Payden Emerging Correlations

PYCEX Fund  USD 8.83  0.01  0.11%   
The current 90-days correlation between Payden Emerging Markets and Ab High Income is 0.15 (i.e., Average diversification). The correlation of Payden Emerging 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 Emerging Correlation With Market

Modest diversification

The correlation between Payden Emerging Markets and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Emerging Markets 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 Emerging Markets. 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 income.

Moving together with Payden Mutual Fund

  0.9PYAYX Payden Corporate BondPairCorr
  0.86PYABX Payden Absolute ReturnPairCorr
  0.96PYACX Payden Porate BondPairCorr
  0.93PYAIX Payden Absolute ReturnPairCorr
  0.86PYARX Payden Absolute ReturnPairCorr
  0.91PYCBX Payden E BondPairCorr
  0.94PYCIX Payden Emerging MarketsPairCorr
  0.84PYCLX Payden CaliforniaPairCorr
  0.91PYCWX Payden E BondPairCorr
  0.91PYCSX Payden Core BondPairCorr
  0.84PYCRX Payden CaliforniaPairCorr
  0.82PYCTX Payden RygelPairCorr
  0.63PYFRX Payden Floating RatePairCorr
  0.94PYEIX Payden Emerging MarketsPairCorr
  0.88PYELX Payden Emerging MarketsPairCorr
  0.94PYEMX Payden Emerging MarketsPairCorr
  0.89PYEWX Payden Emerging MarketsPairCorr
  0.79PYHRX Payden High IncomePairCorr
  0.8PYGFX Payden Global FixedPairCorr
  0.94PYGNX Payden Gnma FundPairCorr
  0.86PYGIX Payden Global FixedPairCorr
  0.87PYGSX Payden Global LowPairCorr
  0.88PYILX Payden Rygel InvestmentPairCorr
  0.86PYLDX Payden RygelPairCorr
  0.94PYSGX Payden Strategic IncomePairCorr
  0.76PYSIX Payden Strategic IncomePairCorr
  0.79PYSLX Payden Strategic IncomePairCorr
  0.78PYRLX Payden High IncomePairCorr
  0.87PYUSX Payden GovernmentPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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