Payden Rygel Correlations

Mutual Funds . USA . 
Fund . The Payden Rygel
PYLDX Fund  USD 9.82  0.01  0.10%   
The current 90-days correlation between Payden Rygel and Dunham Porategovernment Bond is 0.1 (i.e., Average 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

Very good diversification

The correlation between The Payden Rygel and DJI is -0.22 (i.e., Very good 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 unemployment.

Moving together with Payden Mutual Fund

  0.79PYAYX Payden Corporate BondPairCorr
  0.96PYABX Payden Absolute ReturnPairCorr
  0.78PYACX Payden Porate BondPairCorr
  0.94PYAIX Payden Absolute ReturnPairCorr
  0.95PYARX Payden Absolute ReturnPairCorr
  0.85PYCEX Payden Emerging MarketsPairCorr
  0.67PYCHX Payden RegalPairCorr
  0.86PYCBX Payden E BondPairCorr
  0.84PYCIX Payden Emerging MarketsPairCorr
  0.68PYCLX Payden CaliforniaPairCorr
  0.85PYCWX Payden E BondPairCorr
  0.85PYCSX Payden Core BondPairCorr
  0.71PYCRX Payden CaliforniaPairCorr
  0.61PYFIX Payden Floating RatePairCorr
  0.61PYFRX Payden Floating RatePairCorr
  0.83PYEIX Payden Emerging MarketsPairCorr
  0.82PYELX Payden Emerging MarketsPairCorr
  0.82PYEMX Payden Emerging MarketsPairCorr
  0.81PYEWX Payden Emerging MarketsPairCorr
  0.65PYHRX Payden High IncomePairCorr
  0.64PYGFX Payden Global FixedPairCorr
  0.85PYGNX Payden Gnma FundPairCorr
  0.67PYGIX Payden Global FixedPairCorr
  0.95PYGSX Payden Global LowPairCorr
  0.8PYILX Payden Rygel InvestmentPairCorr
  0.9PYLMX Payden Limited MaturityPairCorr
  0.95PYLSX Payden Limited MaturityPairCorr
  0.62PYSGX Payden Strategic IncomePairCorr
  1.0PYSBX Payden Low DurationPairCorr
  0.87PYSIX Payden Strategic IncomePairCorr
  0.84PYSLX Payden Strategic IncomePairCorr
  0.67PYRLX Payden High IncomePairCorr
  0.98PYUSX Payden GovernmentPairCorr
  0.64PKCIX Paydenkravitz CashPairCorr

Moving against Payden Mutual Fund

  0.44PYVAX Payden Equity IncomePairCorr
  0.44PYVLX Payden Equity IncomePairCorr
  0.44PYVSX Payden Equity IncomePairCorr

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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