Pimco California Correlations

PCK Fund

USD 5.73 0.07 1.21%

The current 90-days correlation between Pimco California Mun and Pimco California Municipal is 0.72 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Pimco California moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pimco California Municipal moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Pimco California Correlation With Market

Modest diversification

The correlation between Pimco California Municipal and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco California Municipal 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 California Municipal. Also, note that the market value of any otc fund could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Pimco OTC Fund

0.65	RIV	Rivernorth Opportunities	Pair Corr
0.8	T	ATT Inc Aggressive Push	Pair Corr
0.77	IBM	International Business	Pair Corr
0.78	KO	Coca Cola Sell-off Trend	Pair Corr
0.75	CSCO	Cisco Systems	Pair Corr
0.7	VZ	Verizon Communications Sell-off Trend	Pair Corr

Moving against Pimco OTC Fund

0.64	AA	Alcoa Corp	Pair Corr
0.64	MRK	Merck Company	Pair Corr
0.62	CAT	Caterpillar	Pair Corr
0.6	MSFT	Microsoft Aggressive Push	Pair Corr
0.35	ETJ	Eaton Vance Risk	Pair Corr
0.34	CRF	Cornerstone Strategic	Pair Corr

Related Correlations Analysis

	PCQ	NKX	EVM	VCV	PZC	PMX	MCR	MUC	PAI	NQP
PCQ		0.54	0.42	0.58	0.87	0.86	0.68	0.82	0.52	0.8	PCQ
NKX	0.54		0.68	0.51	0.38	0.62	0.68	0.75	0.68	0.8	NKX
EVM	0.42	0.68		0.65	0.24	0.67	0.79	0.74	0.59	0.77	EVM
VCV	0.58	0.51	0.65		0.56	0.72	0.79	0.65	0.38	0.66	VCV
PZC	0.87	0.38	0.24	0.56		0.77	0.49	0.59	0.3	0.56	PZC
PMX	0.86	0.62	0.67	0.72	0.77		0.83	0.88	0.58	0.87	PMX
MCR	0.68	0.68	0.79	0.79	0.49	0.83		0.86	0.58	0.88	MCR
MUC	0.82	0.75	0.74	0.65	0.59	0.88	0.86		0.72	0.97	MUC
PAI	0.52	0.68	0.59	0.38	0.3	0.58	0.58	0.72		0.75	PAI
NQP	0.8	0.8	0.77	0.66	0.56	0.87	0.88	0.97	0.75		NQP
	PCQ	NKX	EVM	VCV	PZC	PMX	MCR	MUC	PAI	NQP

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

Risk-Adjusted Indicators

There is a big difference between Pimco OTC Fund performing well and Pimco California OTC 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 California'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
PCQ	0.51	(0.05)	0.00	(0.26)	0.00	0.00	0.99	(1.29)	3.02
NKX	0.65	0.00	0.00	0.02	0.92	(0.66)	1.45	(1.34)	4.07
EVM	0.41	0.01	0.01	0.08	0.47	(0.48)	0.86	(0.76)	3.26
VCV	0.56	0.06	0.07	0.50	0.71	(0.61)	1.52	(1.18)	4.27
PZC	0.51	(0.05)	0.00	(0.21)	0.00	0.00	1.04	(1.62)	5.03
PMX	0.48	(0.03)	0.00	(0.17)	0.00	0.00	1.08	(1.10)	3.03
MCR	0.39	0.00	0.00	(0.06)	0.51	(0.48)	0.66	(0.94)	3.88
MUC	0.41	(0.01)	0.00	(0.07)	0.00	0.00	0.86	(0.83)	2.08
PAI	0.57	0.05	0.06	0.24	0.65	(0.63)	1.28	(1.06)	3.74
NQP	0.51	(0.01)	0.00	(0.12)	0.00	0.00	0.86	(1.09)	3.10

Be your own money manager

Our tools can tell you how much better you can do entering a position in Pimco California without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

Did you try this?

Run Stock Screener Now

Stock Screener

Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook.

All Next

Launch Module

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC