Correlation Between Pimco Global and California Intermediate
Can any of the company-specific risk be diversified away by investing in both Pimco Global and California Intermediate at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Pimco Global and California Intermediate into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Pimco Global Multi Asset and California Intermediate Municipal, you can compare the effects of market volatilities on Pimco Global and California Intermediate and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Pimco Global with a short position of California Intermediate. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pimco Global and California Intermediate.
Diversification Opportunities for Pimco Global and California Intermediate
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Pimco and CALIFORNIA is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Global Multi Asset and California Intermediate Munici in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on California Intermediate and Pimco Global is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Pimco Global Multi Asset are associated (or correlated) with California Intermediate. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of California Intermediate has no effect on the direction of Pimco Global i.e., Pimco Global and California Intermediate go up and down completely randomly.
Pair Corralation between Pimco Global and California Intermediate
If you would invest 907.00 in California Intermediate Municipal on June 3, 2025 and sell it today you would earn a total of 14.00 from holding California Intermediate Municipal or generate 1.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Pimco Global Multi Asset vs. California Intermediate Munici
Performance |
| Timeline |
| Pimco Global Multi |
Risk-Adjusted Performance
Solid
Weak | Strong |
| California Intermediate |
Pimco Global and California Intermediate Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Pimco Global and California Intermediate
The main advantage of trading using opposite Pimco Global and California Intermediate positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pimco Global position performs unexpectedly, California Intermediate can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in California Intermediate will offset losses from the drop in California Intermediate's long position.| Pimco Global vs. Smallcap Fund Fka | Pimco Global vs. Lebenthal Lisanti Small | Pimco Global vs. Artisan Small Cap | Pimco Global vs. Old Westbury Small |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
Other Complementary Tools
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device |