Payden Strategic Correlations

Mutual Funds . USA . 
Fund . Payden Strategic Income
PYSLX Fund   9.66  0.02  0.21%   
The current 90-days correlation between Payden Strategic Income and Rbc Funds Trust is 0.14 (i.e., Average 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 0.88 (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 board of governors.

Moving together with Payden Mutual Fund

  0.9PYAYX Payden Corporate BondPairCorr
  0.87PYBLX Payden Floating RatePairCorr
  0.95PYABX Payden Absolute ReturnPairCorr
  0.8PYACX Payden Porate BondPairCorr
  0.96PYAIX Payden Absolute ReturnPairCorr
  0.95PYARX Payden Absolute ReturnPairCorr
  0.94PYCEX Payden Emerging MarketsPairCorr
  0.97PYCHX Payden RegalPairCorr
  0.86PYCBX Payden E BondPairCorr
  0.93PYCIX Payden Emerging MarketsPairCorr
  0.82PYCLX Payden CaliforniaPairCorr
  0.85PYCWX Payden E BondPairCorr
  0.89PYCSX Payden Core BondPairCorr
  0.83PYCRX Payden CaliforniaPairCorr
  0.89PYCTX Payden RygelPairCorr
  0.87PYFIX Payden Floating RatePairCorr
  0.86PYFRX Payden Floating RatePairCorr
  0.96PYEIX Payden Emerging MarketsPairCorr
  0.91PYELX Payden Emerging MarketsPairCorr
  0.96PYEMX Payden Emerging MarketsPairCorr
  0.96PYEWX Payden Emerging MarketsPairCorr
  0.97PYHRX Payden High IncomePairCorr
  0.84PYGFX Payden Global FixedPairCorr
  0.9PYGNX Payden Gnma FundPairCorr
  0.81PYGIX Payden Global FixedPairCorr
  0.97PYGSX Payden Global LowPairCorr
  0.92PYILX Payden Rygel InvestmentPairCorr
  0.9PYLMX Payden Limited MaturityPairCorr
  0.89PYLWX Payden Low DurationPairCorr
  0.92PYLSX Payden Limited MaturityPairCorr
  0.89PYLBX Payden Limited MaturityPairCorr
  0.92PYLDX Payden RygelPairCorr
  0.96PYSGX Payden Strategic IncomePairCorr
  0.92PYSBX Payden Low DurationPairCorr
  0.96PYSIX Payden Strategic IncomePairCorr
  0.97PYRLX Payden High IncomePairCorr
  0.93PYUSX Payden GovernmentPairCorr
  0.9PYVAX Payden Equity IncomePairCorr
  0.9PYVLX Payden Equity IncomePairCorr

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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