Payden Core Correlations

Mutual Funds . USA . 
Fund . Payden E Bond
PYCBX Fund  USD 9.22  0.02  0.22%   
The current 90-days correlation between Payden E Bond and Fdzbpx is 0.05 (i.e., Significant diversification). The correlation of Payden Core 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.

Payden Core Correlation With Market

Significant diversification

The correlation between Payden E Bond and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden E Bond 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 Payden E Bond. 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 bureau of labor statistics.

Moving together with Payden Mutual Fund

  0.98PYAYX Payden Corporate BondPairCorr
  0.76PYBLX Payden Floating RatePairCorr
  0.94PYABX Payden Absolute ReturnPairCorr
  0.98PYACX Payden Porate BondPairCorr
  0.93PYAIX Payden Absolute ReturnPairCorr
  0.94PYARX Payden Absolute ReturnPairCorr
  0.89PYCEX Payden Emerging MarketsPairCorr
  0.85PYCHX Payden RegalPairCorr
  0.9PYCIX Payden Emerging MarketsPairCorr
  0.67PYCLX Payden CaliforniaPairCorr
  0.95PYCWX Payden E BondPairCorr
  0.95PYCSX Payden Core BondPairCorr
  0.94PYCTX Payden RygelPairCorr
  0.77PYFIX Payden Floating RatePairCorr
  0.76PYFRX Payden Floating RatePairCorr
  0.89PYEIX Payden Emerging MarketsPairCorr
  0.87PYELX Payden Emerging MarketsPairCorr
  0.88PYEMX Payden Emerging MarketsPairCorr
  0.89PYEWX Payden Emerging MarketsPairCorr
  0.85PYHRX Payden High IncomePairCorr
  0.95PYGFX Payden Global FixedPairCorr
  0.9PYGNX Payden Gnma FundPairCorr
  0.95PYGIX Payden Global FixedPairCorr
  0.92PYGSX Payden Global LowPairCorr
  0.87PYILX Payden Rygel InvestmentPairCorr
  0.82PYLMX Payden Limited MaturityPairCorr
  0.94PYLWX Payden Low DurationPairCorr
  0.82PYLSX Payden Limited MaturityPairCorr
  0.82PYLBX Payden Limited MaturityPairCorr
  0.8PYSFX Payden Securitized IncomePairCorr
  0.92PYSGX Payden Strategic IncomePairCorr
  0.86PYSBX Payden Low DurationPairCorr
  0.85PYRLX Payden High IncomePairCorr
  0.95PYUSX Payden GovernmentPairCorr
  0.73PYVAX Payden Equity IncomePairCorr
  0.73PYVLX Payden Equity IncomePairCorr
  0.73PYVSX Payden Equity IncomePairCorr
  0.91PKCIX Payden/kravitz CashPairCorr
  0.89PKCRX Payden/kravitz CashPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Payden Mutual Fund performing well and Payden Core 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 Payden Core'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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