Payden Absolute Correlations

Mutual Funds . USA . 
Fund . Payden Absolute Return
PYARX Fund  USD 9.51  0.02  0.21%   
The current 90-days correlation between Payden Absolute Return and Siit High Yield is 0.21 (i.e., Modest diversification). The correlation of Payden Absolute 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 Absolute Correlation With Market

Modest diversification

The correlation between Payden Absolute Return and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Absolute Return 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 Absolute Return. 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 real.

Moving together with Payden Mutual Fund

  0.98PYAYX Payden Corporate BondPairCorr
  0.93PYBLX Payden Floating RatePairCorr
  0.99PYABX Payden Absolute ReturnPairCorr
  0.98PYACX Payden Porate BondPairCorr
  1.0PYAIX Payden Absolute ReturnPairCorr
  0.98PYCEX Payden Emerging MarketsPairCorr
  0.97PYCHX Payden RegalPairCorr
  0.98PYCIX Payden Emerging MarketsPairCorr
  0.98PYCTX Payden RygelPairCorr
  0.98PYEMX Payden Emerging MarketsPairCorr
  0.98PYEWX Payden Emerging MarketsPairCorr
  0.97PYGFX Payden Global FixedPairCorr
  0.97PYGNX Payden Gnma FundPairCorr
  0.99PYGSX Payden Global LowPairCorr
  0.95PYLMX Payden Limited MaturityPairCorr
  0.96PYLDX Payden RygelPairCorr
  0.99PYSLX Payden Strategic IncomePairCorr
  0.97PYRLX Payden High IncomePairCorr
  0.97PYUSX Payden GovernmentPairCorr
  0.93PYVLX Payden Equity IncomePairCorr
  0.93PYVSX Payden Equity IncomePairCorr
  0.98BSIKX Blackrock StrategicPairCorr
  0.97BSICX Blackrock Strategic OppsPairCorr
  0.97BASIX Blackrock Strategic OppsPairCorr
  0.98BSIIX Blackrock StrategicPairCorr
  0.96JSORX Jpmorgan Strategic IncomePairCorr
  0.96JSOZX Jpmorgan Strategic IncomePairCorr
  0.95JSOCX Jpmorgan Strategic IncomePairCorr
  0.95JSOSX Jpmorgan Strategic IncomePairCorr
  0.95JSOAX Jpmorgan Strategic IncomePairCorr
  0.97PMZCX Pimco Mortgage OpporPairCorr
  0.97FSMMX Fs Multi StrategyPairCorr
  0.79BTMPX Ishares Msci EafePairCorr
  0.8BTMKX Blackrock InternationalPairCorr
  0.79MDIIX Blackrock Intern IndexPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Payden Mutual Fund performing well and Payden Absolute 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 Absolute'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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