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Correlation Between Performance Trust and PIMCO Income

Analyzing existing cross correlation between Performance Trust Strategic Bon and PIMCO Income Fund Class R. You can compare the effects of market volatilities on Performance Trust and PIMCO Income and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Performance Trust with a short position of PIMCO Income. Check out your portfolio center. Please also check ongoing floating volatility patterns of Performance Trust and PIMCO Income.

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Diversification Opportunities for Performance Trust and PIMCO Income

Performance Trust Strategic Bo diversification synergy
0.61
PE
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Poor diversification

The 3 months correlation between Performance and PIMCO is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding Performance Trust Strategic Bo and PIMCO Income Fund Class R in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on PIMCO Income Fund and Performance Trust is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Performance Trust Strategic Bon are associated (or correlated) with PIMCO Income. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PIMCO Income Fund has no effect on the direction of Performance Trust i.e. Performance Trust and PIMCO Income go up and down completely randomly.

Pair Corralation between Performance Trust and PIMCO Income

Assuming 30 trading days horizon, Performance Trust Strategic Bon is expected to generate 1.69 times more return on investment than PIMCO Income. However, Performance Trust is 1.69 times more volatile than PIMCO Income Fund Class R. It trades about 0.1 of its potential returns per unit of risk. PIMCO Income Fund Class R is currently generating about 0.14 per unit of risk. If you would invest  2,294  in Performance Trust Strategic Bon on January 24, 2020 and sell it today you would earn a total of  27.00  from holding Performance Trust Strategic Bon or generate 1.18% return on investment over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthSignificant
Accuracy98.48%
ValuesDaily Returns

Performance Trust Strategic Bo  vs.  PIMCO Income Fund Class R

 Performance (%) 
    
  Timeline 
Performance Trust 
66

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Performance Trust Strategic Bon are ranked lower than 6 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly strong basic indicators, Performance Trust is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
PIMCO Income Fund 
99

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in PIMCO Income Fund Class R are ranked lower than 9 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly strong basic indicators, PIMCO Income is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

Performance Trust and PIMCO Income Volatility Contrast

 Predicted Return Density 
    
  Returns 
Check out your portfolio center. Please also try Fundamentals Matrix module to view fundamentals matrix and analyze how accounts are interrelated and interconnected with each other.