Payden Emerging Correlations

Mutual Funds . USA . 
Fund . Payden Emerging Markets
PYEMX Fund  USD 10.44  0.02  0.19%   
The current 90-days correlation between Payden Emerging Markets and Blackrock Science Technology is 0.21 (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

Significant diversification

The correlation between Payden Emerging Markets and DJI is 0.05 (i.e., Significant 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 population.

Moving together with Payden Mutual Fund

  0.84PYACX Payden Porate BondPairCorr
  0.92PYCEX Payden Emerging MarketsPairCorr
  0.91PYCHX Payden RegalPairCorr
  0.74PYCBX Payden E BondPairCorr
  0.81PYCIX Payden Emerging MarketsPairCorr
  0.75PYCWX Payden E BondPairCorr
  0.75PYCSX Payden Core BondPairCorr
  0.84PYCRX Payden CaliforniaPairCorr
  0.83PYCTX Payden RygelPairCorr
  0.83PYEIX Payden Emerging MarketsPairCorr
  1.0PYEWX Payden Emerging MarketsPairCorr
  0.63PYHRX Payden High IncomePairCorr
  0.79PYGFX Payden Global FixedPairCorr
  0.72PYGNX Payden Gnma FundPairCorr
  0.69PYGIX Payden Global FixedPairCorr
  0.72PYGSX Payden Global LowPairCorr
  0.76PYSGX Payden Strategic IncomePairCorr
  0.89PYSIX Payden Strategic IncomePairCorr
  0.61PYUSX Payden GovernmentPairCorr
  0.76PYVLX Payden Equity IncomePairCorr
  0.76PYVSX Payden Equity IncomePairCorr
  0.88FGBMX Fidelity New MarketsPairCorr
  0.88FGZMX Fidelity New MarketsPairCorr
  0.88FGWMX Fidelity New MarketsPairCorr

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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