Foreign Bond Correlations

Mutual Funds USA . 
Fund . Foreign Bond Fund
PFRCX Fund  USD 7.53  0.03  0.40%   
The current 90-days correlation between Foreign Bond and Barings Active Short is -0.04 (i.e., Good diversification). The correlation of Foreign 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.

Foreign Bond Correlation With Market

Modest diversification

The correlation between Foreign Bond Fund and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Foreign 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 Foreign 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 main economic indicators.

Moving together with Foreign Mutual Fund

  0.77PWLEX Pimco Rae WorldwidePairCorr
  0.76PWLBX Pimco Rae WorldwidePairCorr
  0.76PWLMX Pimco Rae WorldwidePairCorr
  0.75PWLIX Pimco Rae WorldwidePairCorr
  0.71PFBPX Pimco Foreign BondPairCorr
  0.78PFCJX Pimco Preferred AndPairCorr
  0.78PFANX Pimco Capital SecPairCorr
  0.89PFGAX Long Term GovernmentPairCorr
  0.88PFGCX Long Term GovernmentPairCorr
  0.77PFINX Pimco Capital SecPairCorr
  0.9PFMIX Municipal BondPairCorr
  0.71PFONX Pimco International BondPairCorr
  0.71PFORX Pimco Foreign BondPairCorr
  0.76PFNNX Pimco Preferred AndPairCorr
  0.72PFOAX Pimco Foreign BondPairCorr
  0.77PFOCX Pimco Foreign BondPairCorr
  0.71PFRAX Pimco Foreign BondPairCorr
  0.62PFRMX Pimco Inflation ResponsePairCorr
  0.76PFPNX Pimco Capital SecPairCorr
  0.74PFRRX Pimco Foreign BondPairCorr
  0.79PFSIX Pimco Emerging MarketsPairCorr
  1.0PFUUX Pimco Foreign BondPairCorr
  1.0PFUAX Foreign BondPairCorr
  1.0PFUIX Foreign BondPairCorr
  1.0PFUNX Pimco International BondPairCorr
  1.0PFUPX Pimco Foreign BondPairCorr
  0.63PGAPX Pimco Global MultiPairCorr
  0.72PXTIX 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 Foreign Mutual Fund performing well and Foreign 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 Foreign 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.

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