Total Return Correlations

Mutual Funds . USA . 
Fund . Total Return Fund
PMBIX Fund  USD 8.34  0.01  0.12%   
The current 90-days correlation between Total Return and Total Return Fund is 0.97 (i.e., Almost no diversification). The correlation of Total Return 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.

Total Return Correlation With Market

Average diversification

The correlation between Total Return Fund and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Total Return 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 Total Return 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 Total Mutual Fund

  0.96PWLEX Pimco Rae WorldwidePairCorr
  0.96PWLBX Pimco Rae WorldwidePairCorr
  0.96PWLMX Pimco Rae WorldwidePairCorr
  0.96PWLIX Pimco Rae WorldwidePairCorr
  0.72PFCJX Pimco Preferred AndPairCorr
  0.87PFATX Pimco FundamentalPairCorr
  0.74PFANX Pimco Capital SecPairCorr
  0.91PFGAX Long Term GovernmentPairCorr
  0.97PFGCX Long Term GovernmentPairCorr
  0.95PFIAX Pimco Floating IncomePairCorr
  0.95PFIIX Pimco Floating IncomePairCorr
  0.97PFIUX Pimco Unconstrained BondPairCorr
  0.74PFINX Pimco Capital SecPairCorr
  0.8PFMIX Municipal BondPairCorr
  0.95PFNCX Pimco Floating IncomePairCorr
  0.74PFNNX Pimco Preferred AndPairCorr
  0.95PFNIX Pimco Low DurationPairCorr
  0.95PFNUX Pimco Dynamic BondPairCorr
  0.91PFRCX Foreign BondPairCorr
  0.78PFRMX Pimco Inflation ResponsePairCorr
  0.74PFPNX Pimco Capital SecPairCorr
  0.84PFTCX Short Term FundPairCorr
  0.94PFTPX Pimco Floating IncomePairCorr
  0.96PFSIX Pimco Emerging MarketsPairCorr
  0.92PFUUX Pimco Foreign BondPairCorr
  0.92PFUAX Foreign BondPairCorr
  0.93PFUIX Foreign BondPairCorr
  0.92PFUNX Pimco International BondPairCorr
  0.92PFUPX Pimco Foreign BondPairCorr
  0.63PGAPX Pimco Global MultiPairCorr
  0.97PGBIX Global Bond FundPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
PHIYX
+ 0.84
PTSAX
PFORX
+ 0.64
PHIYX
BIGIX
+ 0.51
PHIYX
BIGIX
+ 0.5
PFORX
PFORX
+ 0.42
PTSAX
PFORX
+ 0.42
TEGAX
  
High negative correlations   
TEGAX
- 0.51
PTSAX
TEGAX
- 0.09
PHIYX

Risk-Adjusted Indicators

There is a big difference between Total Mutual Fund performing well and Total Return 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 Total Return'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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY