Payden Rygel Correlations

Mutual Funds . USA . 
Fund . The Payden Rygel
PYCTX Fund  USD 9.83  0.01  0.10%   
The current 90-days correlation between Payden Rygel and Transamerica International Equity is 0.07 (i.e., Significant diversification). The correlation of Payden Rygel 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 Rygel Correlation With Market

Modest diversification

The correlation between The Payden Rygel and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Payden Rygel 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 The Payden Rygel. 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 estimate.

Moving together with Payden Mutual Fund

  0.86PYAYX Payden Corporate BondPairCorr
  0.85PYACX Payden Porate BondPairCorr
  0.71PYCEX Payden Emerging MarketsPairCorr
  0.82PYCBX Payden E BondPairCorr
  0.7PYCIX Payden Emerging MarketsPairCorr
  0.81PYCLX Payden CaliforniaPairCorr
  0.82PYCWX Payden E BondPairCorr
  0.81PYCSX Payden Core BondPairCorr
  0.83PYCRX Payden CaliforniaPairCorr
  0.71PYEIX Payden Emerging MarketsPairCorr
  0.68PYELX Payden Emerging MarketsPairCorr
  0.72PYEMX Payden Emerging MarketsPairCorr
  0.7PYEWX Payden Emerging MarketsPairCorr
  0.81PYGFX Payden Global FixedPairCorr
  0.81PYGNX Payden Gnma FundPairCorr
  0.79PYGIX Payden Global FixedPairCorr
  0.61PYGSX Payden Global LowPairCorr
  0.7PYILX Payden Rygel InvestmentPairCorr
  0.89PYSGX Payden Strategic IncomePairCorr
  0.73PYSIX Payden Strategic IncomePairCorr
  0.79PYSLX Payden Strategic IncomePairCorr
  0.62PYUSX Payden GovernmentPairCorr
  0.89PKCIX Paydenkravitz CashPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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