Payden Emerging Correlations

PYCEX Fund

USD 8.84 0.01 0.11%

The current 90-days correlation between Payden Emerging Markets and Pnc Emerging Markets is 0.47 (i.e., Very weak diversification). The correlation of Payden Emerging 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 Emerging Correlation With Market

Average diversification

The correlation between Payden Emerging Markets and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Emerging Markets 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 Emerging Markets. 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 income.

Moving together with Payden Mutual Fund

0.71	PYACX	Payden Porate Bond	Pair Corr
0.68	PYAIX	Payden Absolute Return	Pair Corr
0.68	PYARX	Payden Absolute Return	Pair Corr
0.93	PYCHX	Payden Regal	Pair Corr
0.79	PYCBX	Payden E Bond	Pair Corr
1.0	PYCIX	Payden Emerging Markets	Pair Corr
0.79	PYCSX	Payden Core Bond	Pair Corr
0.72	PYCTX	Payden Rygel	Pair Corr
0.62	PYFIX	Payden Floating Rate	Pair Corr
0.96	PYEIX	Payden Emerging Markets	Pair Corr
0.88	PYELX	Payden Emerging Markets	Pair Corr
0.96	PYEMX	Payden Emerging Markets	Pair Corr
0.95	PYEWX	Payden Emerging Markets	Pair Corr
0.93	PYHRX	Payden High Income	Pair Corr
0.83	PYGFX	Payden Global Fixed	Pair Corr
0.66	PYGNX	Payden Gnma Fund	Pair Corr
0.83	PYGIX	Payden Global Fixed	Pair Corr
0.9	PYGSX	Payden Global Low	Pair Corr
0.75	PYLDX	Payden Rygel	Pair Corr
0.74	PYSBX	Payden Low Duration	Pair Corr
0.82	PYUSX	Payden Government	Pair Corr
0.71	PKCIX	Payden/kravitz Cash	Pair Corr
0.71	PKCRX	Payden/kravitz Cash	Pair Corr
0.71	PKBIX	Payden/kravitz Cash	Pair Corr
0.71	PKCBX	Payden/kravitz Cash	Pair Corr
0.97	FGBMX	Fidelity New Markets	Pair Corr
0.97	FGZMX	Fidelity New Markets	Pair Corr
0.96	FGWMX	Fidelity New Markets	Pair Corr
0.96	FGVMX	Fidelity New Markets	Pair Corr
0.96	FGYMX	Fidelity New Markets	Pair Corr
0.88	MEDIX	Mfs Emerging Markets	Pair Corr
0.85	MEDCX	Mfs Emerging Markets	Pair Corr
0.87	MEDAX	Mfs Emerging Markets	Pair Corr
0.85	MEDBX	Mfs Emerging Markets	Pair Corr
0.87	MEDEX	Mfs Emerging Markets	Pair Corr

Moving against Payden Mutual Fund

0.5	SMPIX	Semiconductor Ultrasector	Pair Corr
0.49	SMPSX	Semiconductor Ultrasector	Pair Corr
0.39	FELAX	Fidelity Advisor Sem	Pair Corr
0.38	FIKGX	Fidelity Advisor Sem	Pair Corr
0.38	FELIX	Fidelity Advisor Sem	Pair Corr
0.32	FSELX	Fidelity Select Semi	Pair Corr

Related Correlations Analysis

	PIEFX	DLENX	EGLNX	REMVX	JFAMX	ANGCX	IGIEX
PIEFX		0.82	0.19	0.97	0.92	0.69	0.82	PIEFX
DLENX	0.82		0.46	0.83	0.85	0.88	0.87	DLENX
EGLNX	0.19	0.46		0.18	0.38	0.22	0.23	EGLNX
REMVX	0.97	0.83	0.18		0.91	0.73	0.87	REMVX
JFAMX	0.92	0.85	0.38	0.91		0.68	0.77	JFAMX
ANGCX	0.69	0.88	0.22	0.73	0.68		0.85	ANGCX
IGIEX	0.82	0.87	0.23	0.87	0.77	0.85		IGIEX
	PIEFX	DLENX	EGLNX	REMVX	JFAMX	ANGCX	IGIEX

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Risk-Adjusted Indicators

There is a big difference between Payden Mutual Fund performing well and Payden Emerging 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 Emerging'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
PIEFX	0.78	0.03	0.05	0.21	1.07	(0.75)	1.49	(1.98)	4.52
DLENX	0.12	0.02	0.24	1.17	0.00	(0.16)	0.22	(0.11)	0.67
EGLNX	1.04	0.03	0.02	0.02	1.47	(1.00)	1.88	(2.57)	6.25
REMVX	0.67	0.07	0.09	0.16	0.76	(0.74)	1.47	(1.38)	3.39
JFAMX	0.74	0.04	0.05	0.08	1.01	(0.72)	1.51	(1.53)	4.22
ANGCX	0.12	0.02	0.23	1.06	0.00	(0.21)	0.35	(0.24)	0.94
IGIEX	0.26	0.04	0.14	0.52	0.21	(0.35)	0.72	(0.49)	1.57

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