Gnma Fund Correlations

Mutual Funds . USA . 
Fund . Gnma Fund Institutional
PDMIX Fund  USD 9.33  0.04  0.43%   
The current 90-days correlation between Gnma Fund Institutional and T Rowe Price is 0.29 (i.e., Modest diversification). The correlation of Gnma Fund 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.

Gnma Fund Correlation With Market

Average diversification

The correlation between Gnma Fund Institutional and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gnma Fund Institutional 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 Gnma Fund Institutional. 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 gross domestic product.

Moving together with Gnma Mutual Fund

  0.96PWLEX Pimco Rae WorldwidePairCorr
  0.96PWLBX Pimco Rae WorldwidePairCorr
  0.96PWLMX Pimco Rae WorldwidePairCorr
  0.96PWLIX Pimco Rae WorldwidePairCorr
  0.73PFCJX Pimco Preferred AndPairCorr
  0.86PFATX Pimco FundamentalPairCorr
  0.75PFANX Pimco Capital SecPairCorr
  0.97PFGAX Long Term GovernmentPairCorr
  0.97PFGCX Long Term GovernmentPairCorr
  0.95PFIAX Pimco Floating IncomePairCorr
  0.95PFIIX Pimco Floating IncomePairCorr
  0.97PFIUX Pimco Unconstrained BondPairCorr
  0.75PFINX Pimco Capital SecPairCorr
  0.86PFMIX Municipal BondPairCorr
  0.96PFNCX Pimco Floating IncomePairCorr
  0.74PFNNX Pimco Preferred AndPairCorr
  0.95PFNIX Pimco Low DurationPairCorr
  0.97PFNUX Pimco Dynamic BondPairCorr
  0.92PFRCX Foreign BondPairCorr
  0.92PFRMX Pimco Inflation ResponsePairCorr
  0.74PFPNX Pimco Capital SecPairCorr
  0.85PFTCX Short Term FundPairCorr
  0.95PFTPX Pimco Floating IncomePairCorr
  0.96PFSIX Pimco Emerging MarketsPairCorr
  0.93PFUUX Pimco Foreign BondPairCorr
  0.93PFUAX Foreign BondPairCorr
  0.94PFUIX Foreign BondPairCorr
  0.93PFUNX Pimco International BondPairCorr
  0.93PFUPX Pimco Foreign BondPairCorr
  0.65PGAPX Pimco Global MultiPairCorr
  0.97PGBIX Global Bond FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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