Payden High Correlations

Mutual Funds . USA . 
Fund . Payden High Income
PYHRX Fund  USD 12.84  0.02  0.16%   
The current 90-days correlation between Payden High Income and Calvert Moderate Allocation is 0.63 (i.e., Poor diversification). The correlation of Payden High 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 High Correlation With Market

Almost no diversification

The correlation between Payden High Income and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden High 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 High 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 inflation.

Moving together with Payden Mutual Fund

  0.81PYAYX Payden Corporate BondPairCorr
  0.91PYBLX Payden Floating RatePairCorr
  0.97PYABX Payden Absolute ReturnPairCorr
  0.77PYACX Payden Porate BondPairCorr
  0.98PYAIX Payden Absolute ReturnPairCorr
  0.97PYARX Payden Absolute ReturnPairCorr
  0.98PYCEX Payden Emerging MarketsPairCorr
  1.0PYCHX Payden RegalPairCorr
  0.84PYCBX Payden E BondPairCorr
  0.96PYCIX Payden Emerging MarketsPairCorr
  0.86PYCLX Payden CaliforniaPairCorr
  0.83PYCWX Payden E BondPairCorr
  0.87PYCSX Payden Core BondPairCorr
  0.87PYCRX Payden CaliforniaPairCorr
  0.79PYCTX Payden RygelPairCorr
  0.92PYFIX Payden Floating RatePairCorr
  0.98PYEIX Payden Emerging MarketsPairCorr
  0.93PYELX Payden Emerging MarketsPairCorr
  0.98PYEMX Payden Emerging MarketsPairCorr
  0.98PYEWX Payden Emerging MarketsPairCorr
  0.83PYGFX Payden Global FixedPairCorr
  0.86PYGNX Payden Gnma FundPairCorr
  0.79PYGIX Payden Global FixedPairCorr
  0.96PYGSX Payden Global LowPairCorr
  0.94PYILX Payden Rygel InvestmentPairCorr
  0.94PYLMX Payden Limited MaturityPairCorr
  0.9PYLWX Payden Low DurationPairCorr
  0.95PYLSX Payden Limited MaturityPairCorr
  0.94PYLBX Payden Limited MaturityPairCorr
  0.92PYLDX Payden RygelPairCorr
  0.98PYSGX Payden Strategic IncomePairCorr
  0.92PYSBX Payden Low DurationPairCorr
  0.97PYSIX Payden Strategic IncomePairCorr
  0.97PYSLX Payden Strategic IncomePairCorr
  1.0PYRLX Payden High IncomePairCorr
  0.91PYUSX Payden GovernmentPairCorr
  0.9PYVAX Payden Equity IncomePairCorr
  0.91PYVLX Payden Equity IncomePairCorr
  0.91PYVSX Payden Equity IncomePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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