Pimco Preferred Correlations

Mutual Funds . USA . 
Fund . Pimco Preferred And
PFCJX Fund  USD 9.11  0.06  0.65%   
The current 90-days correlation between Pimco Preferred And and Nuveen Preferred Securities is 0.83 (i.e., Very poor diversification). The correlation of Pimco Preferred 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 Preferred Correlation With Market

Poor diversification

The correlation between Pimco Preferred And and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Preferred And 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 Preferred And. 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 inflation.

Moving together with Pimco Mutual Fund

  0.81PWLEX Pimco Rae WorldwidePairCorr
  0.8PWLBX Pimco Rae WorldwidePairCorr
  0.81PWLMX Pimco Rae WorldwidePairCorr
  0.8PWLIX Pimco Rae WorldwidePairCorr
  0.72PFATX Pimco FundamentalPairCorr
  1.0PFANX Pimco Capital SecPairCorr
  0.83PFGAX Long Term GovernmentPairCorr
  0.83PFGCX Long Term GovernmentPairCorr
  0.9PFIAX Pimco Floating IncomePairCorr
  0.88PFIIX Pimco Floating IncomePairCorr
  0.85PFIUX Pimco Unconstrained BondPairCorr
  1.0PFINX Pimco Capital SecPairCorr
  0.75PFMIX Municipal BondPairCorr
  0.89PFNCX Pimco Floating IncomePairCorr
  1.0PFNNX Pimco Preferred AndPairCorr
  0.88PFNIX Pimco Low DurationPairCorr
  0.85PFNUX Pimco Dynamic BondPairCorr
  0.78PFRCX Foreign BondPairCorr
  0.85PFRMX Pimco Inflation ResponsePairCorr
  1.0PFPNX Pimco Capital SecPairCorr
  0.85PFTCX Short Term FundPairCorr
  0.88PFTPX Pimco Floating IncomePairCorr
  0.87PFSIX Pimco Emerging MarketsPairCorr
  0.79PFUUX Pimco Foreign BondPairCorr
  0.79PFUAX Foreign BondPairCorr
  0.8PFUIX Foreign BondPairCorr
  0.79PFUNX Pimco International BondPairCorr
  0.78PFUPX Pimco Foreign BondPairCorr
  0.82PGAPX Pimco Global MultiPairCorr
  0.87PGBIX Global Bond FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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