Payden Emerging Correlations

Mutual Funds . USA . 
Fund . Payden Emerging Markets
PYCIX Fund  USD 8.85  0.01  0.11%   
The current 90-days correlation between Payden Emerging Markets and Artisan Small Cap is 0.23 (i.e., Modest 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

Average diversification

The correlation between Payden Emerging Markets and DJI is 0.18 (i.e., Average 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 gross domestic product.

Moving together with Payden Mutual Fund

  0.92PYAYX Payden Corporate BondPairCorr
  0.69PYBLX Payden Floating RatePairCorr
  0.92PYABX Payden Absolute ReturnPairCorr
  0.95PYACX Payden Porate BondPairCorr
  0.92PYAIX Payden Absolute ReturnPairCorr
  0.92PYARX Payden Absolute ReturnPairCorr
  0.99PYCEX Payden Emerging MarketsPairCorr
  0.85PYCHX Payden RegalPairCorr
  0.96PYCBX Payden E BondPairCorr
  0.77PYCLX Payden CaliforniaPairCorr
  0.96PYCWX Payden E BondPairCorr
  0.97PYCSX Payden Core BondPairCorr
  0.83PYCRX Payden CaliforniaPairCorr
  0.94PYCTX Payden RygelPairCorr
  0.69PYFIX Payden Floating RatePairCorr
  0.68PYFRX Payden Floating RatePairCorr
  0.97PYEIX Payden Emerging MarketsPairCorr
  0.94PYELX Payden Emerging MarketsPairCorr
  0.97PYEMX Payden Emerging MarketsPairCorr
  0.97PYEWX Payden Emerging MarketsPairCorr
  0.85PYHRX Payden High IncomePairCorr
  0.91PYGFX Payden Global FixedPairCorr
  0.93PYGNX Payden Gnma FundPairCorr
  0.92PYGIX Payden Global FixedPairCorr
  0.94PYGSX Payden Global LowPairCorr
  0.94PYILX Payden Rygel InvestmentPairCorr
  0.9PYLMX Payden Limited MaturityPairCorr
  0.78PYLSX Payden Limited MaturityPairCorr
  0.87PYLDX Payden RygelPairCorr
  0.99PYSGX Payden Strategic IncomePairCorr
  0.86PYSBX Payden Low DurationPairCorr
  0.99PYSIX Payden Strategic IncomePairCorr
  0.98PYSLX Payden Strategic IncomePairCorr
  0.82PYRLX Payden High IncomePairCorr
  0.88PYUSX Payden GovernmentPairCorr
  0.93PKCIX 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 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.

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