Pimco High Correlations

Mutual Funds . USA . 
Fund . Pimco High Yield
PHMIX Fund  USD 8.47  0.01  0.12%   
The current 90-days correlation between Pimco High Yield and Municipal Bond Fund is 0.97 (i.e., Almost no diversification). The correlation of Pimco High 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.

Pimco High Correlation With Market

Average diversification

The correlation between Pimco High Yield and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco High Yield 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 Pimco High Yield. 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 Pimco Mutual Fund

  0.81PWLEX Pimco Rae WorldwidePairCorr
  0.83PWLBX Pimco Rae WorldwidePairCorr
  0.83PWLMX Pimco Rae WorldwidePairCorr
  0.83PWLIX Pimco Rae WorldwidePairCorr
  0.7PFBPX Pimco Foreign BondPairCorr
  0.89PFCJX Pimco Preferred AndPairCorr
  0.7PFATX Pimco FundamentalPairCorr
  0.91PFANX Pimco Capital SecPairCorr
  0.85PFGAX Long Term GovernmentPairCorr
  0.88PFGCX Long Term GovernmentPairCorr
  0.82PFIAX Pimco Floating IncomePairCorr
  0.81PFIIX Pimco Floating IncomePairCorr
  0.84PFIUX Pimco Unconstrained BondPairCorr
  0.9PFINX Pimco Capital SecPairCorr
  1.0PFMIX Municipal BondPairCorr
  0.82PFNCX Pimco Floating IncomePairCorr
  0.7PFONX Pimco International BondPairCorr
  0.7PFORX Pimco Foreign BondPairCorr
  0.91PFNNX Pimco Preferred AndPairCorr
  0.8PFNIX Pimco Low DurationPairCorr
  0.84PFNUX Pimco Dynamic BondPairCorr
  0.66PFOAX Pimco Foreign BondPairCorr
  0.78PFRCX Foreign BondPairCorr
  0.66PFRAX Pimco Foreign BondPairCorr
  0.69PFRMX Pimco Inflation ResponsePairCorr
  0.9PFPNX Pimco Capital SecPairCorr
  0.68PFTCX Short Term FundPairCorr
  0.8PFTPX Pimco Floating IncomePairCorr
  0.61PFRRX Pimco Foreign BondPairCorr
  0.83PFSIX Pimco Emerging MarketsPairCorr
  0.79PFUUX Pimco Foreign BondPairCorr
  0.79PFUAX Foreign BondPairCorr
  0.8PFUIX Foreign BondPairCorr
  0.79PFUNX Pimco International BondPairCorr
  0.79PFUPX Pimco Foreign BondPairCorr
  0.74PGAPX Pimco Global MultiPairCorr
  0.86PGBIX Global Bond FundPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Pimco Mutual Fund performing well and Pimco High 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 Pimco High'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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