Pimco Capital Correlations

Mutual Funds . USA . 
Fund . Pimco Capital Sec
PFANX Fund  USD 9.36  0.02  0.21%   
The current 90-days correlation between Pimco Capital Sec and Nuveen Preferred Securities is 0.7 (i.e., Poor diversification). The correlation of Pimco Capital 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 Capital Correlation With Market

Average diversification

The correlation between Pimco Capital Sec and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pimco Capital Sec 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 Capital Sec. 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 board of governors.

Moving together with Pimco Mutual Fund

  0.67PFBPX Pimco Foreign BondPairCorr
  0.97PFCJX Pimco Preferred AndPairCorr
  0.61PFIAX Pimco Floating IncomePairCorr
  0.68PFIIX Pimco Floating IncomePairCorr
  0.88PFIUX Pimco Unconstrained BondPairCorr
  1.0PFINX Pimco Capital SecPairCorr
  0.67PFNCX Pimco Floating IncomePairCorr
  0.67PFONX Pimco International BondPairCorr
  0.67PFORX Pimco Foreign BondPairCorr
  0.97PFNNX Pimco Preferred AndPairCorr
  0.61PFNIX Pimco Low DurationPairCorr
  0.89PFNUX Pimco Dynamic BondPairCorr
  0.64PFOAX Pimco Foreign BondPairCorr
  0.64PFOCX Pimco Foreign BondPairCorr
  0.67PFRAX Pimco Foreign BondPairCorr
  0.98PFPNX Pimco Capital SecPairCorr
  0.62PFTCX Short Term FundPairCorr
  0.61PFTPX Pimco Floating IncomePairCorr
  0.66PFRRX Pimco Foreign BondPairCorr
  0.79PGAPX Pimco Global MultiPairCorr
  0.68PXTIX Fundamental IndexplusPairCorr
  0.7PXTNX Pimco Rae PlusPairCorr

Moving against Pimco Mutual Fund

  0.48PFGAX Long Term GovernmentPairCorr
  0.48PFGCX Long Term GovernmentPairCorr
  0.47PGOVX Long Term GovernmentPairCorr

Related Correlations Analysis

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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   
CPXAX
+ 0.95
NPSAX
ANBEX
+ 0.86
PONAX
PFIAX
+ 0.73
NPSAX
PFIAX
+ 0.68
CPXAX
PFIAX
+ 0.54
PONAX
PONAX
+ 0.18
NPSAX
  
High negative correlations   
ANBEX
- 0.16
NPSAX
ANBEX
- 0.15
CPXAX

Risk-Adjusted Indicators

There is a big difference between Pimco Mutual Fund performing well and Pimco Capital 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 Capital'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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