Payden Absolute Correlations

Mutual Funds . USA . 
Fund . Payden Absolute Return
PYAIX Fund  USD 9.41  0.04  0.42%   
The current 90-days correlation between Payden Absolute Return and Artisan Global Unconstrained is 0.35 (i.e., Weak 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

Very poor diversification

The correlation between Payden Absolute Return 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 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 employment.

Moving together with Payden Mutual Fund

  0.91PYBLX Payden Floating RatePairCorr
  0.99PYARX Payden Absolute ReturnPairCorr
  0.98PYCHX Payden RegalPairCorr
  0.76PYCBX Payden E BondPairCorr
  0.95PYCIX Payden Emerging MarketsPairCorr
  0.73PYCWX Payden E BondPairCorr
  0.79PYCSX Payden Core BondPairCorr
  0.99PYEMX Payden Emerging MarketsPairCorr
  0.99PYEWX Payden Emerging MarketsPairCorr
  0.98PYHRX Payden High IncomePairCorr
  0.96PYILX Payden Rygel InvestmentPairCorr
  0.94PYLSX Payden Limited MaturityPairCorr
  0.94PYLBX Payden Limited MaturityPairCorr
  0.93PYLDX Payden RygelPairCorr
  0.95PYSGX Payden Strategic IncomePairCorr
  0.93PYSBX Payden Low DurationPairCorr
  0.98PYRLX Payden High IncomePairCorr
  0.9PYUSX Payden GovernmentPairCorr
  0.86PYVAX Payden Equity IncomePairCorr
  0.86PYVLX Payden Equity IncomePairCorr
  0.86PYVSX Payden Equity IncomePairCorr
  0.98PKCIX Payden/kravitz CashPairCorr
  0.99PKBIX Payden/kravitz CashPairCorr
  0.9BSICX Blackrock Strategic OppsPairCorr
  0.91BASIX Blackrock Strategic OppsPairCorr
  0.92BSIIX Blackrock StrategicPairCorr
  0.92BSIKX Blackrock StrategicPairCorr
  0.96JSORX Jpmorgan Strategic IncomePairCorr
  0.93PMZNX Pimco Mortgage OpporPairCorr
  0.91PMZCX Pimco Mortgage OpporPairCorr
  0.91PMZAX Pimco Mortgage OpporPairCorr
  0.96JSOZX Jpmorgan Strategic IncomePairCorr
  0.96JSOCX Jpmorgan Strategic IncomePairCorr
  0.74VSTSX Vanguard Total StockPairCorr
  0.74VSMPX Vanguard Total StockPairCorr
  0.74VITSX Vanguard Total StockPairCorr

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2026 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY