All Asset Correlations
| PAAIX Fund | USD 10.81 0.07 0.64% |
The correlation of All Asset 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as All Asset moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if All Asset Fund moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Significant diversification
The correlation between All Asset Fund and NYA is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding All Asset Fund and NYA in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to All Asset could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace All Asset 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 All Asset - 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 All Asset Fund to buy it.
Moving together with All Mutual Fund
| 0.85 | PWLEX | Pimco Rae Worldwide | PairCorr |
| 0.86 | PWLBX | Pimco Rae Worldwide | PairCorr |
| 0.86 | PWLMX | Pimco Rae Worldwide | PairCorr |
| 0.86 | PWLIX | Pimco Rae Worldwide | PairCorr |
| 0.9 | PFBPX | Pimco Foreign Bond | PairCorr |
| 0.91 | PFCJX | Pimco Preferred And | PairCorr |
| 0.82 | PFATX | Pimco Fundamental | PairCorr |
| 0.91 | PFANX | Pimco Capital Sec | PairCorr |
| 0.94 | PFIAX | Pimco Floating Me | PairCorr |
| 0.91 | PFIIX | Pimco Floating Me | PairCorr |
| 0.89 | PFIUX | Pimco Unconstrained Bond | PairCorr |
| 0.91 | PFINX | Pimco Capital Sec | PairCorr |
| 0.69 | PFMIX | Municipal Bond | PairCorr |
| 0.88 | PFORX | Pimco Foreign Bond | PairCorr |
| 0.91 | PFNNX | Pimco Preferred And | PairCorr |
| 0.91 | PFNIX | Pimco Low Duration | PairCorr |
| 0.9 | PFNUX | Pimco Dynamic Bond | PairCorr |
| 0.89 | PFOAX | Pimco Foreign Bond | PairCorr |
Related Correlations Analysis
Please specify at least 3 valid symbols having historical data to build a meaningful correlation cloud. You can use symbol search above to locate your securities.
Be your own money manager
Our tools can tell you how much better you can do entering a position in All Asset 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.Did you try this?
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Already Invested in All Asset Fund?
The danger of trading All Asset Fund is mainly related to its market volatility and Mutual Fund specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of All Asset is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than All Asset. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile All Asset Fund is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in All Asset Fund. Also, note that the market value of any mutual fund could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. You can also try the Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..