PIMCO Canadian Correlations
| CORE Fund | 20.12 0.05 0.25% |
The current 90-days correlation between PIMCO Canadian Core and RBC Select Balanced is 0.24 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as PIMCO Canadian moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if PIMCO Canadian Core moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
PIMCO Canadian Correlation With Market
Good diversification
The correlation between PIMCO Canadian Core and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PIMCO Canadian Core and DJI in the same portfolio, assuming nothing else is changed.
PIMCO |
The ability to find closely correlated positions to PIMCO Canadian 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 Canadian 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 Canadian - 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 Canadian Core to buy it.
Moving together with PIMCO Fund
| 0.73 | 0P0001FAU8 | TD Comfort Balanced | PairCorr |
Related Correlations Analysis
| -0.3 | 1.0 | 0.88 | 0.96 | 0.85 | 0P0000706A | ||
| -0.3 | -0.36 | -0.18 | -0.12 | -0.28 | 0P0000S9O7 | ||
| 1.0 | -0.36 | 0.87 | 0.94 | 0.86 | 0P00007069 | ||
| 0.88 | -0.18 | 0.87 | 0.87 | 0.87 | 0P0000IUYO | ||
| 0.96 | -0.12 | 0.94 | 0.87 | 0.83 | 0P0001FAU8 | ||
| 0.85 | -0.28 | 0.86 | 0.87 | 0.83 | 0P00012UCU | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between PIMCO Fund performing well and PIMCO Canadian 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 Canadian'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 0P0000706A | 0.26 | 0.02 | 0.00 | 0.15 | 0.30 | 0.54 | 2.08 | |||
| 0P0000S9O7 | 0.16 | (0.07) | 0.00 | (1.96) | 0.00 | 0.23 | 1.11 | |||
| 0P00007069 | 0.31 | 0.03 | 0.02 | 0.16 | 0.35 | 0.60 | 2.49 | |||
| 0P0000IUYO | 0.52 | (0.04) | 0.00 | (0.16) | 0.00 | 1.07 | 2.65 | |||
| 0P0001FAU8 | 0.24 | (0.01) | (0.09) | (0.07) | 0.34 | 0.53 | 1.76 | |||
| 0P00012UCU | 0.69 | (0.06) | 0.00 | (0.45) | 0.00 | 1.14 | 11.95 |
PIMCO Canadian Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with PIMCO Canadian fund to make a market-neutral strategy. Peer analysis of PIMCO Canadian could also be used in its relative valuation, which is a method of valuing PIMCO Canadian by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |