Payden Equity Correlations

Mutual Funds . USA . 
Fund . Payden Equity Income
PYVLX Fund  USD 16.71  0.01  0.06%   
The current 90-days correlation between Payden Equity Income and Payden Emerging Markets is 0.13 (i.e., Average diversification). The correlation of Payden Equity 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 Equity Correlation With Market

Almost no diversification

The correlation between Payden Equity Income and DJI is 0.92 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Equity 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 Equity 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

  0.85PYAYX Payden Corporate BondPairCorr
  0.97PYBLX Payden Floating RatePairCorr
  0.89PYABX Payden Absolute ReturnPairCorr
  0.61PYACX Payden Porate BondPairCorr
  0.91PYAIX Payden Absolute ReturnPairCorr
  0.66PYARX Payden Absolute ReturnPairCorr
  0.66PYCEX Payden Emerging MarketsPairCorr
  0.71PYCHX Payden RegalPairCorr
  0.67PYCIX Payden Emerging MarketsPairCorr
  0.78PYCLX Payden CaliforniaPairCorr
  0.75PYCWX Payden E BondPairCorr
  0.73PYCSX Payden Core BondPairCorr
  0.81PYCRX Payden CaliforniaPairCorr
  0.63PYCTX Payden RygelPairCorr
  0.97PYFIX Payden Floating RatePairCorr
  0.97PYFRX Payden Floating RatePairCorr
  0.72PYEIX Payden Emerging MarketsPairCorr
  0.92PYELX Payden Emerging MarketsPairCorr
  0.72PYEMX Payden Emerging MarketsPairCorr
  0.94PYEWX Payden Emerging MarketsPairCorr
  0.96PYHRX Payden High IncomePairCorr
  0.76PYGIX Payden Global FixedPairCorr
  0.86PYGSX Payden Global LowPairCorr
  0.92PYILX Payden Rygel InvestmentPairCorr
  0.95PYLMX Payden Limited MaturityPairCorr
  0.84PYLWX Payden Low DurationPairCorr
  0.94PYLSX Payden Limited MaturityPairCorr
  0.95PYLBX Payden Limited MaturityPairCorr
  0.86PYLDX Payden RygelPairCorr
  0.96PYSFX Payden Securitized IncomePairCorr
  0.89PYSGX Payden Strategic IncomePairCorr
  0.85PYSBX Payden Low DurationPairCorr
  0.65PYSIX Payden Strategic IncomePairCorr
  0.89PYSLX Payden Strategic IncomePairCorr
  0.96PYRLX Payden High IncomePairCorr
  0.7PYUSX Payden GovernmentPairCorr
  1.0PYVAX 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 Equity 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 Equity'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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