Pimco Emerging Correlations

Mutual Funds . USA . 
Fund . Pimco Emerging Local
PELBX Fund  USD 6.16  0.01  0.16%   
The current 90-days correlation between Pimco Emerging Local and Elfun Diversified Fund is 0.27 (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

Average diversification

The correlation between Pimco Emerging Local and DJI is 0.13 (i.e., Average 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 bureau of labor statistics.

Moving together with Pimco Mutual Fund

  0.88PFBPX Pimco Foreign BondPairCorr
  0.97PFCJX Pimco Preferred AndPairCorr
  0.9PFANX Pimco Capital SecPairCorr
  0.9PFIAX Pimco Floating IncomePairCorr
  0.98PFIIX Pimco Floating IncomePairCorr
  0.89PFIUX Pimco Unconstrained BondPairCorr
  0.9PFINX Pimco Capital SecPairCorr
  0.98PFNCX Pimco Floating IncomePairCorr
  0.81PFONX Pimco International BondPairCorr
  0.87PFORX Pimco Foreign BondPairCorr
  0.9PFNNX Pimco Preferred AndPairCorr
  0.98PFNIX Pimco Low DurationPairCorr
  0.96PFNUX Pimco Dynamic BondPairCorr
  0.8PFOAX Pimco Foreign BondPairCorr
  0.84PFOCX Pimco Foreign BondPairCorr
  0.79PFRCX Foreign BondPairCorr
  0.85PFRAX Pimco Foreign BondPairCorr
  0.68PFRMX Pimco Inflation ResponsePairCorr
  0.86PFTCX Short Term FundPairCorr
  0.89PFTPX Pimco Floating IncomePairCorr
  0.85PFRRX Pimco Foreign BondPairCorr
  1.0PFSIX Pimco Emerging MarketsPairCorr
  0.81PFUUX Pimco Foreign BondPairCorr
  0.88PFUIX Foreign BondPairCorr
  0.81PFUNX Pimco International BondPairCorr
  0.88PFUPX Pimco Foreign BondPairCorr
  0.95PGAPX Pimco Global MultiPairCorr
  0.94PXTIX Fundamental IndexplusPairCorr
  0.85PXTNX Pimco Rae PlusPairCorr
  0.97PGBIX Global Bond FundPairCorr
  0.87PGAIX Pimco Global MultiPairCorr
  0.81PGCAX Investment Grade PoratePairCorr

Moving against Pimco Mutual Fund

  0.77PWLBX Pimco Rae WorldwidePairCorr
  0.47PWLEX Pimco Rae WorldwidePairCorr
  0.37PWLIX Pimco Rae WorldwidePairCorr
  0.34PWLMX Pimco Rae WorldwidePairCorr
  0.39PYMCX Pimco High YieldPairCorr

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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