Payden High Correlations

Mutual Funds . USA . 
Fund . Payden High Income
PYRLX Fund   12.71  0.02  0.16%   
The current 90-days correlation between Payden High Income and Auer Growth Fund is -0.06 (i.e., Good diversification). The correlation of Payden High 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 High Correlation With Market

Very good diversification

The correlation between Payden High Income and DJI is -0.26 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden High Income 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 High Income. 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
  0.98PYBLX Payden Floating RatePairCorr
  0.95PYABX Payden Absolute ReturnPairCorr
  0.92PYACX Payden Porate BondPairCorr
  0.96PYAIX Payden Absolute ReturnPairCorr
  0.96PYARX Payden Absolute ReturnPairCorr
  0.98PYCEX Payden Emerging MarketsPairCorr
  1.0PYCHX Payden RegalPairCorr
  0.86PYCBX Payden E BondPairCorr
  0.98PYCIX Payden Emerging MarketsPairCorr
  0.76PYCLX Payden CaliforniaPairCorr
  0.85PYCWX Payden E BondPairCorr
  0.84PYCSX Payden Core BondPairCorr
  0.8PYCRX Payden CaliforniaPairCorr
  0.94PYCTX Payden RygelPairCorr
  0.98PYFIX Payden Floating RatePairCorr
  0.98PYFRX Payden Floating RatePairCorr
  0.99PYEIX Payden Emerging MarketsPairCorr
  0.97PYELX Payden Emerging MarketsPairCorr
  0.99PYEMX Payden Emerging MarketsPairCorr
  0.99PYEWX Payden Emerging MarketsPairCorr
  0.99PYHRX Payden High IncomePairCorr
  0.88PYGFX Payden Global FixedPairCorr
  0.65PYGNX Payden Gnma FundPairCorr
  0.87PYGIX Payden Global FixedPairCorr
  0.94PYGSX Payden Global LowPairCorr
  0.97PYILX Payden Rygel InvestmentPairCorr
  0.96PYLMX Payden Limited MaturityPairCorr
  0.91PYLWX Payden Low DurationPairCorr
  0.95PYLSX Payden Limited MaturityPairCorr
  0.96PYLBX Payden Limited MaturityPairCorr
  0.92PYLDX Payden RygelPairCorr
  0.98PYSFX Payden Securitized IncomePairCorr
  0.96PYSGX Payden Strategic IncomePairCorr
  0.91PYSBX Payden Low DurationPairCorr
  0.96PYSIX Payden Strategic IncomePairCorr
  0.81PYUSX Payden GovernmentPairCorr
  0.95PYVAX Payden Equity IncomePairCorr
  0.95PYVLX 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 High 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 High'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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