Low Duration Correlations

Mutual Funds . USA . 
Fund . Low Duration Fund
PLDTX Fund  USD 9.31  0.01  0.11%   
The current 90-days correlation between Low Duration and American Funds Tax Exempt is 0.27 (i.e., Modest diversification). The correlation of Low Duration 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.

Low Duration Correlation With Market

Good diversification

The correlation between Low Duration Fund and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Low Duration 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 Low Duration 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 estimate.

Moving together with Low Mutual Fund

  0.8PFCJX Pimco Preferred AndPairCorr
  0.86PFANX Pimco Capital SecPairCorr
  0.95PFIAX Pimco Floating IncomePairCorr
  0.63PFIIX Pimco Floating IncomePairCorr
  0.97PFIUX Pimco Unconstrained BondPairCorr
  0.62PFNCX Pimco Floating IncomePairCorr
  0.93PFONX Pimco International BondPairCorr
  0.87PFORX Pimco Foreign BondPairCorr
  0.86PFNNX Pimco Preferred AndPairCorr
  0.9PFNUX Pimco Dynamic BondPairCorr
  0.91PFOAX Pimco Foreign BondPairCorr
  0.86PFOCX Pimco Foreign BondPairCorr
  0.88PFRCX Foreign BondPairCorr
  0.85PFRAX Pimco Foreign BondPairCorr
  0.89PFRMX Pimco Inflation ResponsePairCorr
  0.81PFTCX Short Term FundPairCorr
  0.95PFTPX Pimco Floating IncomePairCorr
  0.7PFRRX Pimco Foreign BondPairCorr
  0.61PFSIX Pimco Emerging MarketsPairCorr
  0.89PFUUX Pimco Foreign BondPairCorr
  0.74PFUAX Foreign BondPairCorr
  0.75PFUIX Foreign BondPairCorr
  0.89PFUNX Pimco International BondPairCorr
  0.82PFUPX Pimco Foreign BondPairCorr
  0.72PGAPX Pimco Global MultiPairCorr
  0.74PXTIX Fundamental IndexplusPairCorr
  0.79PXTNX Pimco Rae PlusPairCorr
  0.9PGBIX Global Bond FundPairCorr
  0.79PGAIX Pimco Global MultiPairCorr
  0.97PGCAX Investment Grade PoratePairCorr
  0.79PGMAX Pimco Global MultiPairCorr

Moving against Low Mutual Fund

  0.75PWLBX Pimco Rae WorldwidePairCorr
  0.31PWLEX Pimco Rae WorldwidePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Low Mutual Fund performing well and Low Duration 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 Low Duration'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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