Pimco Dynamic Correlations

PDO Stock

USD 13.80 0.04 0.29%

The current 90-days correlation between Pimco Dynamic Income and Pimco Income Strategy is 0.37 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Pimco Dynamic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Pimco Dynamic Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Pimco Dynamic Correlation With Market

Significant diversification

The correlation between Pimco Dynamic Income and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Dynamic Income 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 Dynamic Income. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Pimco Stock

0.62	AU	AngloGold Ashanti plc	Pair Corr
0.63	DC	Dakota Gold Corp	Pair Corr
0.68	MP	MP Materials Corp	Pair Corr
0.67	MT	ArcelorMittal SA ADR	Pair Corr
0.63	VALE	Vale SA ADR	Pair Corr
0.63	WLKP	Westlake Chemical	Pair Corr
0.68	AEM	Agnico Eagle Mines	Pair Corr
0.66	AGI	Alamos Gold	Pair Corr

Moving against Pimco Stock

0.61	IE	Ivanhoe Electric	Pair Corr
0.56	AA	Alcoa Corp	Pair Corr
0.55	CE	Celanese	Pair Corr
0.55	FF	FutureFuel Corp	Pair Corr
0.49	CF	CF Industries Holdings	Pair Corr
0.45	HYMCW	Hycroft Mining Holding	Pair Corr
0.4	CC	Chemours	Pair Corr
0.68	FEAM	5E Advanced Materials	Pair Corr
0.66	CMT	Core Molding Technologies	Pair Corr
0.57	ASH	Ashland Global Holdings	Pair Corr
0.54	AMR	Alpha Metallurgical	Pair Corr
0.53	FMST	Foremost Lithium Resource	Pair Corr
0.53	CLW	Clearwater Paper	Pair Corr
0.52	ALB	Albemarle Corp	Pair Corr
0.46	ALB-PA	Albemarle	Pair Corr
0.45	DOW	Dow Inc	Pair Corr
0.4	BCC	Boise Cascad Llc	Pair Corr

Related Correlations Analysis

	PFN	MEGI	XFLT	PCN	PTY	GOF	RA	UTG	PDI	PHK
PFN		0.66	-0.51	0.93	0.82	0.91	0.63	0.34	0.95	0.92	PFN
MEGI	0.66		-0.79	0.58	0.35	0.77	0.36	0.3	0.74	0.73	MEGI
XFLT	-0.51	-0.79		-0.36	-0.18	-0.69	-0.1	0.03	-0.68	-0.51	XFLT
PCN	0.93	0.58	-0.36		0.9	0.84	0.82	0.57	0.86	0.89	PCN
PTY	0.82	0.35	-0.18	0.9		0.62	0.88	0.55	0.78	0.8	PTY
GOF	0.91	0.77	-0.69	0.84	0.62		0.47	0.23	0.92	0.85	GOF
RA	0.63	0.36	-0.1	0.82	0.88	0.47		0.73	0.6	0.69	RA
UTG	0.34	0.3	0.03	0.57	0.55	0.23	0.73		0.27	0.41	UTG
PDI	0.95	0.74	-0.68	0.86	0.78	0.92	0.6	0.27		0.92	PDI
PHK	0.92	0.73	-0.51	0.89	0.8	0.85	0.69	0.41	0.92		PHK
	PFN	MEGI	XFLT	PCN	PTY	GOF	RA	UTG	PDI	PHK

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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

PDI	+ 0.95	PFN
PCN	+ 0.93	PFN
PHK	+ 0.92	PFN
PDI	+ 0.92	GOF
PHK	+ 0.92	PDI
GOF	+ 0.91	PFN

High negative correlations

XFLT	- 0.79	MEGI
GOF	- 0.69	XFLT
PDI	- 0.68	XFLT
PHK	- 0.51	XFLT
XFLT	- 0.51	PFN
PCN	- 0.36	XFLT

Risk-Adjusted Indicators

There is a big difference between Pimco Stock performing well and Pimco Dynamic Company 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 Dynamic'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
PFN	0.24	0.07	0.51	6.52	0.00	(0.32)	0.54	(0.40)	1.37
MEGI	0.82	0.17	0.24	(8.06)	0.78	(0.98)	1.92	(1.62)	6.34
XFLT	0.59	(0.09)	0.00	(0.60)	0.00	0.00	0.95	(1.55)	4.53
PCN	0.28	0.05	0.26	0.74	0.28	(0.30)	0.60	(0.59)	1.71
PTY	0.19	0.03	0.27	1.41	0.21	(0.21)	0.42	(0.34)	1.82
GOF	0.42	0.12	0.27	14.34	0.39	(0.46)	0.97	(1.01)	2.89
RA	0.29	0.01	0.18	0.03	0.32	(0.33)	0.68	(0.62)	1.45
UTG	0.88	0.11	0.11	0.54	1.25	(0.83)	1.92	(2.31)	5.69
PDI	0.29	0.17	0.52	22.81	0.00	(0.36)	0.82	(0.53)	2.07
PHK	0.29	0.04	0.22	1.38	0.29	(0.37)	0.63	(0.63)	2.10

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