Municipal Bond Correlations

Mutual Funds . USA . 
Fund . Municipal Bond Fund
PFMIX Fund  USD 9.49  0.02  0.21%   
The current 90-days correlation between Municipal Bond and Multi Manager High Yield is 0.58 (i.e., Very weak diversification). The correlation of Municipal Bond 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.

Municipal Bond Correlation With Market

Average diversification

The correlation between Municipal Bond Fund and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Municipal Bond Fund 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 Municipal Bond Fund. 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 Municipal Mutual Fund

  0.73PWLEX Pimco Rae WorldwidePairCorr
  0.71PWLBX Pimco Rae WorldwidePairCorr
  0.71PWLMX Pimco Rae WorldwidePairCorr
  0.71PWLIX Pimco Rae WorldwidePairCorr
  0.75PFBPX Pimco Foreign BondPairCorr
  0.7PFCJX Pimco Preferred AndPairCorr
  0.68PFANX Pimco Capital SecPairCorr
  0.92PFGAX Long Term Government Steady GrowthPairCorr
  0.95PFGCX Long Term Government Steady GrowthPairCorr
  0.66PFINX Pimco Capital SecPairCorr
  0.78PFONX Pimco International BondPairCorr
  0.82PFORX Pimco Foreign BondPairCorr
  0.65PFNNX Pimco Preferred AndPairCorr
  0.78PFOAX Pimco Foreign BondPairCorr
  0.77PFOCX Pimco Foreign BondPairCorr
  0.91PFRCX Foreign BondPairCorr
  0.78PFRAX Pimco Foreign BondPairCorr
  0.65PFPNX Pimco Capital SecPairCorr
  0.77PFRRX Pimco Foreign BondPairCorr
  0.72PFSIX Pimco Emerging MarketsPairCorr
  0.9PFUUX Pimco Foreign BondPairCorr
  0.9PFUAX Foreign BondPairCorr
  0.9PFUIX Foreign BondPairCorr
  0.9PFUNX Pimco International BondPairCorr
  0.9PFUPX Pimco Foreign BondPairCorr
  0.66PXTIX Fundamental IndexplusPairCorr
  0.72PXTNX Pimco Rae PlusPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Municipal Mutual Fund performing well and Municipal Bond 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 Municipal Bond'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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY