Pimco Credit Correlations

Mutual Funds USA . 
Fund . Pimco Credit Absolute
PCARX Fund  USD 9.70  0.01  0.10%   
The current 90-days correlation between Pimco Credit Absolute and Intermediate Term Bond Fund is 0.42 (i.e., Very weak diversification). The correlation of Pimco Credit 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 Credit Correlation With Market

Modest diversification

The correlation between Pimco Credit Absolute and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Credit Absolute 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 Credit Absolute. 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 Pimco Mutual Fund

  0.82PWLEX Pimco Rae WorldwidePairCorr
  0.86PWLBX Pimco Rae WorldwidePairCorr
  0.86PWLMX Pimco Rae WorldwidePairCorr
  0.86PWLIX Pimco Rae WorldwidePairCorr
  0.92PFCJX Pimco Preferred AndPairCorr
  0.81PFATX Pimco FundamentalPairCorr
  0.94PFANX Pimco Capital SecPairCorr
  0.77PFGAX Long Term GovernmentPairCorr
  0.76PFGCX Long Term GovernmentPairCorr
  0.82PFIAX Pimco Floating IncomePairCorr
  0.81PFIIX Pimco Floating IncomePairCorr
  0.81PFIUX Pimco Unconstrained BondPairCorr
  0.94PFINX Pimco Capital SecPairCorr
  0.87PFMIX Municipal BondPairCorr
  0.82PFNCX Pimco Floating IncomePairCorr
  0.94PFNNX Pimco Preferred AndPairCorr
  0.82PFNIX Pimco Low DurationPairCorr
  0.81PFNUX Pimco Dynamic BondPairCorr
  0.7PFRCX Foreign BondPairCorr
  0.81PFRMX Pimco Inflation ResponsePairCorr
  0.94PFPNX Pimco Capital SecPairCorr
  0.75PFTCX Short Term FundPairCorr
  0.82PFTPX Pimco Floating IncomePairCorr
  0.8PFSIX Pimco Emerging MarketsPairCorr
  0.72PFUUX Pimco Foreign BondPairCorr
  0.72PFUAX Foreign BondPairCorr
  0.72PFUIX Foreign BondPairCorr
  0.72PFUNX Pimco International BondPairCorr
  0.72PFUPX Pimco Foreign BondPairCorr
  0.76PGAPX Pimco Global MultiPairCorr
  0.82PGBIX Global Bond FundPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Pimco Mutual Fund performing well and Pimco Credit 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 Credit'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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