Payden E Correlations

Mutual Funds . USA . 
Fund . Payden E Bond
PYCWX Fund  USD 9.27  0.01  0.11%   
The current 90-days correlation between Payden E Bond and Old Westbury Large is 0.16 (i.e., Average diversification). The correlation of Payden E 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 E Correlation With Market

Good diversification

The correlation between Payden E Bond and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden E Bond 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 E Bond. 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 housing.

Moving together with Payden Mutual Fund

  0.98PYACX Payden Porate BondPairCorr
  1.0PYCBX Payden E BondPairCorr
  0.97PYCSX Payden Core BondPairCorr
  0.63PYCRX Payden CaliforniaPairCorr
  0.88PYELX Payden Emerging MarketsPairCorr
  0.83PYGFX Payden Global FixedPairCorr
  0.97PYGNX Payden Gnma FundPairCorr
  0.85PYILX Payden Rygel InvestmentPairCorr
  0.8PYLDX Payden RygelPairCorr
  0.81PYSGX Payden Strategic IncomePairCorr
  0.86PYSBX Payden Low DurationPairCorr
  0.89PYSIX Payden Strategic IncomePairCorr
  0.96PYUSX Payden GovernmentPairCorr
  1.0MWTNX Metropolitan West TotalPairCorr
  0.97MWTSX Metropolitan West TotalPairCorr
  0.99PTTPX Pimco Total ReturnPairCorr
  0.99PTRRX Total ReturnPairCorr
  0.99PTRAX Total ReturnPairCorr
  0.98PTTRX Total ReturnPairCorr
  0.98FIWGX Strategic AdvisersPairCorr
  0.99DODIX Dodge IncomePairCorr
  0.99MWTIX Metropolitan West TotalPairCorr

Moving against Payden Mutual Fund

  0.88PYFRX Payden Floating RatePairCorr
  0.87PYFIX Payden Floating RatePairCorr
  0.84PYAIX Payden Absolute ReturnPairCorr
  0.78PYARX Payden Absolute ReturnPairCorr
  0.82PYLMX Payden Limited MaturityPairCorr
  0.8PKCBX Paydenkravitz CashPairCorr
  0.78PYLSX Payden Limited MaturityPairCorr
  0.78PKCRX Paydenkravitz CashPairCorr
  0.58PYVAX Payden Equity IncomePairCorr
  0.58PYVLX Payden Equity IncomePairCorr
  0.58PYVSX Payden Equity IncomePairCorr
  0.77SMPSX Semiconductor UltrasectorPairCorr
  0.75LSHUX Horizon Spin OffPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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