Payden Emerging Correlations

PYEIX Fund  USD 10.52  0.01  0.1%   
The current 90-days correlation between Payden Emerging Markets and Global Gold Fund 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

Average diversification

The correlation between Payden Emerging Markets and DJI is 0.17 (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

  0.91PYAYX Payden Corporate BondPairCorr
  0.64PYBLX Payden Floating RatePairCorr
  0.79PYABX Payden Absolute ReturnPairCorr
  0.91PYACX Payden Porate BondPairCorr
  0.77PYAIX Payden Absolute ReturnPairCorr
  0.76PYARX Payden Absolute ReturnPairCorr
  0.97PYCEX Payden Emerging MarketsPairCorr
  0.9PYCHX Payden RegalPairCorr
  0.93PYCBX Payden E BondPairCorr
  0.97PYCIX Payden Emerging MarketsPairCorr
  0.79PYCLX Payden CaliforniaPairCorr
  0.93PYCWX Payden E BondPairCorr
  0.94PYCSX Payden Core BondPairCorr
  0.8PYCRX Payden CaliforniaPairCorr
  0.9PYCTX Payden RygelPairCorr
  0.63PYFIX Payden Floating RatePairCorr
  0.63PYFRX Payden Floating RatePairCorr
  0.92PYELX Payden Emerging MarketsPairCorr
  1.0PYEMX Payden Emerging MarketsPairCorr
  1.0PYEWX Payden Emerging MarketsPairCorr
  0.91PYHRX Payden High IncomePairCorr
  0.91PYGFX Payden Global FixedPairCorr
  0.89PYGNX Payden Gnma FundPairCorr
  0.93PYGIX Payden Global FixedPairCorr
  0.85PYGSX Payden Global LowPairCorr
  0.92PYILX Payden Rygel InvestmentPairCorr
  0.77PYLMX Payden Limited MaturityPairCorr
  0.66PYLSX Payden Limited MaturityPairCorr
  0.79PYLDX Payden RygelPairCorr
  0.97PYSGX Payden Strategic IncomePairCorr
  0.79PYSBX Payden Low DurationPairCorr
  0.97PYSIX Payden Strategic IncomePairCorr
  0.83PYUSX Payden GovernmentPairCorr
  0.78PKCIX Payden/kravitz CashPairCorr
  0.79PKCRX Payden/kravitz CashPairCorr
  0.78PKBIX Payden/kravitz CashPairCorr

Moving against Payden Mutual Fund

  0.91PQTAX Pimco Trends ManagedPairCorr
  0.63GPMFX Guidepath Managed FuturesPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
FRGOXAGGWX
FGDIXAGGWX
EKWDXAGGWX
FGDIXFRGOX
EKWDXFRGOX
EKWDXFGDIX
  
High negative correlations   
GCEBXUNWPX
EKWDXGCEBX
GCEBXFRGOX
GCEBXAGGWX
FGDIXGCEBX

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.