Pimco New Correlations

PNF Fund

USD 7.57 0.05 0.66%

The current 90-days correlation between Pimco New York and Eaton Vance National is 0.23 (i.e., Modest diversification). The correlation of Pimco New 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.

Pimco New Correlation With Market

Good diversification

The correlation between Pimco New York and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco New York 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 New York. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Pimco Fund

0.81	PCQ	Pimco California Mun	Pair Corr
0.7	RIV	Rivernorth Opportunities	Pair Corr
0.75	MSPHX	Massmutual Select Total	Pair Corr
0.89	CBURX	Columbia Income Builder	Pair Corr
0.7	TIDDX	T Rowe Price	Pair Corr
0.87	RIRFX	Capital Income Builder	Pair Corr
0.8	RBBCX	Columbia Income Builder	Pair Corr
0.82	MCTAX	Massmutual Retiresmart	Pair Corr
0.67	IGFAX	Vy Morgan Stanley	Pair Corr
0.79	CKKRX	Columbia Income Builder	Pair Corr
0.67	FCFWX	American Funds Retirement	Pair Corr
0.68	JSEAX	Jpmorgan International	Pair Corr
0.75	PUGCX	Putnam Global Equity	Pair Corr
0.71	RGLDX	American Funds Global	Pair Corr
0.81	BACPX	Blackrock Conservative	Pair Corr
0.75	IIBAX	Voya Intermediate Bond	Pair Corr
0.8	MNCIX	Pro-blend(r) Conservative	Pair Corr
0.76	HEMZX	Virtus Emerging Markets	Pair Corr
0.79	JTOIX	Multimanager Lifestyle	Pair Corr
0.61	FLRRX	Franklin Low Duration	Pair Corr
0.72	SNGYX	Sit Government Securities	Pair Corr
0.75	CITEX	American High Income	Pair Corr
0.71	GIGGX	Deutsche Gnma	Pair Corr
0.81	NHIEX	Neuberger Berman Income	Pair Corr
0.83	TEDPX	Tiaa Cref Emerging	Pair Corr
0.74	XSWZX	Swiss Helvetia	Pair Corr
0.74	PDINX	Putnam Diversified Income	Pair Corr

Related Correlations Analysis

	VPV	MHN	EOT	NAN	NUW	ENX	NMI	NBH	VTN
VPV		0.79	0.91	0.7	0.67	0.8	0.47	0.76	0.93	VPV
MHN	0.79		0.85	0.69	0.68	0.68	0.43	0.76	0.72	MHN
EOT	0.91	0.85		0.77	0.76	0.76	0.56	0.84	0.82	EOT
NAN	0.7	0.69	0.77		0.95	0.8	0.88	0.92	0.53	NAN
NUW	0.67	0.68	0.76	0.95		0.8	0.9	0.89	0.47	NUW
ENX	0.8	0.68	0.76	0.8	0.8		0.67	0.8	0.67	ENX
NMI	0.47	0.43	0.56	0.88	0.9	0.67		0.81	0.3	NMI
NBH	0.76	0.76	0.84	0.92	0.89	0.8	0.81		0.66	NBH
VTN	0.93	0.72	0.82	0.53	0.47	0.67	0.3	0.66		VTN
	VPV	MHN	EOT	NAN	NUW	ENX	NMI	NBH	VTN

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Risk-Adjusted Indicators

There is a big difference between Pimco Fund performing well and Pimco New 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 New'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
VPV	0.46	(0.09)	0.00	(0.48)	0.00	0.00	0.77	(1.29)	2.07
MHN	0.47	(0.08)	0.00	(0.50)	0.00	0.00	0.69	(1.23)	2.81
EOT	0.47	(0.06)	0.00	(0.34)	0.00	0.00	1.01	(1.28)	2.87
NAN	0.38	(0.01)	0.00	(0.28)	0.00	0.00	1.00	(0.70)	2.72
NUW	0.31	(0.01)	0.00	(0.18)	0.00	0.00	0.75	(0.67)	2.26
ENX	0.48	(0.03)	0.00	0.86	0.00	0.00	1.04	(1.14)	3.06
NMI	0.44	0.05	0.17	0.20	0.52	(0.50)	1.02	(0.84)	3.11
NBH	0.48	(0.03)	0.00	(0.23)	0.00	0.00	1.33	(1.06)	3.02
VTN	0.54	(0.08)	0.00	(0.51)	0.00	0.00	1.16	(1.38)	3.88

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Pimco New Correlations

Pimco New Correlation With Market

Good diversification

Moving together with Pimco Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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