Pimco Emerging Correlations

Mutual Funds . USA . 
Fund . Pimco Emerging Local
PELAX Fund  USD 6.16  0.01  0.16%   
The current 90-days correlation between Pimco Emerging Local and Fidelity Flex Servative is 0.26 (i.e., Modest diversification). The correlation of Pimco Emerging 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 Emerging Correlation With Market

Modest diversification

The correlation between Pimco Emerging Local and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Emerging Local 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 Emerging Local. 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 nation.

Moving together with Pimco Mutual Fund

  0.88PFBPX Pimco Foreign BondPairCorr
  0.97PFCJX Pimco Preferred AndPairCorr
  0.97PFANX Pimco Capital SecPairCorr
  0.98PFIAX Pimco Floating IncomePairCorr
  0.97PFIIX Pimco Floating IncomePairCorr
  0.95PFIUX Pimco Unconstrained BondPairCorr
  0.97PFINX Pimco Capital SecPairCorr
  0.98PFNCX Pimco Floating IncomePairCorr
  0.86PFONX Pimco International BondPairCorr
  0.86PFORX Pimco Foreign BondPairCorr
  0.97PFNNX Pimco Preferred AndPairCorr
  0.98PFNIX Pimco Low DurationPairCorr
  0.96PFNUX Pimco Dynamic BondPairCorr
  0.86PFOAX Pimco Foreign BondPairCorr
  0.84PFOCX Pimco Foreign BondPairCorr
  0.82PFRCX Foreign BondPairCorr
  0.84PFRAX Pimco Foreign BondPairCorr
  0.93PFRMX Pimco Inflation ResponsePairCorr
  0.94PFTCX Short Term FundPairCorr
  0.98PFTPX Pimco Floating IncomePairCorr
  0.85PFRRX Pimco Foreign BondPairCorr
  0.99PFSIX Pimco Emerging MarketsPairCorr
  0.83PFUUX Pimco Foreign BondPairCorr
  0.81PFUIX Foreign BondPairCorr
  0.84PFUNX Pimco International BondPairCorr
  0.81PFUPX Pimco Foreign BondPairCorr
  0.94PGAPX Pimco Global MultiPairCorr
  0.95PXTIX Fundamental IndexplusPairCorr
  0.95PXTNX Pimco Rae PlusPairCorr
  0.95PGBIX Global Bond FundPairCorr
  0.95PGAIX Pimco Global MultiPairCorr
  0.86PGCAX Investment Grade PoratePairCorr

Moving against Pimco Mutual Fund

  0.82PWLBX Pimco Rae WorldwidePairCorr
  0.55PWLEX Pimco Rae WorldwidePairCorr
  0.48PWLMX Pimco Rae WorldwidePairCorr
  0.46PWLIX Pimco Rae WorldwidePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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