Payden Emerging Correlations

Mutual Funds . USA . 
Fund . Payden Emerging Markets
PYEWX Fund  USD 10.84  0.01  0.09%   
The current 90-days correlation between Payden Emerging Markets and Inflation Adjusted Bond Fund is 0.44 (i.e., Very weak diversification). The correlation of Payden Emerging 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 Emerging Correlation With Market

Good diversification

The correlation between Payden Emerging Markets and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Emerging Markets 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 Emerging Markets. 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 interest.

Moving together with Payden Mutual Fund

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

Related Correlations Analysis


Risk-Adjusted Indicators

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