Payden Gnma Correlations

PYGNX Fund

USD 7.63 0.01 0.13%

The current 90-days correlation between Payden Gnma Fund and Dunham Porategovernment Bond is 0.9 (i.e., Almost no diversification). The correlation of Payden Gnma 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 Gnma Correlation With Market

Average diversification

The correlation between Payden Gnma Fund and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Gnma Fund 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 Gnma Fund. 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 board of governors.

Moving together with Payden Mutual Fund

0.93	PYAYX	Payden Corporate Bond	Pair Corr
0.87	PYABX	Payden Absolute Return	Pair Corr
0.97	PYACX	Payden Porate Bond	Pair Corr
0.85	PYAIX	Payden Absolute Return	Pair Corr
0.84	PYARX	Payden Absolute Return	Pair Corr
0.93	PYCEX	Payden Emerging Markets	Pair Corr
0.71	PYCHX	Payden Regal	Pair Corr
0.95	PYCBX	Payden E Bond	Pair Corr
0.93	PYCIX	Payden Emerging Markets	Pair Corr
0.79	PYCLX	Payden California	Pair Corr
0.99	PYCWX	Payden E Bond	Pair Corr
0.99	PYCSX	Payden Core Bond	Pair Corr
0.89	PYCRX	Payden California	Pair Corr
0.98	PYCTX	Payden Rygel	Pair Corr
0.91	PYEIX	Payden Emerging Markets	Pair Corr
0.87	PYELX	Payden Emerging Markets	Pair Corr
0.91	PYEMX	Payden Emerging Markets	Pair Corr
0.9	PYEWX	Payden Emerging Markets	Pair Corr
0.71	PYHRX	Payden High Income	Pair Corr
0.9	PYGFX	Payden Global Fixed	Pair Corr
0.91	PYGIX	Payden Global Fixed	Pair Corr
0.93	PYGSX	Payden Global Low	Pair Corr
0.86	PYILX	Payden Rygel Investment	Pair Corr
0.77	PYLMX	Payden Limited Maturity	Pair Corr
0.71	PYLSX	Payden Limited Maturity	Pair Corr
0.85	PYLDX	Payden Rygel	Pair Corr
0.96	PYSGX	Payden Strategic Income	Pair Corr
0.84	PYSBX	Payden Low Duration	Pair Corr
0.96	PYSIX	Payden Strategic Income	Pair Corr
0.91	PYSLX	Payden Strategic Income	Pair Corr
0.68	PYRLX	Payden High Income	Pair Corr
0.9	PYUSX	Payden Government	Pair Corr
0.84	PKCIX	Paydenkravitz Cash	Pair Corr

Moving against Payden Mutual Fund

0.74	SMPIX	Semiconductor Ultrasector	Pair Corr
0.71	SMPSX	Semiconductor Ultrasector	Pair Corr
0.57	RSNYX	Victory Global Natural	Pair Corr

Related Correlations Analysis

	DNCGX	GSOIX	WMBDX	VSBIX	DPIGX	FCSCX	CGTFX
DNCGX		0.98	0.99	0.88	0.87	0.84	0.97	DNCGX
GSOIX	0.98		1.0	0.93	0.92	0.9	1.0	GSOIX
WMBDX	0.99	1.0		0.92	0.91	0.89	0.99	WMBDX
VSBIX	0.88	0.93	0.92		0.96	0.98	0.94	VSBIX
DPIGX	0.87	0.92	0.91	0.96		0.97	0.93	DPIGX
FCSCX	0.84	0.9	0.89	0.98	0.97		0.92	FCSCX
CGTFX	0.97	1.0	0.99	0.94	0.93	0.92		CGTFX
	DNCGX	GSOIX	WMBDX	VSBIX	DPIGX	FCSCX	CGTFX

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Risk-Adjusted Indicators

There is a big difference between Payden Mutual Fund performing well and Payden Gnma 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 Gnma'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
DNCGX	0.21	0.01	0.31	0.26	0.20	(0.23)	0.48	(0.40)	1.22
GSOIX	0.24	0.02	0.28	0.45	0.22	(0.28)	0.62	(0.46)	1.42
WMBDX	0.25	0.02	0.25	0.50	0.23	(0.31)	0.63	(0.51)	1.43
VSBIX	0.06	0.01	0.94	6.53	0.00	(0.08)	0.16	(0.12)	0.33
DPIGX	0.08	0.01	0.67	(1.07)	0.00	(0.14)	0.21	(0.11)	0.53
FCSCX	0.06	0.01	0.58	0.55	0.00	(0.18)	0.13	(0.13)	0.66
CGTFX	0.25	0.02	0.28	0.51	0.24	(0.29)	0.60	(0.43)	1.55

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