Payden Strategic Correlations

Mutual Funds . USA . 
Fund . Payden Strategic Income
PYSIX Fund  USD 9.73  0.01  0.10%   
The current 90-days correlation between Payden Strategic Income and Siit High Yield is -0.02 (i.e., Good 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 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden 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 gross domestic product.

Moving together with Payden Mutual Fund

  0.94PYABX Payden Absolute ReturnPairCorr
  0.93PYCIX Payden Emerging MarketsPairCorr
  0.9PYFIX Payden Floating RatePairCorr
  0.97PYHRX Payden High IncomePairCorr
  0.94PYSLX Payden Strategic IncomePairCorr
  0.95PYRLX Payden High IncomePairCorr
  0.91PYUSX Payden GovernmentPairCorr
  0.88PYVLX Payden Equity IncomePairCorr
  0.81VBIRX Vanguard Short TermPairCorr
  0.86VFSUX Vanguard Short TermPairCorr
  0.91VFSIX Vanguard Short TermPairCorr
  0.91VFSTX Vanguard Short TermPairCorr
  0.83VBITX Vanguard Short TermPairCorr
  0.85VBISX Vanguard Short TermPairCorr
  0.98VSCSX Vanguard Short TermPairCorr
  0.85LALDX Lord Abbett ShortPairCorr
  0.79LDLAX Lord Abbett ShortPairCorr
  0.81LDLRX Lord Abbett ShortPairCorr
  0.91HLDIX Hartford EmergingPairCorr
  0.61HLDRX Hartford EmergingPairCorr
  0.91HLDAX Hartford EmergingPairCorr
  0.91HLDCX Hartford EmergingPairCorr
  0.61HLDTX Hartford EmergingPairCorr
  0.92ANDIX Aqr InternationalPairCorr
  0.74TLRHX Tiaa Cref LifecyclePairCorr
  0.71CLBRX Columbia Capital AllPairCorr
  0.73HLFNX Hennessy Large CapPairCorr
  0.83WILJX William Blair InternPairCorr
  0.88PQUAX Pace Smallmedium GrowthPairCorr
  0.83TILPX Tiaa Cref LargePairCorr
  0.74VFIAX Vanguard 500 IndexPairCorr
  0.9DMIDX Dreyfus Midcap IndexPairCorr
  0.9TLSPX Tiaa Cref LifestylePairCorr
  0.9RNGEX New Economy FundPairCorr

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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