Pimco Income Correlations

PIINX Fund  USD 10.69  0.02  0.19%   
The current 90-days correlation between Pimco Income and Invesco Diversified Dividend is 0.29 (i.e., Modest diversification). The correlation of Pimco Income 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 Income Correlation With Market

Modest diversification

The correlation between Pimco Income Fund and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Income 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 Pimco Income 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 board of governors.

Moving together with Pimco Mutual Fund

  0.65PFBPX Pimco Foreign BondPairCorr
  0.83PFCJX Pimco Preferred AndPairCorr
  0.92PFANX Pimco Capital SecPairCorr
  0.72PFIAX Pimco Floating IncomePairCorr
  0.77PFIIX Pimco Floating IncomePairCorr
  0.78PFIUX Pimco Unconstrained BondPairCorr
  0.63PFINX Pimco Capital SecPairCorr
  0.77PFNCX Pimco Floating IncomePairCorr
  0.72PFONX Pimco International BondPairCorr
  0.73PFORX Pimco Foreign BondPairCorr
  0.64PFNNX Pimco Preferred AndPairCorr
  0.7PFNIX Pimco Low DurationPairCorr
  0.78PFNUX Pimco Dynamic BondPairCorr
  0.66PFOAX Pimco Foreign BondPairCorr
  0.63PFOCX Pimco Foreign BondPairCorr
  0.74PFRCX Foreign BondPairCorr
  0.73PFRAX Pimco Foreign BondPairCorr
  0.94PFRMX Pimco Inflation ResponsePairCorr
  0.63PFPNX Pimco Capital SecPairCorr
  0.61PFTCX Short Term FundPairCorr
  0.7PFTPX Pimco Floating IncomePairCorr
  0.64PFRRX Pimco Foreign BondPairCorr
  0.67PFSIX Pimco Emerging MarketsPairCorr
  0.71PFUUX Pimco Foreign BondPairCorr
  0.76PFUAX Foreign BondPairCorr
  0.71PFUIX Foreign BondPairCorr
  0.71PFUNX Pimco International BondPairCorr
  0.71PFUPX Pimco Foreign BondPairCorr
  0.99PGBIX Global Bond FundPairCorr
  0.98PGCAX Investment Grade PoratePairCorr

Moving against Pimco Mutual Fund

  0.79PWLBX Pimco Rae WorldwidePairCorr
  0.5PWLEX Pimco Rae WorldwidePairCorr
  0.44PWLMX Pimco Rae WorldwidePairCorr
  0.42PWLIX Pimco Rae WorldwidePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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