetting losses from the drop in the long position's value.Moving together with Pimco Fund
| 0.72 | TDF | Templeton Dragon Closed | PairCorr |
| 0.82 | PHK | Pimco High Income | PairCorr |
| 0.64 | PEO | Adams Natural Resources | PairCorr |
Moving against Pimco Fund
| 0.73 | VVR | Invesco Senior Income | PairCorr |
| 0.57 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
| 0.56 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
The ability to find closely correlated positions to Pimco Corporate could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Pimco Corporate when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Pimco Corporate - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Pimco Corporate Income to buy it.
The correlation of Pimco Corporate 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Pimco Corporate moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pimco Corporate Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Pimco Corporate can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Other Information on Investing in Pimco Fund
Pimco Corporate financial ratios help investors to determine whether Pimco Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Pimco with respect to the benefits of owning Pimco Corporate security.
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