Payden Core Correlations

PYCBX Fund

USD 9.22 0.03 0.32%

The current 90-days correlation between Payden E Bond and Dodge Cox Stock is 0.21 (i.e., Modest diversification). The correlation of Payden Core 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 Core Correlation With Market

Average diversification

The correlation between Payden E Bond and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden E Bond 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 E Bond. 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 bureau of labor statistics.

Moving together with PAYDEN Mutual Fund

0.87	MWTNX	Metropolitan West Total	Pair Corr
0.88	MWTSX	Metropolitan West Total	Pair Corr
0.87	PTTPX	Pimco Total Return	Pair Corr
0.87	PTRRX	Total Return	Pair Corr
0.87	PTRAX	Total Return	Pair Corr
0.86	PTTRX	Total Return	Pair Corr
0.89	FIWGX	Strategic Advisers	Pair Corr
0.91	DODIX	Dodge Income	Pair Corr
0.87	MWTIX	Metropolitan West Total	Pair Corr
0.88	MWTRX	Metropolitan West Total	Pair Corr
0.77	VGTSX	Vanguard Total Inter	Pair Corr
0.77	VTIAX	Vanguard Total Inter	Pair Corr
0.73	JSEAX	Jpmorgan International	Pair Corr
0.82	VZ	Verizon Communications	Pair Corr
0.7	TRV	The Travelers Companies	Pair Corr
0.7	MCD	McDonalds	Pair Corr

Moving against PAYDEN Mutual Fund

0.33	VSMPX	Vanguard Total Stock	Pair Corr
0.33	VSTSX	Vanguard Total Stock	Pair Corr
0.33	VITSX	Vanguard Total Stock	Pair Corr
0.31	VFFSX	Vanguard 500 Index	Pair Corr
0.53	AA	Alcoa Corp	Pair Corr
0.5	AXP	American Express	Pair Corr
0.48	CAT	Caterpillar	Pair Corr
0.39	HPQ	HP Inc	Pair Corr
0.37	BA	Boeing	Pair Corr

Related Correlations Analysis

	DOXGX	FCLKX	DNLVX	CBLSX	TRCPX	TALCX
DOXGX		0.51	0.39	0.21	0.98	0.75	DOXGX
FCLKX	0.51		0.75	0.29	0.64	0.88	FCLKX
DNLVX	0.39	0.75		0.54	0.51	0.8	DNLVX
CBLSX	0.21	0.29	0.54		0.24	0.4	CBLSX
TRCPX	0.98	0.64	0.51	0.24		0.83	TRCPX
TALCX	0.75	0.88	0.8	0.4	0.83		TALCX
	DOXGX	FCLKX	DNLVX	CBLSX	TRCPX	TALCX

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Risk-Adjusted Indicators

There is a big difference between PAYDEN Mutual Fund performing well and Payden Core 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 Core'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DOXGX	0.63	(0.02)	0.07	0.11	0.91	(0.61)	1.30	(1.41)	3.35
FCLKX	0.83	(0.01)	0.00	(0.08)	0.00	0.00	1.58	(2.15)	5.00
DNLVX	0.70	(0.05)	0.00	(0.14)	0.00	0.00	1.24	(1.35)	5.97
CBLSX	1.06	(0.32)	0.00	(0.41)	0.00	0.00	1.17	(1.57)	24.96
TRCPX	0.65	(0.04)	0.00	0.32	0.00	0.00	1.21	(1.53)	3.55
TALCX	0.65	(0.01)	0.00	(0.09)	0.00	0.00	1.36	(1.38)	3.68

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