Pimco Extended Correlations

Mutual Funds . USA . 
Fund . Pimco Extended Duration
PEDIX Fund  USD 13.15  0.38  2.81%   
The current 90-days correlation between Pimco Extended Duration and Vanguard Extended Duration is 0.98 (i.e., Almost no diversification). The correlation of Pimco Extended 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 Extended Correlation With Market

Significant diversification

The correlation between Pimco Extended Duration and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Extended Duration 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 Extended Duration. 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 Pimco Mutual Fund

  0.86PWLEX Pimco Rae WorldwidePairCorr
  0.86PWLBX Pimco Rae WorldwidePairCorr
  0.86PWLMX Pimco Rae WorldwidePairCorr
  0.86PWLIX Pimco Rae WorldwidePairCorr
  0.72PFCJX Pimco Preferred AndPairCorr
  0.7PFATX Pimco FundamentalPairCorr
  0.72PFANX Pimco Capital SecPairCorr
  0.99PFGAX Long Term GovernmentPairCorr
  0.99PFGCX Long Term GovernmentPairCorr
  0.82PFIAX Pimco Floating IncomePairCorr
  0.82PFIIX Pimco Floating IncomePairCorr
  0.85PFIUX Pimco Unconstrained BondPairCorr
  0.72PFINX Pimco Capital SecPairCorr
  0.84PFMIX Municipal BondPairCorr
  0.83PFNCX Pimco Floating IncomePairCorr
  0.71PFNNX Pimco Preferred AndPairCorr
  0.81PFNIX Pimco Low DurationPairCorr
  0.85PFNUX Pimco Dynamic BondPairCorr
  0.88PFRCX Foreign BondPairCorr
  0.79PFRMX Pimco Inflation ResponsePairCorr
  0.71PFPNX Pimco Capital SecPairCorr
  0.67PFTCX Short Term FundPairCorr
  0.81PFTPX Pimco Floating IncomePairCorr
  0.86PFSIX Pimco Emerging MarketsPairCorr
  0.88PFUUX Pimco Foreign BondPairCorr
  0.88PFUAX Foreign BondPairCorr
  0.88PFUIX Foreign BondPairCorr
  0.88PFUNX Pimco International BondPairCorr
  0.88PFUPX Pimco Foreign BondPairCorr
  0.86PGBIX Global Bond FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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