Payden Strategic Correlations

Mutual Funds . USA . 
Fund . Payden Strategic Income
PYSIX Fund  USD 9.67  0.01  0.10%   
The current 90-days correlation between Payden Strategic Income and Angel Oak Ultrashort is 0.25 (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

Modest diversification

The correlation between Payden Strategic Income and DJI is 0.24 (i.e., Modest 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 gross domestic product.

Moving together with Payden Mutual Fund

  0.83PYACX Payden Porate BondPairCorr
  0.97PYCEX Payden Emerging MarketsPairCorr
  0.91PYCHX Payden RegalPairCorr
  0.89PYCBX Payden E BondPairCorr
  0.97PYCIX Payden Emerging MarketsPairCorr
  0.88PYCWX Payden E BondPairCorr
  0.89PYCSX Payden Core BondPairCorr
  0.66PYCRX Payden CaliforniaPairCorr
  0.83PYCTX Payden RygelPairCorr
  0.97PYEIX Payden Emerging MarketsPairCorr
  0.88PYELX Payden Emerging MarketsPairCorr
  0.97PYEMX Payden Emerging MarketsPairCorr
  0.97PYEWX Payden Emerging MarketsPairCorr
  0.91PYHRX Payden High IncomePairCorr
  0.91PYGFX Payden Global FixedPairCorr
  0.79PYGNX Payden Gnma FundPairCorr
  0.91PYGIX Payden Global FixedPairCorr
  0.85PYGSX Payden Global LowPairCorr
  0.88PYILX Payden Rygel InvestmentPairCorr
  0.74PYLDX Payden RygelPairCorr
  1.0PYSGX Payden Strategic IncomePairCorr
  0.73PYSBX Payden Low DurationPairCorr
  0.88PYUSX Payden GovernmentPairCorr
  0.61PKCIX Payden/kravitz CashPairCorr
  0.61PKCRX Payden/kravitz CashPairCorr
  0.61PKBIX Payden/kravitz CashPairCorr
  0.62PKCBX Payden/kravitz CashPairCorr
  0.84VBIRX Vanguard Short TermPairCorr
  0.82VFSUX Vanguard Short TermPairCorr
  0.93VFSIX Vanguard Short TermPairCorr

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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