Long-term Correlations

Mutual Funds . USA . 
Fund . Long Term Government Fund
PGOVX Fund  USD 14.09  0.02  0.14%   
The current 90-days correlation between Long Term Government and Metropolitan West High is 0.23 (i.e., Modest diversification). The correlation of Long-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.

Long-term Correlation With Market

Significant diversification

The correlation between Long Term Government Fund and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Long Term Government 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 Long Term Government 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 real.

Moving together with Long-term Mutual Fund

  0.91PWLEX Pimco Rae WorldwidePairCorr
  0.91PWLBX Pimco Rae WorldwidePairCorr
  0.85PWLMX Pimco Rae WorldwidePairCorr
  0.92PWLIX Pimco Rae WorldwidePairCorr
  0.8PFATX Pimco FundamentalPairCorr
  0.93PFANX Pimco Capital SecPairCorr
  0.94PFGAX Long Term GovernmentPairCorr
  1.0PFGCX Long Term GovernmentPairCorr
  0.89PFIAX Pimco Floating IncomePairCorr
  0.89PFIIX Pimco Floating IncomePairCorr
  0.91PFIUX Pimco Unconstrained BondPairCorr
  0.94PFINX Pimco Capital SecPairCorr
  0.85PFMIX Municipal BondPairCorr
  0.9PFNCX Pimco Floating IncomePairCorr
  0.94PFNNX Pimco Preferred AndPairCorr
  0.89PFNIX Pimco Low DurationPairCorr
  0.91PFRCX Foreign BondPairCorr
  0.86PFRMX Pimco Inflation ResponsePairCorr
  0.77PFTCX Short Term FundPairCorr
  0.89PFTPX Pimco Floating IncomePairCorr
  0.91PFUUX Pimco Foreign BondPairCorr
  0.66PGAPX Pimco Global MultiPairCorr
  0.92PGBIX Global Bond FundPairCorr
  0.66PGAIX Pimco Global MultiPairCorr
  0.98PGCAX Investment Grade PoratePairCorr
  0.65PGMAX Pimco Global MultiPairCorr
  0.93PGNPX Pimco Global BondPairCorr
  0.94PGSAX Pimco Global AdvantagePairCorr
  0.86PYMCX Pimco High YieldPairCorr
  0.84PYMNX Pimco High YieldPairCorr
  0.79PHDAX High Yield FundPairCorr
  0.77PHDCX High Yield FundPairCorr
  0.78PHIYX High Yield FundPairCorr
  0.83PDI Pimco Dynamic IncomePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Long-term Mutual Fund performing well and Long-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 Long-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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