Pimco Floating Correlations

PFTPX Fund

USD 8.31 0.01 0.12%

The current 90-days correlation between Pimco Floating Income and Old Westbury California is 0.25 (i.e., Modest diversification). The correlation of Pimco Floating 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 Floating Correlation With Market

Weak diversification

The correlation between Pimco Floating Income and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Floating Income 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 Floating Income. 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 employment.

Moving together with Pimco Mutual Fund

0.79	PFBPX	Pimco Foreign Bond	Pair Corr
0.88	PFCJX	Pimco Preferred And	Pair Corr
0.76	PFATX	Pimco Fundamental	Pair Corr
0.9	PFANX	Pimco Capital Sec	Pair Corr
0.98	PFIAX	Pimco Floating Income	Pair Corr
1.0	PFIIX	Pimco Floating Income	Pair Corr
0.9	PFINX	Pimco Capital Sec	Pair Corr
0.79	PFONX	Pimco International Bond	Pair Corr
0.8	PFORX	Pimco Foreign Bond	Pair Corr
0.9	PFNNX	Pimco Preferred And	Pair Corr
1.0	PFNIX	Pimco Low Duration	Pair Corr
0.97	PFNUX	Pimco Dynamic Bond	Pair Corr
0.78	PFOAX	Pimco Foreign Bond	Pair Corr
0.71	PFOCX	Pimco Foreign Bond	Pair Corr
0.79	PFRAX	Pimco Foreign Bond	Pair Corr
0.84	PFRMX	Pimco Inflation Response	Pair Corr
0.94	PFTCX	Short Term Fund	Pair Corr
0.81	PXTIX	Fundamental Indexplus	Pair Corr
0.82	PXTNX	Pimco Rae Plus	Pair Corr
0.97	PGBIX	Global Bond Fund	Pair Corr
0.93	PGAIX	Pimco Global Multi	Pair Corr
0.73	PGCAX	Investment Grade Porate	Pair Corr
0.87	PGSAX	Pimco Global Advantage	Pair Corr
0.84	PYMAX	Pimco High Yield	Pair Corr
0.84	PYMNX	Pimco High Yield	Pair Corr
0.84	PYMPX	Pimco High Yield	Pair Corr
0.8	PHDAX	High Yield Fund	Pair Corr
0.75	PHDCX	High Yield Fund	Pair Corr
0.78	PHFNX	Pimco High Yield	Pair Corr
0.86	PHIYX	High Yield Fund	Pair Corr

Moving against Pimco Mutual Fund

0.42	PFUAX	Foreign Bond	Pair Corr
0.36	PFUIX	Foreign Bond	Pair Corr
0.36	PFUPX	Pimco Foreign Bond	Pair Corr
0.84	PDI	Pimco Dynamic Income	Pair Corr

Related Correlations Analysis

	OWCAX	MWCPX	0P000070L2	MDMTX	SMAAX	PRFHX	FIDAX	FMVUX
OWCAX		0.84	0.78	0.83	0.95	0.86	-0.23	0.26	OWCAX
MWCPX	0.84		0.87	0.84	0.84	0.92	-0.38	0.15	MWCPX
0P000070L2	0.78	0.87		0.61	0.71	0.75	-0.08	0.37	0P000070L2
MDMTX	0.83	0.84	0.61		0.92	0.95	-0.5	-0.04	MDMTX
SMAAX	0.95	0.84	0.71	0.92		0.91	-0.33	0.11	SMAAX
PRFHX	0.86	0.92	0.75	0.95	0.91		-0.56	-0.03	PRFHX
FIDAX	-0.23	-0.38	-0.08	-0.5	-0.33	-0.56		0.64	FIDAX
FMVUX	0.26	0.15	0.37	-0.04	0.11	-0.03	0.64		FMVUX
	OWCAX	MWCPX	0P000070L2	MDMTX	SMAAX	PRFHX	FIDAX	FMVUX

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

SMAAX	+ 0.95	OWCAX
PRFHX	+ 0.95	MDMTX
PRFHX	+ 0.92	MWCPX
SMAAX	+ 0.92	MDMTX
PRFHX	+ 0.91	SMAAX
0P000070L2	+ 0.87	MWCPX

High negative correlations

FIDAX	- 0.56	PRFHX
FIDAX	- 0.5	MDMTX
FIDAX	- 0.38	MWCPX
FIDAX	- 0.33	SMAAX
FIDAX	- 0.23	OWCAX
FIDAX	- 0.08	0P000070L2

Risk-Adjusted Indicators

There is a big difference between Pimco Mutual Fund performing well and Pimco Floating 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 Floating'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
OWCAX	0.06	0.00	(0.58)	(0.05)	0.00	(0.10)	0.10	(0.10)	0.31
MWCPX	0.09	0.00	(0.52)	0.06	0.00	(0.15)	0.19	(0.10)	0.67
0P000070L2	0.03	0.01	0.00	(0.37)	0.00	0.00	0.00	0.00	0.40
MDMTX	0.09	0.00	(0.45)	(0.21)	0.06	(0.18)	0.29	(0.19)	0.87
SMAAX	0.06	0.00	(0.55)	(0.32)	0.00	(0.12)	0.19	(0.10)	0.29
PRFHX	0.11	0.00	(0.35)	0.00	0.00	(0.15)	0.27	(0.18)	0.81
FIDAX	0.73	0.05	0.00	0.36	0.99	(0.85)	1.71	(1.41)	5.59
FMVUX	0.66	(0.02)	(0.02)	0.05	0.82	(0.66)	1.62	(1.35)	4.16

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