Payden Equity Correlations

Mutual Funds . USA . 
Fund . Payden Equity Income
PYVSX Fund  USD 16.74  0.01  0.06%   
The current 90-days correlation between Payden Equity Income and Payden Emerging Markets is 0.21 (i.e., Modest 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 state.

Moving together with Payden Mutual Fund

  0.85PYAYX Payden Corporate BondPairCorr
  0.97PYBLX Payden Floating RatePairCorr
  0.88PYABX Payden Absolute ReturnPairCorr
  0.9PYAIX Payden Absolute ReturnPairCorr
  0.63PYCHX Payden RegalPairCorr
  0.74PYCBX Payden E BondPairCorr
  0.78PYCLX Payden CaliforniaPairCorr
  0.75PYCWX Payden E BondPairCorr
  0.73PYCSX Payden Core BondPairCorr
  0.81PYCRX Payden CaliforniaPairCorr
  0.85PYCTX Payden RygelPairCorr
  0.97PYFIX Payden Floating RatePairCorr
  0.97PYFRX Payden Floating RatePairCorr
  0.64PYEIX Payden Emerging MarketsPairCorr
  0.92PYELX Payden Emerging MarketsPairCorr
  0.64PYEMX Payden Emerging MarketsPairCorr
  0.94PYEWX Payden Emerging MarketsPairCorr
  0.96PYHRX Payden High IncomePairCorr
  0.75PYGIX Payden Global FixedPairCorr
  0.86PYGSX Payden Global LowPairCorr
  0.92PYILX Payden Rygel InvestmentPairCorr
  0.95PYLMX Payden Limited MaturityPairCorr
  0.84PYLWX Payden Low DurationPairCorr
  0.95PYLSX Payden Limited MaturityPairCorr
  0.95PYLBX Payden Limited MaturityPairCorr
  0.86PYLDX Payden RygelPairCorr
  0.96PYSFX Payden Securitized IncomePairCorr
  0.89PYSGX Payden Strategic IncomePairCorr
  0.86PYSBX Payden Low DurationPairCorr
  0.89PYSLX Payden Strategic IncomePairCorr
  0.96PYRLX Payden High IncomePairCorr
  0.7PYUSX Payden GovernmentPairCorr
  1.0PYVAX Payden Equity IncomePairCorr
  1.0PYVLX 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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