Payden Strategic Correlations

Mutual Funds . USA . 
Fund . Payden Strategic Income
PYSGX Fund  USD 9.62  0.01  0.10%   
The current 90-days correlation between Payden Strategic Income and Old Westbury Large is 0.03 (i.e., Significant 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

Significant diversification

The correlation between Payden Strategic Income and DJI is 0.05 (i.e., Significant 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 price.

Moving together with Payden Mutual Fund

  0.92PYACX Payden Porate BondPairCorr
  0.88PYCBX Payden E BondPairCorr
  0.87PYCWX Payden E BondPairCorr
  0.87PYCSX Payden Core BondPairCorr
  0.85PYCRX Payden CaliforniaPairCorr
  0.93PYCTX Payden RygelPairCorr
  0.85PYELX Payden Emerging MarketsPairCorr
  0.64PYEWX Payden Emerging MarketsPairCorr
  0.97PYGFX Payden Global FixedPairCorr
  0.75PYGNX Payden Gnma FundPairCorr
  0.92PYGIX Payden Global FixedPairCorr
  0.82PYGSX Payden Global LowPairCorr
  0.85PYILX Payden Rygel InvestmentPairCorr
  0.81PYLDX Payden RygelPairCorr
  0.8PYSBX Payden Low DurationPairCorr
  1.0PYSIX Payden Strategic IncomePairCorr
  0.85PYUSX Payden GovernmentPairCorr
  0.9VBIRX Vanguard Short TermPairCorr
  0.8VFSUX Vanguard Short TermPairCorr
  0.88VFSIX Vanguard Short TermPairCorr
  0.88VFSTX Vanguard Short TermPairCorr

Moving against Payden Mutual Fund

  0.47PYFRX Payden Floating RatePairCorr
  0.46PYFIX Payden Floating RatePairCorr
  0.5KNPAX Kinetics Paradigm Steady GrowthPairCorr
  0.49LSHUX Horizon Spin Off Steady GrowthPairCorr
  0.48KMKAX Kinetics Market Oppo Steady GrowthPairCorr
  0.48KNPYX Kinetics Paradigm Steady GrowthPairCorr
  0.48KMKCX Kinetics Market Oppo Steady GrowthPairCorr
  0.47LSHCX Horizon Spin Off Steady GrowthPairCorr
  0.41SMPSX Semiconductor UltrasectorPairCorr
  0.33LETRX Voya Russia FundPairCorr
  0.32PKCIX Payden/kravitz CashPairCorr
  0.32PKCBX 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 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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