Payden Global Correlations

Mutual Funds . USA . 
Fund . Payden Global Fixed
PYGFX Fund  USD 7.66  0.01  0.13%   
The current 90-days correlation between Payden Global Fixed and Sprott Gold Equity is -0.08 (i.e., Good diversification). The correlation of Payden Global 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 Global Correlation With Market

Average diversification

The correlation between Payden Global Fixed and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Global Fixed 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 Global Fixed. 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 census.

Moving together with Payden Mutual Fund

  0.95PYAYX Payden Corporate BondPairCorr
  0.73PYABX Payden Absolute ReturnPairCorr
  0.96PYACX Payden Porate BondPairCorr
  0.72PYAIX Payden Absolute ReturnPairCorr
  0.71PYARX Payden Absolute ReturnPairCorr
  0.91PYCEX Payden Emerging MarketsPairCorr
  0.81PYCHX Payden RegalPairCorr
  0.92PYCBX Payden E BondPairCorr
  0.9PYCIX Payden Emerging MarketsPairCorr
  0.88PYCLX Payden CaliforniaPairCorr
  0.92PYCWX Payden E BondPairCorr
  0.92PYCSX Payden Core BondPairCorr
  0.89PYCRX Payden CaliforniaPairCorr
  0.95PYCTX Payden RygelPairCorr
  0.92PYEIX Payden Emerging MarketsPairCorr
  0.81PYELX Payden Emerging MarketsPairCorr
  0.92PYEMX Payden Emerging MarketsPairCorr
  0.92PYEWX Payden Emerging MarketsPairCorr
  0.81PYHRX Payden High IncomePairCorr
  0.9PYGNX Payden Gnma FundPairCorr
  1.0PYGIX Payden Global FixedPairCorr
  0.78PYGSX Payden Global LowPairCorr
  0.8PYILX Payden Rygel InvestmentPairCorr
  0.72PYLMX Payden Limited MaturityPairCorr
  0.69PYLDX Payden RygelPairCorr
  0.91PYSGX Payden Strategic IncomePairCorr
  0.69PYSBX Payden Low DurationPairCorr
  0.91PYSIX Payden Strategic IncomePairCorr
  0.77PYRLX Payden High IncomePairCorr
  0.74PYUSX Payden GovernmentPairCorr
  0.72PKCIX Payden/kravitz CashPairCorr
  0.73PKCRX 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 Global 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 Global'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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