Pimco Small Correlations

PCKAX Fund

USD 7.95 0.06 0.75%

The current 90-days correlation between Pimco Small Cap and Gnma Fund A is 0.18 (i.e., Average diversification). The correlation of Pimco Small 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 Small Correlation With Market

Very poor diversification

The correlation between Pimco Small Cap and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Small Cap 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 Small Cap. 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

0.67	PFBPX	Pimco Foreign Bond	Pair Corr
0.65	PFIIX	Pimco Floating Income	Pair Corr
0.83	PFIUX	Pimco Unconstrained Bond	Pair Corr
0.68	PFONX	Pimco International Bond	Pair Corr
0.67	PFORX	Pimco Foreign Bond	Pair Corr
0.83	PFNUX	Pimco Dynamic Bond	Pair Corr
0.64	PFOAX	Pimco Foreign Bond	Pair Corr
0.62	PFOCX	Pimco Foreign Bond	Pair Corr
0.67	PFRAX	Pimco Foreign Bond	Pair Corr
0.79	PFTCX	Short Term Fund	Pair Corr
0.62	PFTPX	Pimco Floating Income	Pair Corr
0.68	PFRRX	Pimco Foreign Bond	Pair Corr
0.68	PGAPX	Pimco Global Multi	Pair Corr
0.84	PXTIX	Fundamental Indexplus	Pair Corr
0.85	PXTNX	Pimco Rae Plus	Pair Corr

Moving against Pimco Mutual Fund

0.48	PFGAX	Long Term Government	Pair Corr
0.48	PFGCX	Long Term Government	Pair Corr
0.43	PFATX	Pimco Fundamental	Pair Corr
0.63	PFUAX	Foreign Bond	Pair Corr
0.61	PFUIX	Foreign Bond	Pair Corr
0.59	PFRCX	Foreign Bond	Pair Corr
0.57	PFSIX	Pimco Emerging Markets	Pair Corr
0.57	PFUUX	Pimco Foreign Bond	Pair Corr
0.5	PFRMX	Pimco Inflation Response	Pair Corr
0.61	PFUNX	Pimco International Bond	Pair Corr
0.61	PFUPX	Pimco Foreign Bond	Pair Corr
0.48	PGOVX	Long Term Government	Pair Corr
0.4	PGCAX	Investment Grade Porate	Pair Corr
0.39	PGSAX	Pimco Global Advantage	Pair Corr

Related Correlations Analysis

	PAGNX	NREAX	GIPAX	PIXAX	PIPAX
PAGNX		0.64	0.33	-0.23	0.12	PAGNX
NREAX	0.64		0.13	-0.14	-0.11	NREAX
GIPAX	0.33	0.13		0.68	0.74	GIPAX
PIXAX	-0.23	-0.14	0.68		0.51	PIXAX
PIPAX	0.12	-0.11	0.74	0.51		PIPAX
	PAGNX	NREAX	GIPAX	PIXAX	PIPAX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

PIPAX	+ 0.74	GIPAX
PIXAX	+ 0.68	GIPAX
NREAX	+ 0.64	PAGNX
PIPAX	+ 0.51	PIXAX
GIPAX	+ 0.33	PAGNX
GIPAX	+ 0.13	NREAX

High negative correlations

PIXAX	- 0.23	PAGNX
PIXAX	- 0.14	NREAX
PIPAX	- 0.11	NREAX

Risk-Adjusted Indicators

There is a big difference between Pimco Mutual Fund performing well and Pimco Small 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 Small'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
PAGNX	0.23	(0.06)	0.00	(1.64)	0.00	0.00	0.32	(0.53)	1.40
NREAX	0.71	(0.08)	0.00	(0.98)	0.00	0.00	1.28	(1.49)	3.70
GIPAX	0.25	(0.01)	(0.20)	0.06	0.22	(0.35)	0.80	(0.56)	1.54
PIXAX	0.59	(0.02)	(0.04)	0.07	0.56	(0.68)	1.32	(1.06)	4.26
PIPAX	0.48	0.02	(0.07)	0.16	0.52	(0.52)	0.91	(0.89)	2.73

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