Foreign Bond Correlations

Mutual Funds . USA . 
Fund . Foreign Bond Fund
PFRCX Fund  USD 7.52  0.05  0.67%   
The current 90-days correlation between Foreign Bond and Gamco Global Gold is 0.16 (i.e., Average diversification). The correlation of Foreign Bond 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.

Foreign Bond Correlation With Market

Very good diversification

The correlation between Foreign Bond Fund and DJI is -0.22 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Foreign Bond 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 Foreign Bond 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 main economic indicators.

Moving together with Foreign Mutual Fund

  1.0PFUAX Foreign BondPairCorr
  1.0PFUNX Pimco International BondPairCorr
  1.0PFUPX Pimco Foreign BondPairCorr
  0.74PGBIX Global Bond FundPairCorr
  0.9PGCAX Investment Grade PoratePairCorr
  0.9PGOVX Long Term GovernmentPairCorr
  0.9PIGIX Investment Grade PoratePairCorr
  0.75PIINX Pimco IncomePairCorr
  0.76PIMIX Pimco IncomePairCorr
  0.75PIPNX Pimco IncomePairCorr
  0.7PLDIX Low DurationPairCorr
  0.82PLDRX Low DurationPairCorr
  0.86PLMIX Pimco Emerging MarketsPairCorr
  0.86PLMPX Pimco Emerging MarketsPairCorr
  0.9PLRIX Pimco Long TermPairCorr
  0.9PLRPX Pimco Long DurationPairCorr
  0.7PLUPX Pimco Low DurationPairCorr

Moving against Foreign Mutual Fund

  0.83PFTCX Short Term FundPairCorr
  0.48PXTIX Fundamental IndexplusPairCorr
  0.74PMJPX Pimco Rae FundamentalPairCorr

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   
UIPMX
+ 0.99
GLDAX
USERX
+ 0.99
FRGOX
FRGOX
+ 0.98
GLDAX
USERX
+ 0.98
GLDAX
UIPMX
+ 0.97
FRGOX
USERX
+ 0.97
UIPMX
  
High negative correlations   
UIPMX
- 0.99
SPPIX
GLDAX
- 0.96
SPPIX
USERX
- 0.93
SPPIX
FRGOX
- 0.92
SPPIX
SPPIX
- 0.88
XGGNX

Risk-Adjusted Indicators

There is a big difference between Foreign Mutual Fund performing well and Foreign Bond 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 Foreign Bond'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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