Foreign Bond Correlations

Mutual Funds . USA . 
Fund . Foreign Bond Fund
PFRCX Fund  USD 7.68  0.12  1.59%   
The current 90-days correlation between Foreign Bond and Dreyfusstandish Global Fixed is 0.03 (i.e., Significant diversification). The correlation of Foreign Bond 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.

Foreign Bond Correlation With Market

Good diversification

The correlation between Foreign Bond Fund and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Foreign Bond Fund 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 Foreign Bond Fund. 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 Foreign Mutual Fund

  0.94PWLEX Pimco Rae WorldwidePairCorr
  0.94PWLBX Pimco Rae WorldwidePairCorr
  0.89PWLMX Pimco Rae WorldwidePairCorr
  0.94PWLIX Pimco Rae WorldwidePairCorr
  0.85PFCJX Pimco Preferred AndPairCorr
  0.88PFATX Pimco FundamentalPairCorr
  0.87PFANX Pimco Capital SecPairCorr
  0.9PFGAX Long Term GovernmentPairCorr
  0.91PFGCX Long Term GovernmentPairCorr
  0.94PFIAX Pimco Floating IncomePairCorr
  0.94PFIIX Pimco Floating IncomePairCorr
  0.94PFIUX Pimco Unconstrained BondPairCorr
  0.76PFINX Pimco Capital SecPairCorr
  0.93PFNCX Pimco Floating IncomePairCorr
  0.88PFNNX Pimco Preferred AndPairCorr
  0.73PFNIX Pimco Low DurationPairCorr
  0.69PFNUX Pimco Dynamic BondPairCorr
  0.92PFRMX Pimco Inflation ResponsePairCorr
  0.76PFPNX Pimco Capital SecPairCorr
  0.85PFTCX Short Term FundPairCorr
  0.73PFTPX Pimco Floating IncomePairCorr
  0.8PFSIX Pimco Emerging MarketsPairCorr
  1.0PFUUX Pimco Foreign BondPairCorr
  0.84PFUAX Foreign BondPairCorr
  0.71PFUIX Foreign BondPairCorr
  0.68PFUNX Pimco International BondPairCorr
  0.68PFUPX Pimco Foreign BondPairCorr
  0.93PGBIX Global Bond FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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