Pimco Emerging Correlations

Mutual Funds . USA . 
Fund . Pimco Emerging Local
PELBX Fund  USD 6.29  0.03  0.48%   
The current 90-days correlation between Pimco Emerging Local and Boston Partners Emerging is -0.07 (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

Good diversification

The correlation between Pimco Emerging Local and DJI is -0.05 (i.e., Good 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

  0.81PFBPX Pimco Foreign BondPairCorr
  0.85PFCJX Pimco Preferred AndPairCorr
  0.86PFANX Pimco Capital SecPairCorr
  0.83PFGAX Long Term GovernmentPairCorr
  0.83PFGCX Long Term GovernmentPairCorr
  0.91PFIAX Pimco Floating IncomePairCorr
  0.91PFIIX Pimco Floating IncomePairCorr
  0.92PFIUX Pimco Unconstrained BondPairCorr
  0.86PFINX Pimco Capital SecPairCorr
  0.83PFMIX Municipal BondPairCorr
  0.79PFNCX Pimco Floating IncomePairCorr
  0.76PFONX Pimco International BondPairCorr
  0.84PFORX Pimco Foreign BondPairCorr
  0.82PFNNX Pimco Preferred AndPairCorr
  0.77PFNIX Pimco Low DurationPairCorr
  0.88PFNUX Pimco Dynamic BondPairCorr
  0.84PFOAX Pimco Foreign BondPairCorr
  0.8PFOCX Pimco Foreign BondPairCorr
  0.77PFRAX Pimco Foreign BondPairCorr
  0.89PFRMX Pimco Inflation ResponsePairCorr
  0.81PFPNX Pimco Capital SecPairCorr
  0.87PFTCX Short Term FundPairCorr
  0.77PFTPX Pimco Floating IncomePairCorr
  0.83PFRRX Pimco Foreign BondPairCorr
  0.89PFSIX Pimco Emerging MarketsPairCorr
  0.71PGAPX Pimco Global MultiPairCorr
  0.88PXTIX Fundamental IndexplusPairCorr
  0.67PXTNX Pimco Rae PlusPairCorr
  0.89PGBIX Global Bond FundPairCorr

Moving against Pimco Mutual Fund

  0.75PWLIX Pimco Rae WorldwidePairCorr
  0.72PWLEX Pimco Rae WorldwidePairCorr
  0.71PWLMX Pimco Rae WorldwidePairCorr
  0.69PWLBX Pimco Rae WorldwidePairCorr

Related Correlations Analysis


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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