Payden Limited Correlations

Mutual Funds . USA . 
Fund . Payden Limited Maturity
PYLSX Fund  USD 9.54  0.01  0.10%   
The current 90-days correlation between Payden Limited Maturity and Tiaa Cref Mid Cap Value is 0.11 (i.e., Average 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

Average diversification

The correlation between Payden Limited Maturity and DJI is 0.19 (i.e., Average 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 state.

Moving together with Payden Mutual Fund

  0.89PYABX Payden Absolute ReturnPairCorr
  0.69PYACX Payden Porate BondPairCorr
  0.77PYCEX Payden Emerging MarketsPairCorr
  0.67PYCHX Payden RegalPairCorr
  0.76PYCBX Payden E BondPairCorr
  0.66PYCRX Payden CaliforniaPairCorr
  0.7PYCTX Payden RygelPairCorr
  0.7PYFIX Payden Floating RatePairCorr
  0.66PYFRX Payden Floating RatePairCorr
  0.77PYEIX Payden Emerging MarketsPairCorr
  0.77PYEMX Payden Emerging MarketsPairCorr
  0.77PYGNX Payden Gnma FundPairCorr
  0.61PYGIX Payden Global FixedPairCorr
  0.72PYILX Payden Rygel InvestmentPairCorr
  0.92PYLMX Payden Limited MaturityPairCorr
  0.95PYLDX Payden RygelPairCorr
  0.95PYSBX Payden Low DurationPairCorr
  0.8PYSIX Payden Strategic IncomePairCorr
  0.89PYUSX Payden GovernmentPairCorr
  0.9PKCIX Payden/kravitz CashPairCorr
  0.88PTSPX Pimco Short TermPairCorr
  0.87PTSHX Short Term FundPairCorr
  0.88PSFAX Short Term FundPairCorr
  0.85PTSRX Short Term FundPairCorr
  0.88PSDNX Putnam Ultra ShortPairCorr
  0.89LUSNX Lord Abbett UltraPairCorr
  0.87VUBFX Vanguard Ultra-short-termPairCorr
  0.88PSDRX Putnam Short DurationPairCorr
  0.91PSDYX Putnam Short DurationPairCorr
  0.73GAAKX Gmo Alternative AlloPairCorr
  0.73GAAGX Gmo Alternative AlloPairCorr
  0.78GPBFX Gmo E PlusPairCorr

Moving against Payden Mutual Fund

  0.53PYVAX Payden Equity IncomePairCorr
  0.75PQTAX Pimco Trends ManagedPairCorr
  0.75PQTNX Pimco Trends ManagedPairCorr
  0.75PQTIX Aa Pimco TrPairCorr
  0.68GPMFX Guidepath Managed FuturesPairCorr

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.

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