PIMCO Monthly Correlations

0P0000S9O7

CAD 12.50 0.03 0.24%

The current 90-days correlation between PIMCO Monthly Income and iShares Canadian HYBrid is 0.06 (i.e., Significant diversification). The correlation of PIMCO Monthly 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 Monthly Correlation With Market

Average diversification

The correlation between PIMCO Monthly Income and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PIMCO Monthly Income and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to PIMCO Monthly could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace PIMCO Monthly when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back PIMCO Monthly - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling PIMCO Monthly Income to buy it.

Moving against PIMCO Fund

0.62	0P0000733H	RBC Global Technology	Pair Corr
0.62	0P00007138	RBC sciences biologiques	Pair Corr
0.57	0P0001AAKP	CI Signature Cat	Pair Corr
0.55	0P000070HA	CI Global Alpha	Pair Corr
0.54	0P000070JI	Fidelity Technology	Pair Corr

Related Correlations Analysis

	0P0000S9O7	XHB	ALA-PA	ERE-UN	CLU	RUDB	BN-PFI	XEG	SOLI-P	FLSA
0P0000S9O7		-0.19	-0.12	-0.33	-0.35	-0.58	0.02	-0.18	0.0	-0.56	0P0000S9O7
XHB	-0.19		0.76	0.82	0.58	0.81	0.7	-0.32	0.0	0.81	XHB
ALA-PA	-0.12	0.76		0.74	0.35	0.76	0.9	-0.31	0.0	0.65	ALA-PA
ERE-UN	-0.33	0.82	0.74		0.68	0.77	0.72	-0.12	0.0	0.83	ERE-UN
CLU	-0.35	0.58	0.35	0.68		0.48	0.31	0.37	0.0	0.82	CLU
RUDB	-0.58	0.81	0.76	0.77	0.48		0.64	-0.24	0.0	0.87	RUDB
BN-PFI	0.02	0.7	0.9	0.72	0.31	0.64		-0.21	0.0	0.55	BN-PFI
XEG	-0.18	-0.32	-0.31	-0.12	0.37	-0.24	-0.21		0.0	0.04	XEG
SOLI-P	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SOLI-P
FLSA	-0.56	0.81	0.65	0.83	0.82	0.87	0.55	0.04	0.0		FLSA
	0P0000S9O7	XHB	ALA-PA	ERE-UN	CLU	RUDB	BN-PFI	XEG	SOLI-P	FLSA

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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

BN-PFI	+ 0.9	ALA-PA
FLSA	+ 0.87	RUDB
FLSA	+ 0.83	ERE-UN
ERE-UN	+ 0.82	XHB
FLSA	+ 0.82	CLU
RUDB	+ 0.81	XHB

High negative correlations

RUDB	- 0.58	0P0000S9O7
FLSA	- 0.56	0P0000S9O7
CLU	- 0.35	0P0000S9O7
ERE-UN	- 0.33	0P0000S9O7
XEG	- 0.32	XHB
XEG	- 0.31	ALA-PA

Risk-Adjusted Indicators

There is a big difference between PIMCO Fund performing well and PIMCO Monthly 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 Monthly'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
0P0000S9O7	0.15	(0.05)	0.00	(1.25)	0.00	0.00	0.23	(0.47)	1.11
XHB	0.22	0.02	0.00	0.13	0.11	(0.29)	0.51	(0.35)	1.52
ALA-PA	0.50	0.08	0.08	0.49	0.57	(0.58)	1.15	(1.06)	3.73
ERE-UN	1.21	0.23	0.18	0.17	1.04	(1.65)	2.30	(1.58)	20.23
CLU	0.47	0.00	(0.01)	0.02	0.56	(0.72)	1.02	(0.97)	5.88
RUDB	0.26	0.06	0.07	(0.52)	0.24	(0.30)	0.70	(0.47)	1.96
BN-PFI	0.50	0.05	0.04	(3.88)	0.53	(0.61)	1.10	(1.09)	2.73
XEG	1.14	(0.06)	0.00	(2.42)	0.00	0.00	2.20	(2.24)	8.20
SOLI-P	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FLSA	0.43	0.06	0.08	0.25	0.46	(0.49)	0.84	(0.85)	3.52

Be your own money manager

Our tools can tell you how much better you can do entering a position in PIMCO Monthly without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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