Payden Strategic Correlations

Mutual Funds . USA . 
Fund . Payden Strategic Income
PYSLX Fund   9.70  0.01  0.10%   
The current 90-days correlation between Payden Strategic Income and T Rowe Price is 0.28 (i.e., Modest diversification). The correlation of Payden Strategic 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 Strategic Correlation With Market

Very poor diversification

The correlation between Payden Strategic Income and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Strategic 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 Strategic 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 board of governors.

Moving together with Payden Mutual Fund

  0.93PYAYX Payden Corporate BondPairCorr
  0.66PYBLX Payden Floating RatePairCorr
  0.95PYABX Payden Absolute ReturnPairCorr
  0.87PYACX Payden Porate BondPairCorr
  0.95PYAIX Payden Absolute ReturnPairCorr
  0.95PYARX Payden Absolute ReturnPairCorr
  0.94PYCEX Payden Emerging MarketsPairCorr
  0.94PYCHX Payden RegalPairCorr
  0.9PYCBX Payden E BondPairCorr
  0.94PYCIX Payden Emerging MarketsPairCorr
  0.89PYCLX Payden CaliforniaPairCorr
  0.94PYCWX Payden E BondPairCorr
  0.96PYCSX Payden Core BondPairCorr
  0.9PYCRX Payden CaliforniaPairCorr
  0.92PYCTX Payden RygelPairCorr
  0.69PYFIX Payden Floating RatePairCorr
  0.68PYFRX Payden Floating RatePairCorr
  0.97PYEIX Payden Emerging MarketsPairCorr
  0.93PYELX Payden Emerging MarketsPairCorr
  0.96PYEMX Payden Emerging MarketsPairCorr
  0.96PYEWX Payden Emerging MarketsPairCorr
  0.94PYHRX Payden High IncomePairCorr
  0.94PYGFX Payden Global FixedPairCorr
  0.95PYGNX Payden Gnma FundPairCorr
  0.92PYGIX Payden Global FixedPairCorr
  0.98PYGSX Payden Global LowPairCorr
  0.93PYILX Payden Rygel InvestmentPairCorr
  0.91PYLMX Payden Limited MaturityPairCorr
  0.92PYLWX Payden Low DurationPairCorr
  0.91PYLSX Payden Limited MaturityPairCorr
  0.9PYLBX Payden Limited MaturityPairCorr
  0.93PYLDX Payden RygelPairCorr
  0.96PYSFX Payden Securitized IncomePairCorr
  0.97PYSGX Payden Strategic IncomePairCorr
  0.93PYSBX Payden Low DurationPairCorr
  0.99PYSIX Payden Strategic IncomePairCorr
  0.95PYRLX Payden High IncomePairCorr
  0.93PYUSX Payden GovernmentPairCorr
  0.93PYVAX Payden Equity IncomePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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