Total Return Correlations

PMBIX Fund

USD 8.51 0.01 0.12%

The current 90-days correlation between Total Return and Meridian Trarian Fund is 0.14 (i.e., Average diversification). The correlation of Total Return 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.

Total Return Correlation With Market

Average diversification

The correlation between Total Return Fund and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Total Return 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 Total Return 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 gross domestic product.

Moving together with Total Mutual Fund

0.85	PFBPX	Pimco Foreign Bond	Pair Corr
0.88	PFCJX	Pimco Preferred And	Pair Corr
0.7	PFATX	Pimco Fundamental	Pair Corr
0.89	PFANX	Pimco Capital Sec	Pair Corr
0.94	PFGAX	Long Term Government	Pair Corr
0.94	PFGCX	Long Term Government	Pair Corr
0.95	PFIAX	Pimco Floating Income	Pair Corr
0.96	PFIIX	Pimco Floating Income	Pair Corr
0.97	PFIUX	Pimco Unconstrained Bond	Pair Corr
0.91	PFINX	Pimco Capital Sec	Pair Corr
0.88	PFMIX	Municipal Bond	Pair Corr
0.83	PFNCX	Pimco Floating Income	Pair Corr
0.73	PFONX	Pimco International Bond	Pair Corr
0.87	PFORX	Pimco Foreign Bond	Pair Corr
0.73	PFNNX	Pimco Preferred And	Pair Corr
0.82	PFNIX	Pimco Low Duration	Pair Corr
0.86	PFNUX	Pimco Dynamic Bond	Pair Corr
0.88	PFOAX	Pimco Foreign Bond	Pair Corr
0.66	PFOCX	Pimco Foreign Bond	Pair Corr
0.82	PFRAX	Pimco Foreign Bond	Pair Corr
0.87	PFRMX	Pimco Inflation Response	Pair Corr
0.76	PFPNX	Pimco Capital Sec	Pair Corr
0.81	PFTCX	Short Term Fund	Pair Corr
0.82	PFTPX	Pimco Floating Income	Pair Corr
0.8	PFRRX	Pimco Foreign Bond	Pair Corr
0.81	PFSIX	Pimco Emerging Markets	Pair Corr
0.71	PGAPX	Pimco Global Multi	Pair Corr
0.73	PXTIX	Fundamental Indexplus	Pair Corr
0.82	PXTNX	Pimco Rae Plus	Pair Corr
0.84	PGBIX	Global Bond Fund	Pair Corr

Moving against Total Mutual Fund

0.6	PWLMX	Pimco Rae Worldwide	Pair Corr
0.6	PWLIX	Pimco Rae Worldwide	Pair Corr
0.57	PWLEX	Pimco Rae Worldwide	Pair Corr
0.41	PWLBX	Pimco Rae Worldwide	Pair Corr

Related Correlations Analysis

	MFCAX	GMLGX	AAIEX	FNIDX	DGIFX	OISVX	NMCO	MXXIX	IFN
MFCAX		0.8	0.78	0.79	0.77	0.05	0.81	0.41	-0.1	MFCAX
GMLGX	0.8		0.81	0.7	0.84	0.48	0.88	0.67	-0.17	GMLGX
AAIEX	0.78	0.81		0.72	0.72	0.24	0.71	0.54	0.09	AAIEX
FNIDX	0.79	0.7	0.72		0.85	-0.03	0.76	0.52	-0.11	FNIDX
DGIFX	0.77	0.84	0.72	0.85		0.39	0.84	0.63	-0.12	DGIFX
OISVX	0.05	0.48	0.24	-0.03	0.39		0.25	0.45	-0.01	OISVX
NMCO	0.81	0.88	0.71	0.76	0.84	0.25		0.68	-0.32	NMCO
MXXIX	0.41	0.67	0.54	0.52	0.63	0.45	0.68		-0.51	MXXIX
IFN	-0.1	-0.17	0.09	-0.11	-0.12	-0.01	-0.32	-0.51		IFN
	MFCAX	GMLGX	AAIEX	FNIDX	DGIFX	OISVX	NMCO	MXXIX	IFN

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

NMCO	+ 0.88	GMLGX
DGIFX	+ 0.85	FNIDX
DGIFX	+ 0.84	GMLGX
NMCO	+ 0.84	DGIFX
NMCO	+ 0.81	MFCAX
AAIEX	+ 0.81	GMLGX

High negative correlations

IFN	- 0.51	MXXIX
IFN	- 0.32	NMCO
IFN	- 0.17	GMLGX
IFN	- 0.12	DGIFX
IFN	- 0.11	FNIDX
IFN	- 0.1	MFCAX

Risk-Adjusted Indicators

There is a big difference between Total Mutual Fund performing well and Total Return 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 Total Return'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
MFCAX	0.87	0.16	0.06	(1.53)	0.83	(0.97)	2.06	(1.29)	5.74
GMLGX	0.52	(0.02)	(0.02)	0.07	0.60	(0.58)	1.11	(0.92)	4.57
AAIEX	0.56	(0.01)	(0.04)	0.08	0.65	(0.55)	1.15	(1.03)	3.61
FNIDX	0.54	0.13	0.05	(2.73)	0.58	(0.60)	1.06	(0.78)	4.32
DGIFX	0.78	(0.07)	(0.05)	0.03	0.90	(0.88)	1.87	(1.38)	5.82
OISVX	0.72	(0.11)	(0.09)	0.01	0.83	(0.90)	1.87	(1.03)	6.29
NMCO	0.46	0.10	0.08	0.36	0.28	(0.54)	1.21	(0.74)	2.94
MXXIX	0.82	(0.12)	0.00	(0.01)	0.00	0.00	1.26	(1.49)	4.91
IFN	0.58	0.00	0.00	0.08	0.00	0.00	1.21	(0.97)	3.38

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