Payden Strategic Correlations

Mutual Funds . USA . 
Fund . Payden Strategic Income
PYSIX Fund  USD 9.61  0.01  0.10%   
The current 90-days correlation between Payden Strategic Income and Payden Corporate Bond is 0.9 (i.e., Almost no diversification). The correlation of Payden Strategic 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 Strategic Correlation With Market

Modest diversification

The correlation between Payden Strategic Income and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Strategic 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 Strategic 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 gross domestic product.

Moving together with Payden Mutual Fund

  0.98PYAYX Payden Corporate BondPairCorr
  0.93PYBLX Payden Floating RatePairCorr
  0.98PYABX Payden Absolute ReturnPairCorr
  0.98PYACX Payden Porate BondPairCorr
  0.98PYAIX Payden Absolute ReturnPairCorr
  0.98PYARX Payden Absolute ReturnPairCorr
  0.99PYCEX Payden Emerging MarketsPairCorr
  0.97PYCHX Payden RegalPairCorr
  0.95PYCBX Payden E BondPairCorr
  0.99PYCIX Payden Emerging MarketsPairCorr
  0.77PYCLX Payden CaliforniaPairCorr
  0.95PYCWX Payden E BondPairCorr
  0.94PYCSX Payden Core BondPairCorr
  0.8PYCRX Payden CaliforniaPairCorr
  0.98PYCTX Payden RygelPairCorr
  0.93PYFIX Payden Floating RatePairCorr
  0.93PYFRX Payden Floating RatePairCorr
  0.98PYEIX Payden Emerging MarketsPairCorr
  0.97PYELX Payden Emerging MarketsPairCorr
  0.98PYEMX Payden Emerging MarketsPairCorr
  0.98PYEWX Payden Emerging MarketsPairCorr
  0.97PYHRX Payden High IncomePairCorr
  0.95PYGFX Payden Global FixedPairCorr
  0.94PYGIX Payden Global FixedPairCorr
  0.98PYGSX Payden Global LowPairCorr
  0.97PYILX Payden Rygel InvestmentPairCorr
  0.95PYLMX Payden Limited MaturityPairCorr
  0.96PYLWX Payden Low DurationPairCorr
  0.93PYLSX Payden Limited MaturityPairCorr
  0.94PYLBX Payden Limited MaturityPairCorr
  0.96PYLDX Payden RygelPairCorr
  0.95PYSFX Payden Securitized IncomePairCorr
  1.0PYSGX Payden Strategic IncomePairCorr
  0.95PYSBX Payden Low DurationPairCorr
  0.97PYRLX Payden High IncomePairCorr
  0.9PYUSX Payden GovernmentPairCorr
  0.89PYVAX Payden Equity IncomePairCorr
  0.89PYVLX Payden Equity IncomePairCorr
  0.89PYVSX 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 Strategic 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 Strategic'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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