Pimco Unconstrained Correlations

PFIUX Fund

USD 9.98 0.01 0.10%

The current 90-days correlation between Pimco Unconstrained Bond and Astor Longshort Fund is 0.39 (i.e., Weak diversification). The correlation of Pimco Unconstrained 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 Unconstrained Correlation With Market

Significant diversification

The correlation between Pimco Unconstrained Bond and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Unconstrained Bond 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 Unconstrained Bond. 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 employment.

Moving together with Pimco Mutual Fund

0.74	PFBPX	Pimco Foreign Bond	Pair Corr
0.86	PFCJX	Pimco Preferred And	Pair Corr
0.88	PFANX	Pimco Capital Sec	Pair Corr
0.73	PFIAX	Pimco Floating Income	Pair Corr
0.8	PFIIX	Pimco Floating Income	Pair Corr
0.89	PFINX	Pimco Capital Sec	Pair Corr
0.74	PFNCX	Pimco Floating Income	Pair Corr
0.74	PFONX	Pimco International Bond	Pair Corr
0.74	PFORX	Pimco Foreign Bond	Pair Corr
0.89	PFNNX	Pimco Preferred And	Pair Corr
0.73	PFNIX	Pimco Low Duration	Pair Corr
1.0	PFNUX	Pimco Dynamic Bond	Pair Corr
0.73	PFOAX	Pimco Foreign Bond	Pair Corr
0.68	PFOCX	Pimco Foreign Bond	Pair Corr
0.74	PFRAX	Pimco Foreign Bond	Pair Corr
0.89	PFPNX	Pimco Capital Sec	Pair Corr
0.83	PFTCX	Short Term Fund	Pair Corr
0.73	PFTPX	Pimco Floating Income	Pair Corr
0.7	PFRRX	Pimco Foreign Bond	Pair Corr
0.76	PGAPX	Pimco Global Multi	Pair Corr
0.78	PXTIX	Fundamental Indexplus	Pair Corr
0.76	PGAIX	Pimco Global Multi	Pair Corr

Moving against Pimco Mutual Fund

0.59	PFGCX	Long Term Government	Pair Corr
0.58	PFGAX	Long Term Government	Pair Corr
0.52	PFRCX	Foreign Bond	Pair Corr
0.5	PFUUX	Pimco Foreign Bond	Pair Corr
0.5	PFUAX	Foreign Bond	Pair Corr
0.5	PFUIX	Foreign Bond	Pair Corr
0.58	PGOVX	Long Term Government	Pair Corr
0.5	PFUNX	Pimco International Bond	Pair Corr
0.5	PFUPX	Pimco Foreign Bond	Pair Corr
0.37	PGCAX	Investment Grade Porate	Pair Corr

Related Correlations Analysis

	ASTIX	FTFZX	RSDIX	TSDCX	CDICX	LCSAX	PRMDX
ASTIX		0.38	-0.12	0.78	-0.39	-0.76	0.2	ASTIX
FTFZX	0.38		0.73	0.62	0.46	-0.18	0.85	FTFZX
RSDIX	-0.12	0.73		0.24	0.85	0.25	0.64	RSDIX
TSDCX	0.78	0.62	0.24		-0.16	-0.81	0.34	TSDCX
CDICX	-0.39	0.46	0.85	-0.16		0.56	0.48	CDICX
LCSAX	-0.76	-0.18	0.25	-0.81	0.56		0.09	LCSAX
PRMDX	0.2	0.85	0.64	0.34	0.48	0.09		PRMDX
	ASTIX	FTFZX	RSDIX	TSDCX	CDICX	LCSAX	PRMDX

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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

PRMDX	+ 0.85	FTFZX
CDICX	+ 0.85	RSDIX
TSDCX	+ 0.78	ASTIX
RSDIX	+ 0.73	FTFZX
PRMDX	+ 0.64	RSDIX
TSDCX	+ 0.62	FTFZX

High negative correlations

LCSAX	- 0.81	TSDCX
LCSAX	- 0.76	ASTIX
CDICX	- 0.39	ASTIX
LCSAX	- 0.18	FTFZX
CDICX	- 0.16	TSDCX
RSDIX	- 0.12	ASTIX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ASTIX	0.28	0.05	(0.14)	1.86	0.26	(0.31)	0.57	(0.64)	1.79
FTFZX	0.07	0.00	(0.60)	0.30	0.00	(0.13)	0.19	(0.10)	0.68
RSDIX	0.08	0.00	(0.82)	(0.21)	0.00	(0.16)	0.21	(0.10)	0.72
TSDCX	0.06	0.01	(0.92)	(0.61)	0.00	(0.16)	0.11	(0.11)	0.55
CDICX	0.09	0.00	(0.92)	0.20	0.05	(0.12)	0.26	(0.13)	0.64
LCSAX	0.25	(0.07)	0.00	(3.47)	0.00	0.00	0.33	(0.54)	1.48
PRMDX	0.05	(0.01)	(0.46)	(0.32)	0.00	(0.20)	0.20	(0.19)	0.59

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