Payden Core Correlations

Mutual Funds . USA . 
Fund . Payden E Bond
PYCWX Fund  USD 9.09  0.02  0.22%   
The current 90-days correlation between Payden E Bond and Gabelli Gold Fund is 0.2 (i.e., Modest diversification). The correlation of Payden Core 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 Core Correlation With Market

Average diversification

The correlation between Payden E Bond and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden E Bond 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 E Bond. 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 housing.

Moving together with Payden Mutual Fund

  0.98PYACX Payden Porate BondPairCorr
  0.73PYCEX Payden Emerging MarketsPairCorr
  1.0PYCBX Payden E BondPairCorr
  0.7PYCIX Payden Emerging MarketsPairCorr
  1.0PYCSX Payden Core BondPairCorr
  0.8PYCRX Payden CaliforniaPairCorr
  0.98PYCTX Payden RygelPairCorr
  0.74PYELX Payden Emerging MarketsPairCorr
  0.8PYGFX Payden Global FixedPairCorr
  0.99PYGNX Payden Gnma FundPairCorr
  0.81PYGIX Payden Global FixedPairCorr
  0.77PYILX Payden Rygel InvestmentPairCorr
  0.78PYSGX Payden Strategic IncomePairCorr
  0.78PYSIX Payden Strategic IncomePairCorr
  0.73PYVAX Payden Equity IncomePairCorr
  0.73PYVLX Payden Equity IncomePairCorr
  0.73PYVSX Payden Equity IncomePairCorr
  0.98MWTNX Metropolitan West TotalPairCorr
  0.99MWTSX Metropolitan West TotalPairCorr
  0.98PTTPX Pimco Total ReturnPairCorr

Moving against Payden Mutual Fund

  0.46PYAIX Payden Absolute ReturnPairCorr
  0.46PYARX Payden Absolute ReturnPairCorr
  0.43PYFRX Payden Floating RatePairCorr
  0.42PYFIX Payden Floating RatePairCorr
  0.39PYLMX Payden Limited MaturityPairCorr
  0.37PYLSX Payden Limited MaturityPairCorr
  0.47PKCIX Paydenkravitz CashPairCorr
  0.46PKBIX Paydenkravitz CashPairCorr
  0.44PKCRX Paydenkravitz CashPairCorr
  0.44PKCBX Payden/kravitz CashPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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