Global Bond Correlations

Mutual Funds . USA . 
Fund . Global Bond Fund
PGBIX Fund  USD 9.65  0.01  0.10%   
The current 90-days correlation between Global Bond Fund and Dws Global Macro is 0.12 (i.e., Average diversification). The correlation of Global 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.

Global Bond Correlation With Market

Average diversification

The correlation between Global 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 Global 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 Global 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 Global Mutual Fund

  0.96PWLEX Pimco Rae WorldwidePairCorr
  0.96PWLBX Pimco Rae WorldwidePairCorr
  0.96PWLMX Pimco Rae WorldwidePairCorr
  0.97PWLIX Pimco Rae WorldwidePairCorr
  0.7PFCJX Pimco Preferred AndPairCorr
  0.89PFATX Pimco FundamentalPairCorr
  0.73PFANX Pimco Capital SecPairCorr
  0.86PFGAX Long Term GovernmentPairCorr
  0.9PFGCX Long Term GovernmentPairCorr
  0.99PFIAX Pimco Floating IncomePairCorr
  0.99PFIIX Pimco Floating IncomePairCorr
  0.99PFIUX Pimco Unconstrained BondPairCorr
  0.73PFINX Pimco Capital SecPairCorr
  0.78PFMIX Municipal BondPairCorr
  0.76PFNCX Pimco Floating IncomePairCorr
  0.73PFNNX Pimco Preferred AndPairCorr
  0.75PFNIX Pimco Low DurationPairCorr
  0.72PFNUX Pimco Dynamic BondPairCorr
  0.89PFRCX Foreign BondPairCorr
  0.73PFRMX Pimco Inflation ResponsePairCorr
  0.73PFPNX Pimco Capital SecPairCorr
  0.92PFTCX Short Term FundPairCorr
  0.98PFTPX Pimco Floating IncomePairCorr
  0.77PFSIX Pimco Emerging MarketsPairCorr
  0.73PFUUX Pimco Foreign BondPairCorr
  0.91PFUAX Foreign BondPairCorr
  0.92PFUIX Foreign BondPairCorr
  0.91PFUNX Pimco International BondPairCorr
  0.91PFUPX Pimco Foreign BondPairCorr
  0.7PGAPX Pimco Global MultiPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global 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 Global 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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