Payden Securitized Correlations

Mutual Funds USA . 
Fund . Payden Securitized Income
PYSFX Fund   10.08  0.01  0.1%   
The current 90-days correlation between Payden Securitized Income and Ab Bond Inflation is 0.42 (i.e., Very weak diversification). The correlation of Payden Securitized 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 Securitized Correlation With Market

Very poor diversification

The correlation between Payden Securitized Income and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Securitized 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 Securitized 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 price.

Moving together with Payden Mutual Fund

  0.96PYBLX Payden Floating RatePairCorr
  0.98PYABX Payden Absolute ReturnPairCorr
  0.99PYAIX Payden Absolute ReturnPairCorr
  0.99PYARX Payden Absolute ReturnPairCorr
  0.93PYCEX Payden Emerging MarketsPairCorr
  0.96PYCHX Payden RegalPairCorr
  0.69PYCBX Payden E BondPairCorr
  0.94PYCIX Payden Emerging MarketsPairCorr
  0.81PYCLX Payden CaliforniaPairCorr
  0.64PYCWX Payden E BondPairCorr
  0.71PYCSX Payden Core BondPairCorr
  0.86PYCRX Payden CaliforniaPairCorr
  0.98PYFIX Payden Floating RatePairCorr
  0.98PYFRX Payden Floating RatePairCorr
  0.97PYEIX Payden Emerging MarketsPairCorr
  0.96PYELX Payden Emerging MarketsPairCorr
  0.97PYEMX Payden Emerging MarketsPairCorr
  0.97PYEWX Payden Emerging MarketsPairCorr
  0.97PYHRX Payden High IncomePairCorr
  0.72PYGNX Payden Gnma FundPairCorr
  0.98PYGSX Payden Global LowPairCorr
  0.96PYILX Payden Rygel InvestmentPairCorr
  0.94PYLMX Payden Limited MaturityPairCorr
  0.92PYLWX Payden Low DurationPairCorr
  0.94PYLSX Payden Limited MaturityPairCorr
  0.94PYLBX Payden Limited MaturityPairCorr
  0.93PYLDX Payden RygelPairCorr
  0.94PYSGX Payden Strategic IncomePairCorr
  0.93PYSBX Payden Low DurationPairCorr
  0.95PYSIX Payden Strategic IncomePairCorr
  0.9PYSLX Payden Strategic IncomePairCorr
  0.96PYRLX Payden High IncomePairCorr
  0.91PYUSX Payden GovernmentPairCorr
  0.84PYVAX Payden Equity IncomePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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