Payden Securitized Correlations

Mutual Funds . USA . 
Fund . Payden Securitized Income
PYSFX Fund   10.04  0.01  0.1%   
The current 90-days correlation between Payden Securitized Income and American Funds Tax Exempt is 0.16 (i.e., Average diversification). The correlation of Payden Securitized 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 Securitized Correlation With Market

Good diversification

The correlation between Payden Securitized Income and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Securitized 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 Securitized 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 census.

Moving together with Payden Mutual Fund

  0.9PYAYX Payden Corporate BondPairCorr
  0.99PYBLX Payden Floating RatePairCorr
  0.95PYABX Payden Absolute ReturnPairCorr
  0.89PYACX Payden Porate BondPairCorr
  0.95PYAIX Payden Absolute ReturnPairCorr
  0.95PYARX Payden Absolute ReturnPairCorr
  0.97PYCEX Payden Emerging MarketsPairCorr
  0.98PYCHX Payden RegalPairCorr
  0.81PYCBX Payden E BondPairCorr
  0.97PYCIX Payden Emerging MarketsPairCorr
  0.74PYCLX Payden CaliforniaPairCorr
  0.81PYCWX Payden E BondPairCorr
  0.8PYCSX Payden Core BondPairCorr
  0.78PYCRX Payden CaliforniaPairCorr
  0.89PYCTX Payden RygelPairCorr
  0.99PYFIX Payden Floating RatePairCorr
  0.99PYFRX Payden Floating RatePairCorr
  0.97PYEIX Payden Emerging MarketsPairCorr
  0.96PYELX Payden Emerging MarketsPairCorr
  0.97PYEMX Payden Emerging MarketsPairCorr
  0.97PYEWX Payden Emerging MarketsPairCorr
  0.98PYHRX Payden High IncomePairCorr
  0.83PYGFX Payden Global FixedPairCorr
  0.82PYGIX Payden Global FixedPairCorr
  0.93PYGSX Payden Global LowPairCorr
  0.97PYILX Payden Rygel InvestmentPairCorr
  0.97PYLMX Payden Limited MaturityPairCorr
  0.9PYLWX Payden Low DurationPairCorr
  0.97PYLSX Payden Limited MaturityPairCorr
  0.97PYLBX Payden Limited MaturityPairCorr
  0.91PYLDX Payden RygelPairCorr
  0.95PYSGX Payden Strategic IncomePairCorr
  0.91PYSBX Payden Low DurationPairCorr
  0.95PYSIX Payden Strategic IncomePairCorr
  0.98PYRLX Payden High IncomePairCorr
  0.77PYUSX Payden GovernmentPairCorr
  0.96PYVAX Payden Equity IncomePairCorr
  0.96PYVLX 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 Securitized 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 Securitized'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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