Pimco Global Incme Fund Market Value
| PGI-UN Fund | CAD 7.46 0.06 0.80% |
| Symbol | PIMCO |
Please note, there is a significant difference between PIMCO Global's value and its price as these two are different measures arrived at by different means. Investors typically determine if PIMCO Global is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, PIMCO Global's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
PIMCO Global '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 Global'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 Global.
| 11/03/2024 |
| 12/03/2024 |
If you would invest 0.00 in PIMCO Global on November 3, 2024 and sell it all today you would earn a total of 0.00 from holding PIMCO Global Incme or generate 0.0% return on investment in PIMCO Global over 30 days. PIMCO Global is related to or competes with RBC Select, RBC Portefeuille, Edgepoint Global, TD Comfort, RBC Global, and Mawer Dactions. PIMCO Global Income Opportunities Fund is a close ended fixed income mutual fund launched and managed by PIMCO Canada Co... More
PIMCO Global 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 Global'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 Global Incme upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.6902 | |||
| Information Ratio | (0.12) | |||
| Maximum Drawdown | 3.1 | |||
| Value At Risk | (0.94) | |||
| Potential Upside | 1.33 |
PIMCO Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for PIMCO Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as PIMCO Global's standard deviation. In reality, there are many statistical measures that can use PIMCO Global historical prices to predict the future PIMCO Global's volatility.| Risk Adjusted Performance | 0.0371 | |||
| Jensen Alpha | 0.0262 | |||
| Total Risk Alpha | (0.08) | |||
| Sortino Ratio | (0.13) | |||
| Treynor Ratio | (3.48) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of PIMCO Global'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 Global Incme Backtested Returns
At this point, PIMCO Global is very steady. PIMCO Global Incme maintains Sharpe Ratio (i.e., Efficiency) of 0.0127, which implies the entity had a 0.0127% return per unit of volatility over the last 3 months. We have found twenty-nine technical indicators for PIMCO Global Incme, which you can use to evaluate the volatility of the fund. Please check PIMCO Global's risk adjusted performance of 0.0371, and Semi Deviation of 0.5754 to confirm if the risk estimate we provide is consistent with the expected return of 0.0087%. The fund holds a Beta of -0.0073, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning PIMCO Global are expected to decrease at a much lower rate. During the bear market, PIMCO Global is likely to outperform the market.
Auto-correlation | 0.20 |
Weak predictability
PIMCO Global Incme has weak predictability. Overlapping area represents the amount of predictability between PIMCO Global time series from 3rd of November 2024 to 18th of November 2024 and 18th of November 2024 to 3rd of December 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 Global Incme price movement. The serial correlation of 0.2 indicates that over 20.0% of current PIMCO Global price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.2 | |
| Spearman Rank Test | 0.09 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
PIMCO Global Incme lagged returns against current returns
Autocorrelation, which is PIMCO Global 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 Global's fund expected returns. We can calculate the autocorrelation of PIMCO Global returns to help us make a trade decision. For example, suppose you find that PIMCO Global 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 Global 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 Global fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if PIMCO Global fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in PIMCO Global fund over time.
Current vs Lagged Prices |
| Timeline |
PIMCO Global Lagged Returns
When evaluating PIMCO Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of PIMCO Global fund have on its future price. PIMCO Global 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 Global autocorrelation shows the relationship between PIMCO Global fund current value and its past values and can show if there is a momentum factor associated with investing in PIMCO Global Incme.
Regressed Prices |
| Timeline |
Pair Trading with PIMCO Global
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 Global 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 Global will appreciate offsetting losses from the drop in the long position's value.Moving together with PIMCO Fund
| 0.68 | 0P0000706A | RBC Select Balanced | PairCorr |
| 0.7 | 0P00007069 | RBC Portefeuille | PairCorr |
| 0.65 | 0P0000IUYO | Edgepoint Global Por | PairCorr |
| 0.63 | 0P00012UCU | RBC Global Equity | PairCorr |
The ability to find closely correlated positions to PIMCO Global 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 Global 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 Global - 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 Global Incme to buy it.
The correlation of PIMCO Global 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 Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PIMCO Global Incme 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 Global 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 Global 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 Global security.
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