Short Term Correlations

Mutual Funds . USA . 
Fund . Short Term Fund C
PFTCX Fund  USD 9.68  0.00  0.00%   
The current 90-days correlation between Short Term Fund and Inverse Mid Cap Strategy is 0.06 (i.e., Significant diversification). The correlation of Short Term 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.

Short Term Correlation With Market

Good diversification

The correlation between Short Term Fund C and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Short Term Fund C 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 Short Term Fund C. 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 Short Mutual Fund

  0.88PWLEX Pimco Rae WorldwidePairCorr
  0.88PWLBX Pimco Rae WorldwidePairCorr
  0.88PWLMX Pimco Rae WorldwidePairCorr
  0.88PWLIX Pimco Rae WorldwidePairCorr
  0.89PFATX Pimco FundamentalPairCorr
  0.62PFANX Pimco Capital SecPairCorr
  0.72PFGAX Long Term GovernmentPairCorr
  0.7PFGCX Long Term GovernmentPairCorr
  0.95PFIAX Pimco Floating IncomePairCorr
  0.96PFIIX Pimco Floating IncomePairCorr
  0.93PFIUX Pimco Unconstrained BondPairCorr
  0.62PFINX Pimco Capital SecPairCorr
  0.7PFMIX Municipal BondPairCorr
  0.95PFNCX Pimco Floating IncomePairCorr
  0.62PFNNX Pimco Preferred AndPairCorr
  0.96PFNIX Pimco Low DurationPairCorr
  0.93PFNUX Pimco Dynamic BondPairCorr
  0.73PFRCX Foreign BondPairCorr
  0.92PFRMX Pimco Inflation ResponsePairCorr
  0.62PFPNX Pimco Capital SecPairCorr
  0.96PFTPX Pimco Floating IncomePairCorr
  0.9PFSIX Pimco Emerging MarketsPairCorr
  0.77PFUUX Pimco Foreign BondPairCorr
  0.77PFUAX Foreign BondPairCorr
  0.78PFUIX Foreign BondPairCorr
  0.77PFUNX Pimco International BondPairCorr
  0.77PFUPX Pimco Foreign BondPairCorr
  0.66PGAPX Pimco Global MultiPairCorr
  0.93PGBIX Global Bond FundPairCorr

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   
PRDMX
+ 0.96
BPSCX
FCPVX
+ 0.96
BPSCX
FCPVX
+ 0.93
PRDMX
FCPVX
+ 0.88
ARSMX
PRDMX
+ 0.85
ARSMX
BPSCX
+ 0.83
ARSMX
  
High negative correlations   
FCPVX
- 0.59
RYCLX
BPSCX
- 0.58
RYCLX
PRDMX
- 0.55
RYCLX
ARSMX
- 0.26
RYCLX

Risk-Adjusted Indicators

There is a big difference between Short Mutual Fund performing well and Short Term 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 Short Term'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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