Pimco Preferred Correlations

Mutual Funds . USA . 
Fund . Pimco Preferred And
PFCJX Fund  USD 9.31  0.01  0.11%   
The current 90-days correlation between Pimco Preferred And and Small Cap Equity is 0.16 (i.e., Average diversification). The correlation of Pimco Preferred 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 Preferred Correlation With Market

Average diversification

The correlation between Pimco Preferred And and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Preferred And 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 Preferred And. 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 inflation.

Moving together with Pimco Mutual Fund

  0.69PFBPX Pimco Foreign BondPairCorr
  0.97PFANX Pimco Capital SecPairCorr
  0.68PFIAX Pimco Floating IncomePairCorr
  0.72PFIIX Pimco Floating IncomePairCorr
  0.86PFIUX Pimco Unconstrained BondPairCorr
  0.96PFINX Pimco Capital SecPairCorr
  0.73PFNCX Pimco Floating IncomePairCorr
  0.69PFONX Pimco International BondPairCorr
  0.69PFORX Pimco Foreign BondPairCorr
  0.99PFNNX Pimco Preferred AndPairCorr
  0.68PFNIX Pimco Low DurationPairCorr
  0.87PFNUX Pimco Dynamic BondPairCorr
  0.68PFOAX Pimco Foreign BondPairCorr
  0.68PFOCX Pimco Foreign BondPairCorr
  0.69PFRAX Pimco Foreign BondPairCorr
  0.61PFRMX Pimco Inflation ResponsePairCorr
  0.99PFPNX Pimco Capital SecPairCorr
  0.68PFTPX Pimco Floating IncomePairCorr
  0.7PFRRX Pimco Foreign BondPairCorr
  0.82PGAPX Pimco Global MultiPairCorr
  0.69PXTIX Fundamental IndexplusPairCorr
  0.68PXTNX Pimco Rae PlusPairCorr

Moving against Pimco Mutual Fund

  0.35PFGCX Long Term GovernmentPairCorr
  0.34PFGAX Long Term GovernmentPairCorr
  0.34PGOVX Long Term GovernmentPairCorr

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   
DFVEX
+ 0.98
GSCYX
DFVEX
+ 0.89
RGELX
RGELX
+ 0.82
GSCYX
DFVEX
+ 0.78
RUSIX
RUSIX
+ 0.76
RGELX
RUSIX
+ 0.7
GSCYX
  
High negative correlations   
DFVEX
- 0.75
QDIBX
RUSIX
- 0.74
QDIBX
QDIBX
- 0.67
GSCYX
RGELX
- 0.65
QDIBX
DODFX
- 0.22
GSCYX
DFVEX
- 0.12
DODFX

Risk-Adjusted Indicators

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