Pimco High Correlations

Mutual Funds . USA . 
Fund . Pimco High Yield
PHSIX Fund  USD 9.23  0.01  0.11%   
The current 90-days correlation between Pimco High Yield and Pimco Short Asset is 0.68 (i.e., Poor diversification). The correlation of Pimco High 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 High Correlation With Market

Good diversification

The correlation between Pimco High Yield and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco High Yield 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 High Yield. 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 gross domestic product.

Moving together with Pimco Mutual Fund

  0.84PFBPX Pimco Foreign BondPairCorr
  0.94PFCJX Pimco Preferred AndPairCorr
  0.95PFANX Pimco Capital SecPairCorr
  0.83PFIAX Pimco Floating IncomePairCorr
  0.88PFIIX Pimco Floating IncomePairCorr
  0.98PFIUX Pimco Unconstrained BondPairCorr
  0.95PFINX Pimco Capital SecPairCorr
  0.79PFNCX Pimco Floating IncomePairCorr
  0.84PFONX Pimco International BondPairCorr
  0.84PFORX Pimco Foreign BondPairCorr
  0.95PFNNX Pimco Preferred AndPairCorr
  0.78PFNIX Pimco Low DurationPairCorr
  0.98PFNUX Pimco Dynamic BondPairCorr
  0.85PFOAX Pimco Foreign BondPairCorr
  0.79PFOCX Pimco Foreign BondPairCorr
  0.84PFRAX Pimco Foreign BondPairCorr
  0.94PFPNX Pimco Capital SecPairCorr
  0.83PFTCX Short Term FundPairCorr
  0.78PFTPX Pimco Floating IncomePairCorr
  0.82PFRRX Pimco Foreign BondPairCorr
  0.66PGAPX Pimco Global MultiPairCorr
  0.68PXTIX Fundamental IndexplusPairCorr
  0.68PXTNX Pimco Rae PlusPairCorr

Moving against Pimco Mutual Fund

  0.49PFGCX Long Term GovernmentPairCorr
  0.48PFGAX Long Term GovernmentPairCorr
  0.47PGOVX Long Term GovernmentPairCorr

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   
PIGIX
+ 0.96
PLRIX
PCLIX
+ 0.66
PEFIX
PCLIX
+ 0.42
PAIDX
PIGIX
+ 0.31
PEFIX
PLRIX
+ 0.22
PEFIX
  
High negative correlations   
PLRIX
- 0.71
PAIDX
PIGIX
- 0.52
PAIDX
PCLIX
- 0.41
PLRIX
PIGIX
- 0.29
PCLIX
PEFIX
- 0.08
PAIDX

Risk-Adjusted Indicators

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