Pimco Foreign Correlations

Mutual Funds . USA . 
Fund . Pimco Foreign Bond
PFOAX Fund  USD 9.94  0.01  0.10%   
The current 90-days correlation between Pimco Foreign Bond and Foreign Bond Fund is 0.38 (i.e., Weak diversification). The correlation of Pimco Foreign 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 Foreign Correlation With Market

Average diversification

The correlation between Pimco Foreign Bond and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Foreign 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 Foreign 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 nation.

Moving together with Pimco Mutual Fund

  0.7PWLEX Pimco Rae WorldwidePairCorr
  0.71PWLBX Pimco Rae WorldwidePairCorr
  0.71PWLMX Pimco Rae WorldwidePairCorr
  0.71PWLIX Pimco Rae WorldwidePairCorr
  1.0PFBPX Pimco Foreign BondPairCorr
  0.72PFCJX Pimco Preferred AndPairCorr
  0.77PFANX Pimco Capital SecPairCorr
  0.69PFIAX Pimco Floating IncomePairCorr
  0.72PFIIX Pimco Floating IncomePairCorr
  0.74PFIUX Pimco Unconstrained BondPairCorr
  0.76PFINX Pimco Capital SecPairCorr
  0.7PFMIX Municipal BondPairCorr
  0.72PFNCX Pimco Floating IncomePairCorr
  1.0PFONX Pimco International BondPairCorr
  0.97PFORX Pimco Foreign BondPairCorr
  0.76PFNNX Pimco Preferred AndPairCorr
  0.72PFNIX Pimco Low DurationPairCorr
  0.76PFNUX Pimco Dynamic BondPairCorr
  0.99PFOCX Pimco Foreign BondPairCorr
  0.72PFRCX Foreign BondPairCorr
  1.0PFRAX Pimco Foreign BondPairCorr
  0.66PFRMX Pimco Inflation ResponsePairCorr
  0.76PFPNX Pimco Capital SecPairCorr
  0.72PFTPX Pimco Floating IncomePairCorr
  1.0PFRRX Pimco Foreign BondPairCorr
  0.78PFSIX Pimco Emerging MarketsPairCorr
  0.74PFUUX Pimco Foreign BondPairCorr
  0.74PFUAX Foreign BondPairCorr
  0.75PFUIX Foreign BondPairCorr
  0.75PFUNX Pimco International BondPairCorr
  0.75PFUPX Pimco Foreign BondPairCorr
  0.68PGAPX Pimco Global MultiPairCorr
  0.8PGBIX Global Bond FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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