Pimco Income Correlations

PIPNX Fund

USD 10.73 0.02 0.19%

The current 90-days correlation between Pimco Income and Short Small Cap Profund is -0.34 (i.e., Very good diversification). The correlation of Pimco Income 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 Income Correlation With Market

Average diversification

The correlation between Pimco Income 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 Pimco Income 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 Pimco Income 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 board of governors.

Moving together with Pimco Mutual Fund

0.98	PWLEX	Pimco Rae Worldwide	Pair Corr
0.97	PWLBX	Pimco Rae Worldwide	Pair Corr
0.97	PWLMX	Pimco Rae Worldwide	Pair Corr
0.97	PWLIX	Pimco Rae Worldwide	Pair Corr
0.9	PFATX	Pimco Fundamental	Pair Corr
0.73	PFANX	Pimco Capital Sec	Pair Corr
0.92	PFGCX	Long Term Government	Pair Corr
0.99	PFIAX	Pimco Floating Income	Pair Corr
0.99	PFIIX	Pimco Floating Income	Pair Corr
0.99	PFIUX	Pimco Unconstrained Bond	Pair Corr
0.73	PFINX	Pimco Capital Sec	Pair Corr
0.83	PFMIX	Municipal Bond	Pair Corr
0.99	PFNCX	Pimco Floating Income	Pair Corr
0.73	PFNNX	Pimco Preferred And	Pair Corr
0.99	PFNIX	Pimco Low Duration	Pair Corr
0.91	PFRCX	Foreign Bond	Pair Corr
0.96	PFRMX	Pimco Inflation Response	Pair Corr
0.92	PFTCX	Short Term Fund	Pair Corr
0.93	PFUUX	Pimco Foreign Bond	Pair Corr
0.68	PGAPX	Pimco Global Multi	Pair Corr
0.97	PGCAX	Investment Grade Porate	Pair Corr
0.67	PGMAX	Pimco Global Multi	Pair Corr
0.99	PGNPX	Pimco Global Bond	Pair Corr
0.92	PGOVX	Long Term Government	Pair Corr
0.82	PYMCX	Pimco High Yield	Pair Corr
0.86	PYMNX	Pimco High Yield	Pair Corr
0.88	PHDAX	High Yield Fund	Pair Corr
0.85	PHDCX	High Yield Fund	Pair Corr
0.88	PHIYX	High Yield Fund	Pair Corr
0.95	PDI	Pimco Dynamic Income	Pair Corr
0.86	PHMIX	Pimco High Yield	Pair Corr
0.88	PHLPX	Pimco High Yield	Pair Corr
0.88	PHNNX	Pimco High Yield	Pair Corr
0.84	PHSCX	Pimco High Yield	Pair Corr
0.88	PHYAX	High Yield Fund	Pair Corr
0.94	PZRAX	Pimco Rae Fundamental	Pair Corr

Related Correlations Analysis

	SHPSX	UCPIX	PRDMX	LVAQX	ESCIX	AOPAX	IAAEX
SHPSX		0.99	-0.9	-0.94	-0.51	0.35	-0.38	SHPSX
UCPIX	0.99		-0.92	-0.94	-0.52	0.34	-0.35	UCPIX
PRDMX	-0.9	-0.92		0.87	0.65	-0.1	0.35	PRDMX
LVAQX	-0.94	-0.94	0.87		0.46	-0.26	0.62	LVAQX
ESCIX	-0.51	-0.52	0.65	0.46		0.41	0.24	ESCIX
AOPAX	0.35	0.34	-0.1	-0.26	0.41		0.21	AOPAX
IAAEX	-0.38	-0.35	0.35	0.62	0.24	0.21		IAAEX
	SHPSX	UCPIX	PRDMX	LVAQX	ESCIX	AOPAX	IAAEX

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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

UCPIX	+ 0.99	SHPSX
LVAQX	+ 0.87	PRDMX
ESCIX	+ 0.65	PRDMX
IAAEX	+ 0.62	LVAQX
ESCIX	+ 0.46	LVAQX
AOPAX	+ 0.41	ESCIX

High negative correlations

LVAQX	- 0.94	UCPIX
LVAQX	- 0.94	SHPSX
PRDMX	- 0.92	UCPIX
PRDMX	- 0.9	SHPSX
ESCIX	- 0.52	UCPIX
ESCIX	- 0.51	SHPSX

Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SHPSX	1.00	0.14	0.25	(0.21)	0.93	(1.21)	2.75	(1.56)	7.00
UCPIX	1.93	0.26	0.22	(0.20)	1.89	(2.27)	5.49	(3.25)	13.88
PRDMX	1.34	(0.18)	0.00	(0.22)	0.00	0.00	1.84	(3.77)	7.15
LVAQX	0.83	(0.14)	0.00	(0.24)	0.00	0.00	1.18	(1.87)	3.80
ESCIX	0.75	0.00	0.00	(0.07)	0.00	0.00	1.87	(2.03)	4.56
AOPAX	0.48	0.05	0.12	0.04	0.67	(0.51)	1.15	(1.14)	3.90
IAAEX	0.80	(0.12)	0.00	(0.32)	0.00	0.00	1.41	(1.48)	9.17

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