Pimco Emerging Correlations

PELAX Fund  USD 6.16  0.01  0.16%   
The current 90-days correlation between Pimco Emerging Local and Vanguard Money Market is -0.04 (i.e., Good 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

Significant diversification

The correlation between Pimco Emerging Local and DJI is 0.02 (i.e., Significant 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

  0.86PFBPX Pimco Foreign BondPairCorr
  0.96PFCJX Pimco Preferred AndPairCorr
  0.97PFANX Pimco Capital SecPairCorr
  0.97PFIAX Pimco Floating IncomePairCorr
  0.98PFIIX Pimco Floating IncomePairCorr
  0.96PFIUX Pimco Unconstrained BondPairCorr
  0.97PFINX Pimco Capital SecPairCorr
  0.97PFNCX 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
  0.84PFOAX Pimco Foreign BondPairCorr
  0.82PFOCX Pimco Foreign BondPairCorr
  0.86PFRCX Foreign BondPairCorr
  0.84PFRAX Pimco Foreign BondPairCorr
  0.71PFRMX Pimco Inflation ResponsePairCorr
  0.93PFTCX Short Term FundPairCorr
  0.63PFRRX Pimco Foreign BondPairCorr
  0.99PFSIX Pimco Emerging MarketsPairCorr
  0.87PFUUX Pimco Foreign BondPairCorr
  0.88PFUAX Foreign BondPairCorr
  0.87PFUIX Foreign BondPairCorr
  0.87PFUNX Pimco International BondPairCorr
  0.82PFUPX Pimco Foreign BondPairCorr
  0.95PGAPX Pimco Global MultiPairCorr
  0.94PXTIX Fundamental IndexplusPairCorr
  0.94PXTNX Pimco Rae PlusPairCorr
  0.96PGBIX Global Bond FundPairCorr
  0.95PGAIX Pimco Global MultiPairCorr
  0.87PGCAX Investment Grade PoratePairCorr

Moving against Pimco Mutual Fund

  0.8PWLBX Pimco Rae WorldwidePairCorr
  0.38PYMPX Pimco High YieldPairCorr
  0.37PYMAX Pimco High YieldPairCorr

Related Correlations Analysis

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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   
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High negative correlations   
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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.