Short-term Fund Correlations

PFTCX Fund

USD 9.67 0.00 0.00%

The current 90-days correlation between Short Term Fund and Pimco Rae Worldwide is -0.07 (i.e., Good diversification). The correlation of Short-term Fund 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.

Short-term Fund Correlation With Market

Good diversification

The correlation between Short Term Fund C 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 Short Term Fund C 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 Short Term Fund C. 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 Short-term Mutual Fund

0.85	PFBPX	Pimco Foreign Bond	Pair Corr
0.67	PFCJX	Pimco Preferred And	Pair Corr
0.67	PFANX	Pimco Capital Sec	Pair Corr
0.95	PFIAX	Pimco Floating Income	Pair Corr
0.94	PFIIX	Pimco Floating Income	Pair Corr
0.91	PFIUX	Pimco Unconstrained Bond	Pair Corr
0.95	PFINX	Pimco Capital Sec	Pair Corr
0.94	PFNCX	Pimco Floating Income	Pair Corr
0.85	PFONX	Pimco International Bond	Pair Corr
0.85	PFORX	Pimco Foreign Bond	Pair Corr
0.95	PFNNX	Pimco Preferred And	Pair Corr
0.95	PFNIX	Pimco Low Duration	Pair Corr
0.9	PFNUX	Pimco Dynamic Bond	Pair Corr
0.84	PFOAX	Pimco Foreign Bond	Pair Corr
0.8	PFOCX	Pimco Foreign Bond	Pair Corr
0.69	PFRCX	Foreign Bond	Pair Corr
0.83	PFRAX	Pimco Foreign Bond	Pair Corr
0.95	PFPNX	Pimco Capital Sec	Pair Corr
0.95	PFTPX	Pimco Floating Income	Pair Corr
0.82	PFRRX	Pimco Foreign Bond	Pair Corr
0.95	PFSIX	Pimco Emerging Markets	Pair Corr
0.72	PFUUX	Pimco Foreign Bond	Pair Corr
0.72	PFUAX	Foreign Bond	Pair Corr
0.72	PFUIX	Foreign Bond	Pair Corr
0.72	PFUNX	Pimco International Bond	Pair Corr
0.72	PFUPX	Pimco Foreign Bond	Pair Corr
0.96	PGAPX	Pimco Global Multi	Pair Corr
0.94	PXTIX	Fundamental Indexplus	Pair Corr
0.96	PGAIX	Pimco Global Multi	Pair Corr

Moving against Short-term Mutual Fund

0.55	PWLBX	Pimco Rae Worldwide	Pair Corr
0.46	PWLEX	Pimco Rae Worldwide	Pair Corr
0.44	PWLMX	Pimco Rae Worldwide	Pair Corr
0.42	PWLIX	Pimco Rae Worldwide	Pair Corr

Related Correlations Analysis

	PWLEX	PNRNX	PWLBX	PWLMX	PWLIX	PNYIX	PNYNX	PNYPX	PNYAX
PWLEX		-0.18	0.79	0.98	0.99	0.11	0.16	0.17	0.15	PWLEX
PNRNX	-0.18		-0.15	-0.2	-0.18	0.51	0.45	0.45	0.46	PNRNX
PWLBX	0.79	-0.15		0.74	0.73	0.01	0.06	0.07	0.06	PWLBX
PWLMX	0.98	-0.2	0.74		0.99	0.09	0.13	0.14	0.13	PWLMX
PWLIX	0.99	-0.18	0.73	0.99		0.09	0.14	0.14	0.13	PWLIX
PNYIX	0.11	0.51	0.01	0.09	0.09		0.99	0.99	0.99	PNYIX
PNYNX	0.16	0.45	0.06	0.13	0.14	0.99		1.0	1.0	PNYNX
PNYPX	0.17	0.45	0.07	0.14	0.14	0.99	1.0		1.0	PNYPX
PNYAX	0.15	0.46	0.06	0.13	0.13	0.99	1.0	1.0		PNYAX
	PWLEX	PNRNX	PWLBX	PWLMX	PWLIX	PNYIX	PNYNX	PNYPX	PNYAX

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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

PNYPX	+ 1.0	PNYNX
PNYAX	+ 1.0	PNYNX
PNYAX	+ 1.0	PNYPX
PWLIX	+ 0.99	PWLEX
PWLIX	+ 0.99	PWLMX
PNYNX	+ 0.99	PNYIX

High negative correlations

PWLMX	- 0.2	PNRNX
PWLIX	- 0.18	PNRNX
PNRNX	- 0.18	PWLEX
PWLBX	- 0.15	PNRNX

Risk-Adjusted Indicators

There is a big difference between Short-term Mutual Fund performing well and Short-term Fund 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 Short-term Fund'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PWLEX	0.36	(0.07)	0.00	(0.51)	0.00	0.00	0.54	(0.79)	2.43
PNRNX	0.64	0.12	(0.03)	(0.73)	0.93	(0.65)	1.78	(1.45)	4.90
PWLBX	0.42	(0.12)	0.00	(1.09)	0.00	0.00	0.65	(0.90)	4.30
PWLMX	0.35	(0.06)	0.00	(0.62)	0.00	0.00	0.54	(0.67)	2.40
PWLIX	0.38	(0.06)	0.00	(0.55)	0.00	0.00	0.66	(0.79)	2.54
PNYIX	0.15	(0.01)	0.00	0.44	0.00	0.00	0.38	(0.29)	1.06
PNYNX	0.15	(0.01)	0.00	0.45	0.00	0.00	0.38	(0.38)	1.06
PNYPX	0.15	(0.01)	0.00	0.51	0.00	0.00	0.38	(0.38)	1.06
PNYAX	0.15	(0.01)	0.00	0.42	0.00	0.00	0.38	(0.38)	1.06

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