Payden Emerging Correlations

Mutual Funds . USA . 
Fund . Payden Emerging Markets
PYEMX Fund  USD 10.60  0.02  0.19%   
The current 90-days correlation between Payden Emerging Markets and Astor Longshort Fund is 0.56 (i.e., Very weak diversification). The correlation of Payden Emerging 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 Emerging Correlation With Market

Very weak diversification

The correlation between Payden Emerging Markets and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Emerging Markets 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 Emerging Markets. 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 population.

Moving together with Payden Mutual Fund

  0.95PYAYX Payden Corporate BondPairCorr
  0.96PYBLX Payden Floating RatePairCorr
  0.96PYABX Payden Absolute ReturnPairCorr
  0.95PYACX Payden Porate BondPairCorr
  0.97PYAIX Payden Absolute ReturnPairCorr
  0.97PYARX Payden Absolute ReturnPairCorr
  0.99PYCEX Payden Emerging MarketsPairCorr
  0.99PYCHX Payden RegalPairCorr
  0.89PYCBX Payden E BondPairCorr
  0.99PYCIX Payden Emerging MarketsPairCorr
  0.78PYCLX Payden CaliforniaPairCorr
  0.89PYCWX Payden E BondPairCorr
  0.88PYCSX Payden Core BondPairCorr
  0.81PYCRX Payden CaliforniaPairCorr
  0.95PYCTX Payden RygelPairCorr
  0.97PYFIX Payden Floating RatePairCorr
  0.96PYFRX Payden Floating RatePairCorr
  1.0PYEIX Payden Emerging MarketsPairCorr
  0.98PYELX Payden Emerging MarketsPairCorr
  1.0PYEWX Payden Emerging MarketsPairCorr
  0.99PYHRX Payden High IncomePairCorr
  0.89PYGFX Payden Global FixedPairCorr
  0.71PYGNX Payden Gnma FundPairCorr
  0.89PYGIX Payden Global FixedPairCorr
  0.95PYGSX Payden Global LowPairCorr
  0.98PYILX Payden Rygel InvestmentPairCorr
  0.96PYLMX Payden Limited MaturityPairCorr
  0.93PYLWX Payden Low DurationPairCorr
  0.96PYLSX Payden Limited MaturityPairCorr
  0.93PYLDX Payden RygelPairCorr
  0.97PYSFX Payden Securitized IncomePairCorr
  0.98PYSGX Payden Strategic IncomePairCorr
  0.93PYSBX Payden Low DurationPairCorr
  0.98PYSIX Payden Strategic IncomePairCorr
  0.99PYRLX Payden High IncomePairCorr
  0.83PYUSX Payden GovernmentPairCorr
  0.94PYVAX Payden Equity IncomePairCorr
  0.94PYVLX Payden Equity IncomePairCorr
  0.94PYVSX 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 Emerging 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 Emerging'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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