Foreign Bond Correlations

Mutual Funds . USA . 
Fund . Foreign Bond Fund
PFUAX Fund  USD 7.53  0.03  0.40%   
The current 90-days correlation between Foreign Bond and Gmo High Yield is 0.59 (i.e., Very weak 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

Average diversification

The correlation between Foreign Bond Fund and DJI is 0.17 (i.e., Average 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 nation.

Moving together with Foreign Mutual Fund

  0.93PWLEX Pimco Rae WorldwidePairCorr
  0.92PWLBX Pimco Rae WorldwidePairCorr
  0.92PWLMX Pimco Rae WorldwidePairCorr
  0.91PWLIX Pimco Rae WorldwidePairCorr
  0.67PFCJX Pimco Preferred AndPairCorr
  0.78PFATX Pimco FundamentalPairCorr
  0.68PFANX Pimco Capital SecPairCorr
  0.91PFGAX Long Term GovernmentPairCorr
  0.91PFGCX Long Term GovernmentPairCorr
  0.9PFIAX Pimco Floating IncomePairCorr
  0.9PFIIX Pimco Floating IncomePairCorr
  0.92PFIUX Pimco Unconstrained BondPairCorr
  0.68PFINX Pimco Capital SecPairCorr
  0.76PFMIX Municipal BondPairCorr
  0.91PFNCX Pimco Floating IncomePairCorr
  0.68PFNNX Pimco Preferred AndPairCorr
  0.89PFNIX Pimco Low DurationPairCorr
  0.92PFNUX Pimco Dynamic BondPairCorr
  1.0PFRCX Foreign BondPairCorr
  0.89PFRMX Pimco Inflation ResponsePairCorr
  0.67PFPNX Pimco Capital SecPairCorr
  0.77PFTCX Short Term FundPairCorr
  0.89PFTPX Pimco Floating IncomePairCorr
  0.96PFSIX Pimco Emerging MarketsPairCorr
  1.0PFUUX Pimco Foreign BondPairCorr
  1.0PFUIX Foreign BondPairCorr
  1.0PFUNX Pimco International BondPairCorr
  1.0PFUPX Pimco Foreign BondPairCorr
  0.64PGAPX Pimco Global MultiPairCorr
  0.91PGBIX Global Bond FundPairCorr

Related Correlations Analysis

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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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