Payden Global Correlations

Mutual Funds . USA . 
Fund . Payden Global Fixed
PYGFX Fund  USD 7.64  0.01  0.13%   
The current 90-days correlation between Payden Global Fixed and Fpa Queens Road is 0.1 (i.e., Average diversification). The correlation of Payden Global 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 Global Correlation With Market

Average diversification

The correlation between Payden Global Fixed and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Global Fixed 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 Global Fixed. 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 census.

Moving together with Payden Mutual Fund

  0.98PYAYX Payden Corporate BondPairCorr
  0.78PYBLX Payden Floating RatePairCorr
  0.94PYABX Payden Absolute ReturnPairCorr
  0.97PYACX Payden Porate BondPairCorr
  0.94PYAIX Payden Absolute ReturnPairCorr
  0.94PYARX Payden Absolute ReturnPairCorr
  0.91PYCEX Payden Emerging MarketsPairCorr
  0.86PYCHX Payden RegalPairCorr
  0.99PYCBX Payden E BondPairCorr
  0.91PYCIX Payden Emerging MarketsPairCorr
  0.76PYCLX Payden CaliforniaPairCorr
  0.98PYCWX Payden E BondPairCorr
  0.99PYCSX Payden Core BondPairCorr
  0.77PYCRX Payden CaliforniaPairCorr
  0.98PYCTX Payden RygelPairCorr
  0.78PYFIX Payden Floating RatePairCorr
  0.78PYFRX Payden Floating RatePairCorr
  0.9PYEIX Payden Emerging MarketsPairCorr
  0.9PYELX Payden Emerging MarketsPairCorr
  0.89PYEMX Payden Emerging MarketsPairCorr
  0.9PYEWX Payden Emerging MarketsPairCorr
  0.87PYHRX Payden High IncomePairCorr
  0.9PYGNX Payden Gnma FundPairCorr
  1.0PYGIX Payden Global FixedPairCorr
  0.94PYGSX Payden Global LowPairCorr
  0.89PYILX Payden Rygel InvestmentPairCorr
  0.84PYLMX Payden Limited MaturityPairCorr
  0.94PYLWX Payden Low DurationPairCorr
  0.84PYLSX Payden Limited MaturityPairCorr
  0.84PYLBX Payden Limited MaturityPairCorr
  0.92PYLDX Payden RygelPairCorr
  0.83PYSFX Payden Securitized IncomePairCorr
  0.95PYSGX Payden Strategic IncomePairCorr
  0.92PYSBX Payden Low DurationPairCorr
  0.95PYSIX Payden Strategic IncomePairCorr
  0.95PYSLX Payden Strategic IncomePairCorr
  0.87PYRLX Payden High IncomePairCorr
  0.94PYUSX Payden GovernmentPairCorr
  0.75PYVAX 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 Global 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 Global'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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