Payden Rygel Correlations

Mutual Funds . USA . 
Fund . The Payden Rygel
PYCTX Fund  USD 9.76  0.01  0.10%   
The current 90-days correlation between Payden Rygel and Ultra Short Term Fixed is 0.04 (i.e., Significant diversification). The correlation of Payden Rygel 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 Rygel Correlation With Market

Weak diversification

The correlation between The Payden Rygel and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Payden Rygel 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 The Payden Rygel. 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 estimate.

Moving together with Payden Mutual Fund

  1.0PYAYX Payden Corporate BondPairCorr
  0.86PYBLX Payden Floating RatePairCorr
  0.97PYABX Payden Absolute ReturnPairCorr
  1.0PYACX Payden Porate BondPairCorr
  0.96PYAIX Payden Absolute ReturnPairCorr
  0.97PYARX Payden Absolute ReturnPairCorr
  0.96PYCEX Payden Emerging MarketsPairCorr
  0.93PYCHX Payden RegalPairCorr
  0.98PYCBX Payden E BondPairCorr
  0.96PYCIX Payden Emerging MarketsPairCorr
  0.79PYCLX Payden CaliforniaPairCorr
  0.98PYCWX Payden E BondPairCorr
  0.98PYCSX Payden Core BondPairCorr
  0.8PYCRX Payden CaliforniaPairCorr
  0.87PYFIX Payden Floating RatePairCorr
  0.86PYFRX Payden Floating RatePairCorr
  0.95PYEIX Payden Emerging MarketsPairCorr
  0.93PYELX Payden Emerging MarketsPairCorr
  0.95PYEMX Payden Emerging MarketsPairCorr
  0.95PYEWX Payden Emerging MarketsPairCorr
  0.93PYHRX Payden High IncomePairCorr
  0.98PYGFX Payden Global FixedPairCorr
  0.87PYGNX Payden Gnma FundPairCorr
  0.95PYGIX Payden Global FixedPairCorr
  0.97PYGSX Payden Global LowPairCorr
  0.93PYILX Payden Rygel InvestmentPairCorr
  0.9PYLMX Payden Limited MaturityPairCorr
  0.95PYLWX Payden Low DurationPairCorr
  0.87PYLSX Payden Limited MaturityPairCorr
  0.9PYLBX Payden Limited MaturityPairCorr
  0.95PYLDX Payden RygelPairCorr
  0.89PYSFX Payden Securitized IncomePairCorr
  0.99PYSGX Payden Strategic IncomePairCorr
  0.94PYSBX Payden Low DurationPairCorr
  0.98PYSIX Payden Strategic IncomePairCorr
  0.93PYRLX Payden High IncomePairCorr
  0.92PYUSX Payden GovernmentPairCorr
  0.85PYVAX Payden Equity IncomePairCorr
  0.85PYVLX Payden Equity IncomePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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