Pimco Extended Correlations

Mutual Funds . USA . 
Fund . Pimco Extended Duration
PEDPX Fund  USD 13.72  0.21  1.51%   
The current 90-days correlation between Pimco Extended Duration and Dodge Cox Stock is 0.18 (i.e., Average 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

Good diversification

The correlation between Pimco Extended Duration and DJI is -0.11 (i.e., Good 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 american community survey.

Moving together with Pimco Mutual Fund

  1.0PFGAX Long Term GovernmentPairCorr
  1.0PFGCX Long Term GovernmentPairCorr
  0.89PFRCX Foreign BondPairCorr
  0.75PFSIX Pimco Emerging MarketsPairCorr
  0.89PFUUX Pimco Foreign BondPairCorr
  0.88PFUAX Foreign BondPairCorr
  0.89PFUIX Foreign BondPairCorr
  0.89PFUNX Pimco International BondPairCorr
  0.89PFUPX Pimco Foreign BondPairCorr
  0.77PGBIX Global Bond FundPairCorr

Moving against Pimco Mutual Fund

  0.41PFINX Pimco Capital SecPairCorr
  0.4PFIUX Pimco Unconstrained BondPairCorr
  0.37PFANX Pimco Capital SecPairCorr
  0.82PFTCX Short Term FundPairCorr
  0.4PFNNX Pimco Preferred AndPairCorr
  0.4PFPNX Pimco Capital SecPairCorr
  0.36PFNUX Pimco Dynamic BondPairCorr
  0.44PXTNX Pimco Rae PlusPairCorr
  0.4PXTIX Fundamental IndexplusPairCorr
  0.38PGAPX Pimco Global MultiPairCorr

Related Correlations Analysis

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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   
PLAAX
+ 0.99
TRBCX
ILESX
+ 0.96
DOXGX
ILESX
+ 0.96
TRBCX
ILESX
+ 0.96
PLAAX
TRBCX
+ 0.9
DOXGX
PLAAX
+ 0.9
DOXGX
  
High negative correlations   
PLAAX
- 0.19
GMLVX
GMLVX
- 0.16
DOXGX
ILESX
- 0.13
GMLVX
TRBCX
- 0.13
GMLVX
GMLVX
- 0.03
TADGX

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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