Pimco Capital Correlations

Mutual Funds USA . 
Fund . Pimco Capital Sec
PFANX Fund  USD 9.38  0.03  0.32%   
The current 90-days correlation between Pimco Capital Sec and Nuveen Preferred Securities is 0.77 (i.e., Poor diversification). The correlation of Pimco Capital 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 Capital Correlation With Market

Significant diversification

The correlation between Pimco Capital Sec and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Capital Sec 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 Capital Sec. 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 board of governors.

Moving together with Pimco Mutual Fund

  0.78PWLEX Pimco Rae WorldwidePairCorr
  0.79PWLBX Pimco Rae WorldwidePairCorr
  0.79PWLMX Pimco Rae WorldwidePairCorr
  0.79PWLIX Pimco Rae WorldwidePairCorr
  0.83PFBPX Pimco Foreign BondPairCorr
  0.99PFCJX Pimco Preferred AndPairCorr
  0.76PFIAX Pimco Floating IncomePairCorr
  0.8PFIUX Pimco Unconstrained BondPairCorr
  0.64PFMIX Municipal BondPairCorr
  0.8PFNCX Pimco Floating IncomePairCorr
  0.83PFONX Pimco International BondPairCorr
  0.79PFORX Pimco Foreign BondPairCorr
  1.0PFNNX Pimco Preferred AndPairCorr
  0.79PFNIX Pimco Low DurationPairCorr
  0.84PFOAX Pimco Foreign BondPairCorr
  0.83PFOCX Pimco Foreign BondPairCorr
  0.75PFRCX Foreign BondPairCorr
  0.83PFRAX Pimco Foreign BondPairCorr
  0.81PFRMX Pimco Inflation ResponsePairCorr
  1.0PFPNX Pimco Capital SecPairCorr
  0.79PFTPX Pimco Floating IncomePairCorr
  0.83PFRRX Pimco Foreign BondPairCorr
  0.78PFUUX Pimco Foreign BondPairCorr
  0.78PFUAX Foreign BondPairCorr
  0.79PFUIX Foreign BondPairCorr
  0.79PFUNX Pimco International BondPairCorr
  0.79PFUPX Pimco Foreign BondPairCorr
  0.82PGBIX Global Bond FundPairCorr
  0.95PGSAX Pimco Global AdvantagePairCorr
  0.61PYMAX Pimco High YieldPairCorr
  0.61PYMNX Pimco High YieldPairCorr
  0.84PHDAX High Yield FundPairCorr
  0.83PHDCX High Yield FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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