Pimco Energy Correlations

Funds . USA . 
Fund . Pimco Energy Tactical
PDX Fund   23.91  0.56  2.40%   
The current 90-days correlation between Pimco Energy Tactical and Investec Emerging Markets is 0.07 (i.e., Significant diversification). The correlation of Pimco Energy 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 Energy Correlation With Market

Modest diversification

The correlation between Pimco Energy Tactical and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Energy Tactical 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 Energy Tactical. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving against Pimco Fund

  0.62VGTSX Vanguard Total InterPairCorr
  0.62VTIAX Vanguard Total InterPairCorr
  0.37PFN Pimco Income StrategyPairCorr
  0.32XDSMX Dreyfus StrategicPairCorr
  0.32XNXJX Nuveen New JerseyPairCorr
  0.61EMBUX Unconstrained EmergingPairCorr
  0.58PJRAX Prudential Qma InterPairCorr
  0.56FCFBX Fidelity Advisor FreedomPairCorr
  0.55OEMIX Ophmr Eml DbtPairCorr
  0.52FGRSX Federated InternationalPairCorr
  0.51TROIX T Rowe PricePairCorr
  0.51WSINX Wells Fargo StrategicPairCorr
  0.43TSDLX T Rowe PricePairCorr
  0.4VGWLX Vanguard Global WellPairCorr
  0.39TRPZX T Rowe PricePairCorr
  0.35XNBHX Neuberger Berman IntPairCorr
  0.35QLERX Aqr Long ShortPairCorr
  0.31BCAAX Brandywineglobal CPairCorr
  0.68ARHBX Artisan InternationalPairCorr
  0.61UIGSX Government SecuritiesPairCorr
  0.61MCHFX Matthews ChinaPairCorr
  0.56MUBWX Manning Napier UnconPairCorr
  0.55SSTDX Saat Servative StrategyPairCorr
  0.54SSTLX Western Asset ShortPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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