Payden Strategic Correlations

Mutual Funds . USA . 
Fund . Payden Strategic Income
PYSGX Fund  USD 9.66  0.01  0.10%   
The current 90-days correlation between Payden Strategic Income and Franklin Biotechnology Discovery is 0.22 (i.e., Modest diversification). The correlation of Payden Strategic 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 Strategic Correlation With Market

Average diversification

The correlation between Payden Strategic Income and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Strategic Income 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 Strategic Income. 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 price.

Moving together with Payden Mutual Fund

  0.91PYAYX Payden Corporate BondPairCorr
  0.69PYBLX Payden Floating RatePairCorr
  0.92PYABX Payden Absolute ReturnPairCorr
  0.96PYACX Payden Porate BondPairCorr
  0.92PYAIX Payden Absolute ReturnPairCorr
  0.9PYARX Payden Absolute ReturnPairCorr
  0.99PYCEX Payden Emerging MarketsPairCorr
  0.84PYCHX Payden RegalPairCorr
  0.94PYCBX Payden E BondPairCorr
  0.99PYCIX Payden Emerging MarketsPairCorr
  0.74PYCLX Payden CaliforniaPairCorr
  0.98PYCWX Payden E BondPairCorr
  0.98PYCSX Payden Core BondPairCorr
  0.83PYCRX Payden CaliforniaPairCorr
  0.95PYCTX Payden RygelPairCorr
  0.67PYFIX Payden Floating RatePairCorr
  0.69PYFRX Payden Floating RatePairCorr
  0.97PYEIX Payden Emerging MarketsPairCorr
  0.92PYELX Payden Emerging MarketsPairCorr
  0.97PYEMX Payden Emerging MarketsPairCorr
  0.97PYEWX Payden Emerging MarketsPairCorr
  0.84PYHRX Payden High IncomePairCorr
  0.9PYGFX Payden Global FixedPairCorr
  0.96PYGNX Payden Gnma FundPairCorr
  0.92PYGIX Payden Global FixedPairCorr
  0.95PYGSX Payden Global LowPairCorr
  0.91PYILX Payden Rygel InvestmentPairCorr
  0.88PYLMX Payden Limited MaturityPairCorr
  0.78PYLSX Payden Limited MaturityPairCorr
  0.87PYLDX Payden RygelPairCorr
  0.86PYSBX Payden Low DurationPairCorr
  1.0PYSIX Payden Strategic IncomePairCorr
  0.94PYSLX Payden Strategic IncomePairCorr
  0.81PYRLX Payden High IncomePairCorr
  0.88PYUSX Payden GovernmentPairCorr
  0.92PKCIX Paydenkravitz CashPairCorr

Moving against Payden Mutual Fund

  0.77SMPIX Semiconductor UltrasectorPairCorr
  0.75SMPSX Semiconductor UltrasectorPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Payden Mutual Fund performing well and Payden Strategic 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 Strategic'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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