Payden Gnma Correlations

Mutual Funds . USA . 
Fund . Payden Gnma Fund
PYGNX Fund  USD 7.59  0.02  0.26%   
The current 90-days correlation between Payden Gnma Fund and Dodge Global Stock is 0.13 (i.e., Average diversification). The correlation of Payden Gnma 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 Gnma Correlation With Market

Significant diversification

The correlation between Payden Gnma Fund and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Gnma Fund 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 Gnma Fund. 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 board of governors.

Moving together with Payden Mutual Fund

  0.86PYAYX Payden Corporate BondPairCorr
  0.79PYABX Payden Absolute ReturnPairCorr
  0.87PYACX Payden Porate BondPairCorr
  0.77PYAIX Payden Absolute ReturnPairCorr
  0.77PYARX Payden Absolute ReturnPairCorr
  0.73PYCEX Payden Emerging MarketsPairCorr
  0.66PYCHX Payden RegalPairCorr
  0.93PYCBX Payden E BondPairCorr
  0.72PYCIX Payden Emerging MarketsPairCorr
  0.71PYCLX Payden CaliforniaPairCorr
  0.94PYCWX Payden E BondPairCorr
  0.93PYCSX Payden Core BondPairCorr
  0.69PYCRX Payden CaliforniaPairCorr
  0.87PYCTX Payden RygelPairCorr
  0.72PYEIX Payden Emerging MarketsPairCorr
  0.69PYELX Payden Emerging MarketsPairCorr
  0.71PYEMX Payden Emerging MarketsPairCorr
  0.72PYEWX Payden Emerging MarketsPairCorr
  0.67PYHRX Payden High IncomePairCorr
  0.9PYGFX Payden Global FixedPairCorr
  0.9PYGIX Payden Global FixedPairCorr
  0.81PYGSX Payden Global LowPairCorr
  0.69PYILX Payden Rygel InvestmentPairCorr
  0.67PYLMX Payden Limited MaturityPairCorr
  0.84PYLWX Payden Low DurationPairCorr
  0.67PYLSX Payden Limited MaturityPairCorr
  0.66PYLBX Payden Limited MaturityPairCorr
  0.82PYLDX Payden RygelPairCorr
  0.8PYSGX Payden Strategic IncomePairCorr
  0.82PYSBX Payden Low DurationPairCorr
  0.8PYSIX Payden Strategic IncomePairCorr
  0.81PYSLX Payden Strategic IncomePairCorr
  0.79PYUSX Payden GovernmentPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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