Pimco Rae Correlations

Mutual Funds . USA . 
Fund . Pimco Rae Fundamental
PMJAX Fund  USD 10.48  0.12  1.16%   
The current 90-days correlation between Pimco Rae Fundamental and T Rowe Price is 0.87 (i.e., Very poor diversification). The correlation of Pimco Rae 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 Rae Correlation With Market

Good diversification

The correlation between Pimco Rae Fundamental and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Rae Fundamental 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 Rae Fundamental. 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 nation.

Moving together with Pimco Mutual Fund

  0.69PFBPX Pimco Foreign BondPairCorr
  0.91PFCJX Pimco Preferred AndPairCorr
  0.91PFANX Pimco Capital SecPairCorr
  0.83PFIAX Pimco Floating IncomePairCorr
  0.81PFIIX Pimco Floating IncomePairCorr
  0.78PFIUX Pimco Unconstrained BondPairCorr
  0.89PFINX Pimco Capital SecPairCorr
  0.81PFNCX Pimco Floating IncomePairCorr
  0.63PFONX Pimco International BondPairCorr
  0.63PFORX Pimco Foreign BondPairCorr
  0.89PFNNX Pimco Preferred AndPairCorr
  0.85PFNIX Pimco Low DurationPairCorr
  0.78PFNUX Pimco Dynamic BondPairCorr
  0.66PFOAX Pimco Foreign BondPairCorr
  0.65PFOCX Pimco Foreign BondPairCorr
  0.78PFRMX Pimco Inflation ResponsePairCorr
  0.89PFPNX Pimco Capital SecPairCorr
  0.86PFTCX Short Term FundPairCorr
  0.85PFTPX Pimco Floating IncomePairCorr
  0.65PFRRX Pimco Foreign BondPairCorr
  0.86PFSIX Pimco Emerging MarketsPairCorr
  0.91PGAPX Pimco Global MultiPairCorr
  0.93PXTIX Fundamental IndexplusPairCorr
  0.96PXTNX Pimco Rae PlusPairCorr
  0.76PGBIX Global Bond FundPairCorr

Moving against Pimco Mutual Fund

  0.61PWLBX Pimco Rae WorldwidePairCorr
  0.47PWLEX Pimco Rae WorldwidePairCorr
  0.41PWLMX Pimco Rae WorldwidePairCorr
  0.41PWLIX 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 Rae 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 Rae'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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