Foreign Bond Correlations

PFUAX Fund

USD 7.96 0.02 0.25%

The current 90-days correlation between Foreign Bond and Ashmore Emerging Markets is -0.04 (i.e., Good 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

Very good diversification

The correlation between Foreign Bond Fund and DJI is -0.24 (i.e., Very 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 nation.

Moving together with Foreign Mutual Fund

0.84	PFBPX	Pimco Foreign Bond	Pair Corr
0.84	PFONX	Pimco International Bond	Pair Corr
0.84	PFORX	Pimco Foreign Bond	Pair Corr
0.79	PFOAX	Pimco Foreign Bond	Pair Corr
0.82	PFOCX	Pimco Foreign Bond	Pair Corr
1.0	PFRCX	Foreign Bond	Pair Corr
0.84	PFRAX	Pimco Foreign Bond	Pair Corr
0.62	PFRMX	Pimco Inflation Response	Pair Corr
0.66	PFTCX	Short Term Fund	Pair Corr
0.83	PFRRX	Pimco Foreign Bond	Pair Corr
0.81	PFSIX	Pimco Emerging Markets	Pair Corr
1.0	PFUUX	Pimco Foreign Bond	Pair Corr
1.0	PFUIX	Foreign Bond	Pair Corr
1.0	PFUNX	Pimco International Bond	Pair Corr
1.0	PFUPX	Pimco Foreign Bond	Pair Corr

Moving against Foreign Mutual Fund

0.58	PWLBX	Pimco Rae Worldwide	Pair Corr
0.56	PFATX	Pimco Fundamental	Pair Corr
0.44	PWLEX	Pimco Rae Worldwide	Pair Corr
0.43	PFGAX	Long Term Government	Pair Corr
0.42	PWLMX	Pimco Rae Worldwide	Pair Corr
0.4	PWLIX	Pimco Rae Worldwide	Pair Corr
0.39	PFGCX	Long Term Government	Pair Corr
0.41	PYMAX	Pimco High Yield	Pair Corr
0.36	PGOVX	Long Term Government	Pair Corr
0.33	PYMCX	Pimco High Yield	Pair Corr

Related Correlations Analysis

	ESSCX	TASVX	APSRX	TRVHX	SPRAX	RYDCX
ESSCX		0.92	0.92	0.92	0.91	0.91	ESSCX
TASVX	0.92		0.91	0.96	0.93	0.99	TASVX
APSRX	0.92	0.91		0.94	0.98	0.91	APSRX
TRVHX	0.92	0.96	0.94		0.93	0.97	TRVHX
SPRAX	0.91	0.93	0.98	0.93		0.91	SPRAX
RYDCX	0.91	0.99	0.91	0.97	0.91		RYDCX
	ESSCX	TASVX	APSRX	TRVHX	SPRAX	RYDCX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ESSCX	0.98	0.16	0.08	0.28	1.48	(0.95)	2.62	(1.98)	7.05
TASVX	1.18	0.02	0.01	0.06	1.81	(1.22)	2.50	(2.69)	11.82
APSRX	1.22	0.05	0.00	(0.31)	2.06	(1.14)	2.59	(2.66)	14.26
TRVHX	0.96	0.01	(0.01)	0.06	1.72	(0.98)	2.03	(2.31)	7.18
SPRAX	1.10	0.06	0.01	(0.60)	1.70	(1.24)	1.98	(2.28)	11.66
RYDCX	1.74	0.00	0.01	0.05	2.83	(1.77)	3.59	(3.99)	20.05

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