Payden Rygel Correlations

Mutual Funds . USA . 
Fund . Payden Rygel Investment
PYILX Fund  USD 9.67  0.03  0.31%   
The current 90-days correlation between Payden Rygel Investment and Wells Fargo Diversified is -0.12 (i.e., Good 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

Significant diversification

The correlation between Payden Rygel Investment 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 Rygel Investment 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 Rygel Investment. 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 economic analysis.

Moving together with Payden Mutual Fund

  0.93PYAYX Payden Corporate BondPairCorr
  0.95PYBLX Payden Floating RatePairCorr
  0.96PYABX Payden Absolute ReturnPairCorr
  0.93PYACX Payden Porate BondPairCorr
  0.97PYAIX Payden Absolute ReturnPairCorr
  0.97PYARX Payden Absolute ReturnPairCorr
  0.96PYCEX Payden Emerging MarketsPairCorr
  0.97PYCHX Payden RegalPairCorr
  0.87PYCBX Payden E BondPairCorr
  0.97PYCIX Payden Emerging MarketsPairCorr
  0.69PYCLX Payden CaliforniaPairCorr
  0.86PYCWX Payden E BondPairCorr
  0.85PYCSX Payden Core BondPairCorr
  0.92PYCTX Payden RygelPairCorr
  0.95PYFIX Payden Floating RatePairCorr
  0.95PYFRX Payden Floating RatePairCorr
  0.98PYEIX Payden Emerging MarketsPairCorr
  1.0PYELX Payden Emerging MarketsPairCorr
  0.98PYEMX Payden Emerging MarketsPairCorr
  0.98PYEWX Payden Emerging MarketsPairCorr
  0.97PYHRX Payden High IncomePairCorr
  0.87PYGFX Payden Global FixedPairCorr
  0.72PYGNX Payden Gnma FundPairCorr
  0.87PYGIX Payden Global FixedPairCorr
  0.93PYGSX Payden Global LowPairCorr
  0.96PYLMX Payden Limited MaturityPairCorr
  0.94PYLWX Payden Low DurationPairCorr
  0.96PYLSX Payden Limited MaturityPairCorr
  0.96PYLBX Payden Limited MaturityPairCorr
  0.96PYSFX Payden Securitized IncomePairCorr
  0.96PYSGX Payden Strategic IncomePairCorr
  0.94PYSBX Payden Low DurationPairCorr
  0.97PYRLX Payden High IncomePairCorr
  0.85PYUSX Payden GovernmentPairCorr
  0.92PYVAX Payden Equity IncomePairCorr
  0.92PYVLX Payden Equity IncomePairCorr
  0.92PYVSX Payden Equity IncomePairCorr
  0.98PKCIX Payden/kravitz CashPairCorr
  0.96PKCRX 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 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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