Pimco Income Correlations

Mutual Funds . USA . 
Fund . Pimco Income Fund
PIPNX Fund  USD 11.02  0.01  0.09%   
The current 90-days correlation between Pimco Income and Jpmorgan Diversified Fund is 0.1 (i.e., Average 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

Very poor diversification

The correlation between Pimco Income Fund and DJI is 0.89 (i.e., Very poor 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 state.

Moving together with Pimco Mutual Fund

  0.73PWLEX Pimco Rae WorldwidePairCorr
  0.75PWLMX Pimco Rae WorldwidePairCorr
  0.74PWLIX Pimco Rae WorldwidePairCorr
  0.72PFBPX Pimco Foreign BondPairCorr
  0.9PFCJX Pimco Preferred AndPairCorr
  0.87PFATX Pimco FundamentalPairCorr
  0.91PFANX Pimco Capital SecPairCorr
  0.96PFIAX Pimco Floating IncomePairCorr
  0.99PFIIX Pimco Floating IncomePairCorr
  0.99PFIUX Pimco Unconstrained BondPairCorr
  0.93PFINX Pimco Capital SecPairCorr
  0.85PFMIX Municipal BondPairCorr
  0.96PFNCX Pimco Floating IncomePairCorr
  0.72PFONX Pimco International BondPairCorr
  0.72PFORX Pimco Foreign BondPairCorr
  0.93PFNNX Pimco Preferred AndPairCorr
  0.98PFNIX Pimco Low DurationPairCorr
  0.75PFRCX Foreign BondPairCorr
  0.68PFRAX Pimco Foreign BondPairCorr
  0.89PFRMX Pimco Inflation ResponsePairCorr
  0.93PFPNX Pimco Capital SecPairCorr
  0.94PFTCX Short Term FundPairCorr
  0.98PFTPX Pimco Floating IncomePairCorr
  0.67PFRRX Pimco Foreign BondPairCorr
  0.95PFSIX Pimco Emerging MarketsPairCorr
  0.81PFUUX Pimco Foreign BondPairCorr
  0.78PFUAX Foreign BondPairCorr
  0.82PFUIX Foreign BondPairCorr
  0.82PFUNX Pimco International BondPairCorr
  0.82PFUPX Pimco Foreign BondPairCorr
  0.95PGAPX Pimco Global MultiPairCorr
  0.89PXTIX Fundamental IndexplusPairCorr
  0.91PXTNX Pimco Rae PlusPairCorr
  0.99PGBIX Global Bond FundPairCorr
  0.95PGAIX Pimco Global MultiPairCorr

Moving against Pimco Mutual Fund

  0.41PFGCX Long Term GovernmentPairCorr
  0.38PFGAX Long Term GovernmentPairCorr
  0.6PGOVX Long Term GovernmentPairCorr

Related Correlations Analysis


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.

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