PIMCO Intermediate Correlations

MUNI Etf

USD 51.36 0.21 0.41%

The current 90-days correlation between PIMCO Intermediate and PIMCO Short Term is 0.61 (i.e., Poor diversification). The correlation of PIMCO Intermediate 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.

PIMCO Intermediate Correlation With Market

Modest diversification

The correlation between PIMCO Intermediate Municipal and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PIMCO Intermediate Municipal and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in PIMCO Intermediate Municipal. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with PIMCO Etf

0.92	MUB	iShares National Muni	Pair Corr
0.93	VTEB	Vanguard Tax Exempt	Pair Corr
0.97	FMB	First Trust Managed	Pair Corr
0.92	ITM	VanEck Intermediate Muni	Pair Corr
0.98	MMIT	IQ MacKay Municipal	Pair Corr
0.98	HMOP	Hartford Municipal	Pair Corr
0.84	TAXF	American Century Div	Pair Corr
0.99	JMUB	JPMorgan Municipal	Pair Corr
0.88	MUST	Columbia Multi Sector	Pair Corr
0.97	MINO	PIMCO ETF Trust	Pair Corr
0.78	FXY	Invesco CurrencyShares	Pair Corr
0.78	PMBS	PIMCO Mortgage Backed	Pair Corr
0.79	JNJ	Johnson Johnson	Pair Corr
0.64	GE	GE Aerospace	Pair Corr
0.7	VZ	Verizon Communications	Pair Corr
0.79	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.79	PG	Procter Gamble	Pair Corr
0.62	MMM	3M Company	Pair Corr
0.78	T	ATT Inc Aggressive Push	Pair Corr
0.69	MCD	McDonalds	Pair Corr

Moving against PIMCO Etf

0.54	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.68	AA	Alcoa Corp	Pair Corr
0.56	MRK	Merck Company	Pair Corr
0.5	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	SMMU	ITM	MLN	SMB	SHM
SMMU		0.72	0.29	0.97	0.98	SMMU
ITM	0.72		0.8	0.71	0.73	ITM
MLN	0.29	0.8		0.3	0.32	MLN
SMB	0.97	0.71	0.3		0.98	SMB
SHM	0.98	0.73	0.32	0.98		SHM
	SMMU	ITM	MLN	SMB	SHM

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PIMCO Intermediate Constituents Risk-Adjusted Indicators

There is a big difference between PIMCO Etf performing well and PIMCO Intermediate ETF 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 Intermediate'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
SMMU	0.08	0.00	0.01	0.30	0.07	(0.08)	0.18	(0.12)	0.44
ITM	0.20	(0.02)	0.00	(1.83)	0.00	0.00	0.42	(0.39)	0.87
MLN	0.32	(0.04)	0.00	(0.47)	0.00	0.00	0.57	(0.68)	1.53
SMB	0.09	0.00	0.01	(0.03)	0.08	(0.10)	0.18	(0.18)	0.70
SHM	0.08	0.00	0.01	(0.58)	0.03	(0.10)	0.19	(0.15)	0.42

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