Pimco High Correlations

Mutual Funds . USA . 
Fund . Pimco High Yield
PHSPX Fund  USD 9.32  0.02  0.22%   
The current 90-days correlation between Pimco High Yield and Strategic Asset Management is 0.46 (i.e., Very weak 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 -0.16 (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 producer price index.

Moving together with Pimco Mutual Fund

  0.96SABPX Strategic Asset ManaPairCorr
  0.95SACAX Strategic Asset ManaPairCorr
  0.95SAGPX Strategic Asset ManaPairCorr
  0.98PFIJX Strategic Asset ManaPairCorr
  0.86PFIEX International EquityPairCorr
  0.97PFIFX Strategic Asset ManaPairCorr
  0.89PFISX International Small PanyPairCorr
  0.97PFIPX Strategic Asset ManaPairCorr
  0.97SAIPX Strategic Asset ManaPairCorr
  0.93PFLJX Principal Lifetime 2050PairCorr
  0.97SAUPX Strategic Asset ManaPairCorr
  0.98PFUMX Finisterre UnconstrainedPairCorr
  0.98PGBAX Global Diversified IncomePairCorr
  0.98PGBLX Global Diversified IncomePairCorr
  0.98PGDCX Global Diversified IncomePairCorr
  0.98PGDIX Global Diversified IncomePairCorr
  0.88PGDRX Diversified Real AssetPairCorr
  0.96PGLSX Global Multi StrategyPairCorr
  0.93STCCX Short Term IncomePairCorr
  0.89PGRTX Smallcap GrowthPairCorr
  0.71PGRUX Global Real EstatePairCorr
  0.7PGRKX Global Real EstatePairCorr
  0.96SCBPX Strategic Asset ManaPairCorr
  0.97SCIPX Strategic Asset ManaPairCorr
  0.95SCGPX Strategic Asset ManaPairCorr
  0.95PHJEX Principal Lifetime HybridPairCorr
  0.97PHJFX Principal Lifetime HybridPairCorr
  0.94PHJGX Principal Lifetime HybridPairCorr
  0.94PHJBX Principal Lifetime HybridPairCorr
  0.94PHJDX Principal Lifetime HybridPairCorr
  0.96PHJNX Principal Lifetime HybridPairCorr
  0.96PHJQX Principal Lifetime HybridPairCorr
  0.95PHJJX Principal Lifetime HybridPairCorr

Related Correlations Analysis


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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SABPX  0.29  0.04 (0.03)(0.27) 0.32 
(0.32)
 0.69 
(0.46)
 1.61 
SACAX  0.41  0.05 (0.02)(0.19) 0.54 
(0.44)
 0.96 
(0.61)
 2.12 
SAGPX  0.36  0.05 (0.02)(0.24) 0.43 
(0.39)
 0.84 
(0.52)
 1.87 
PFIJX  0.18  0.03 (0.07)(2.19) 0.00 
(0.23)
 0.40 
(0.32)
 1.04 
PFIEX  0.62  0.01  0.01  0.06  0.74 
(0.67)
 1.32 
(1.07)
 4.44 
PFIFX  0.18  0.03 (0.02) 0.19  0.00 
(0.24)
 0.40 
(0.31)
 1.27 
PFISX  0.60  0.01 (0.01) 0.06  0.78 
(0.62)
 1.12 
(1.18)
 4.01 
PFIPX  0.18  0.03 (0.03) 0.17  0.00 
(0.24)
 0.47 
(0.31)
 1.19 
SAIPX  0.21  0.03 (0.07)(0.55) 0.13 
(0.27)
 0.53 
(0.37)
 1.22 
PFLJX  0.44  0.02  0.02  0.07  0.52 
(0.46)
 1.18 
(0.68)
 3.92 

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