Moderate Duration Correlations

Mutual Funds . USA . 
Fund . Moderate Duration Fund
PMDRX Fund  USD 9.35  0.01  0.11%   
The current 90-days correlation between Moderate Duration and Ab Municipal Bond is 0.12 (i.e., Average diversification). The correlation of Moderate 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.

Moderate Duration Correlation With Market

Significant diversification

The correlation between Moderate Duration Fund and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Moderate 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 Moderate 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 metropolitan statistical area.

Moving together with Moderate Mutual Fund

  0.91PFBPX Pimco Foreign BondPairCorr
  0.86PFCJX Pimco Preferred AndPairCorr
  0.85PFANX Pimco Capital SecPairCorr
  0.91PFIAX Pimco Floating IncomePairCorr
  0.94PFIIX Pimco Floating IncomePairCorr
  0.96PFIUX Pimco Unconstrained BondPairCorr
  0.86PFINX Pimco Capital SecPairCorr
  0.91PFNCX Pimco Floating IncomePairCorr
  0.95PFONX Pimco International BondPairCorr
  0.95PFORX Pimco Foreign BondPairCorr
  0.86PFNNX Pimco Preferred AndPairCorr
  0.9PFNIX Pimco Low DurationPairCorr
  0.96PFNUX Pimco Dynamic BondPairCorr
  0.9PFOAX Pimco Foreign BondPairCorr
  0.9PFOCX Pimco Foreign BondPairCorr
  0.86PFRCX Foreign BondPairCorr
  0.93PFRAX Pimco Foreign BondPairCorr
  0.9PFRMX Pimco Inflation ResponsePairCorr
  0.77PFTCX Short Term FundPairCorr
  0.94PFTPX Pimco Floating IncomePairCorr
  0.94PFRRX Pimco Foreign BondPairCorr
  0.89PFSIX Pimco Emerging MarketsPairCorr
  0.91PFUUX Pimco Foreign BondPairCorr
  0.87PFUAX Foreign BondPairCorr
  0.91PFUIX Foreign BondPairCorr
  0.88PFUNX Pimco International BondPairCorr
  0.91PFUPX Pimco Foreign BondPairCorr
  0.8PGAPX Pimco Global MultiPairCorr
  0.8PXTIX Fundamental IndexplusPairCorr
  0.8PXTNX Pimco Rae PlusPairCorr
  0.97PGBIX Global Bond FundPairCorr
  0.8PGAIX Pimco Global MultiPairCorr

Moving against Moderate Mutual Fund

  0.8PWLBX Pimco Rae WorldwidePairCorr
  0.51PWLEX Pimco Rae WorldwidePairCorr
  0.45PWLMX Pimco Rae WorldwidePairCorr
  0.43PWLIX Pimco Rae WorldwidePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Moderate Mutual Fund performing well and Moderate 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 Moderate 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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