Payden Limited Correlations

PYLMX Fund  USD 9.54  0.01  0.10%   
The current 90-days correlation between Payden Limited Maturity and Intermediate Term Bond Fund is 0.4 (i.e., Very weak diversification). The correlation of Payden Limited 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 Limited Correlation With Market

Significant diversification

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

  0.77PYAYX Payden Corporate BondPairCorr
  0.75PYBLX Payden Floating RatePairCorr
  0.92PYABX Payden Absolute ReturnPairCorr
  0.79PYACX Payden Porate BondPairCorr
  0.93PYARX Payden Absolute ReturnPairCorr
  0.89PYCEX Payden Emerging MarketsPairCorr
  0.81PYCHX Payden RegalPairCorr
  0.83PYCBX Payden E BondPairCorr
  0.9PYCIX Payden Emerging MarketsPairCorr
  0.84PYCWX Payden E BondPairCorr
  0.85PYCSX Payden Core BondPairCorr
  0.71PYCRX Payden CaliforniaPairCorr
  0.78PYCTX Payden RygelPairCorr
  0.77PYFIX Payden Floating RatePairCorr
  0.75PYFRX Payden Floating RatePairCorr
  0.9PYEIX Payden Emerging MarketsPairCorr
  0.82PYELX Payden Emerging MarketsPairCorr
  0.89PYEMX Payden Emerging MarketsPairCorr
  0.89PYEWX Payden Emerging MarketsPairCorr
  0.8PYHRX Payden High IncomePairCorr
  0.74PYGFX Payden Global FixedPairCorr
  0.82PYGNX Payden Gnma FundPairCorr
  0.78PYGIX Payden Global FixedPairCorr
  0.91PYGSX Payden Global LowPairCorr
  0.84PYILX Payden Rygel InvestmentPairCorr
  0.92PYLSX Payden Limited MaturityPairCorr
  0.91PYLDX Payden RygelPairCorr
  0.9PYSGX Payden Strategic IncomePairCorr
  0.91PYSBX Payden Low DurationPairCorr
  0.89PYSIX Payden Strategic IncomePairCorr
  0.89PYSLX Payden Strategic IncomePairCorr
  0.79PYRLX Payden High IncomePairCorr
  0.87PYUSX Payden GovernmentPairCorr
  0.95PKCIX Payden/kravitz CashPairCorr

Moving against Payden Mutual Fund

  0.47PYVAX Payden Equity IncomePairCorr
  0.47PYVLX Payden Equity IncomePairCorr
  0.47PYVSX 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 Limited 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 Limited'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.