Pimco Foreign Correlations

Mutual Funds . USA . 
Fund . Pimco Foreign Bond
PFOCX Fund  USD 9.93  0.01  0.10%   
The current 90-days correlation between Pimco Foreign Bond and Alliancebernstein Global High is -0.02 (i.e., Good diversification). The correlation of Pimco Foreign 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 Foreign Correlation With Market

Good diversification

The correlation between Pimco Foreign Bond and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Foreign Bond 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 Foreign Bond. 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 main economic indicators.

Moving together with Pimco Mutual Fund

  0.99PFBPX Pimco Foreign BondPairCorr
  0.77PFCJX Pimco Preferred AndPairCorr
  0.76PFANX Pimco Capital SecPairCorr
  0.88PFIAX Pimco Floating IncomePairCorr
  0.87PFIIX Pimco Floating IncomePairCorr
  0.75PFIUX Pimco Unconstrained BondPairCorr
  0.75PFINX Pimco Capital SecPairCorr
  0.66PFMIX Municipal BondPairCorr
  0.8PFNCX Pimco Floating IncomePairCorr
  0.99PFONX Pimco International BondPairCorr
  0.99PFORX Pimco Foreign BondPairCorr
  0.75PFNNX Pimco Preferred AndPairCorr
  0.79PFNIX Pimco Low DurationPairCorr
  0.76PFNUX Pimco Dynamic BondPairCorr
  0.99PFOAX Pimco Foreign BondPairCorr
  0.99PFRAX Pimco Foreign BondPairCorr
  0.74PFPNX Pimco Capital SecPairCorr
  0.79PFTPX Pimco Floating IncomePairCorr
  0.99PFRRX Pimco Foreign BondPairCorr
  0.75PGBIX Global Bond FundPairCorr

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   
DBLGX
+ 0.9
DHGCX
MGGNX
+ 0.73
CABIX
MGGNX
+ 0.7
DHGCX
DBLGX
+ 0.65
AWF
DHGCX
+ 0.64
AWF
CABIX
+ 0.63
AWF
  
High negative correlations   
DBLGX
- 0.88
APDPX
APDPX
- 0.73
DHGCX
APDPX
- 0.41
AWF
WRLDX
- 0.36
DBLGX
WRLDX
- 0.22
DHGCX
MGGNX
- 0.08
APDPX

Risk-Adjusted Indicators

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