Total Return Correlations

Mutual Funds . USA . 
Fund . Total Return Fund
PMBIX Fund  USD 8.33  0.02  0.24%   
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 0.11 (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

  0.94PLCPX Pimco Long TermPairCorr
  0.75PMZCX Pimco Mortgage OpporPairCorr
  0.61PNYPX Pimco New YorkPairCorr
  0.93PRRRX Real Return FundPairCorr
  0.86PBDCX Investment Grade PoratePairCorr
  0.99PTRRX Total ReturnPairCorr
  0.81VBTLX Vanguard Total BondPairCorr
  0.98VBMFX Vanguard Total BondPairCorr
  0.99VBTIX Vanguard Total BondPairCorr
  0.81VTBSX Vanguard Total BondPairCorr
  0.82VTBIX Vanguard Total BondPairCorr
  0.82VTBNX Vanguard Total BondPairCorr
  0.98FBOFX American FundsPairCorr
  0.98FFBOX American FundsPairCorr

Related Correlations Analysis

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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.

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