Payden Rygel Correlations

PYILX Fund

USD 4.50 0.03 0.66%

The correlation of Payden Rygel 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 Rygel Correlation With Market

Weak diversification

The correlation between Payden Rygel Investment and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Rygel Investment 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 Rygel Investment. 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 economic analysis.

Moving together with Payden Mutual Fund

0.7	PYACX	Payden Porate Bond	Pair Corr
0.86	PYCEX	Payden Emerging Markets	Pair Corr
0.87	PYCHX	Payden Regal	Pair Corr
0.72	PYCBX	Payden E Bond	Pair Corr
0.83	PYCIX	Payden Emerging Markets	Pair Corr
0.78	PYCWX	Payden E Bond	Pair Corr
0.73	PYCSX	Payden Core Bond	Pair Corr
0.76	PYCTX	Payden Rygel	Pair Corr
0.88	PYEIX	Payden Emerging Markets	Pair Corr
0.94	PYELX	Payden Emerging Markets	Pair Corr
0.88	PYEMX	Payden Emerging Markets	Pair Corr
0.87	PYEWX	Payden Emerging Markets	Pair Corr
0.87	PYHRX	Payden High Income	Pair Corr
0.74	PYGFX	Payden Global Fixed	Pair Corr
0.67	PYGNX	Payden Gnma Fund	Pair Corr
0.76	PYGIX	Payden Global Fixed	Pair Corr
0.77	PYGSX	Payden Global Low	Pair Corr
0.9	PYSGX	Payden Strategic Income	Pair Corr
0.83	PYSIX	Payden Strategic Income	Pair Corr
0.84	PLMPX	Pimco Emerging Markets	Pair Corr
0.83	PLMIX	Pimco Emerging Markets	Pair Corr
0.93	PELPX	Pimco Emerging Local	Pair Corr
0.91	PELBX	Pimco Emerging Local	Pair Corr

Related Correlations Analysis

	FSULTX	FBANJX	FKHEMX	FUHKBX	FZDAQX	CPUCX	FWNHTX	FLKYPX
FSULTX		0.49	0.02	-0.21	0.81	0.7	0.63	-0.11	FSULTX
FBANJX	0.49		0.78	0.37	0.62	0.5	0.37	0.66	FBANJX
FKHEMX	0.02	0.78		0.67	0.31	0.0	0.32	0.94	FKHEMX
FUHKBX	-0.21	0.37	0.67		0.23	-0.21	0.17	0.74	FUHKBX
FZDAQX	0.81	0.62	0.31	0.23		0.7	0.65	0.18	FZDAQX
CPUCX	0.7	0.5	0.0	-0.21	0.7		0.65	-0.09	CPUCX
FWNHTX	0.63	0.37	0.32	0.17	0.65	0.65		0.18	FWNHTX
FLKYPX	-0.11	0.66	0.94	0.74	0.18	-0.09	0.18		FLKYPX
	FSULTX	FBANJX	FKHEMX	FUHKBX	FZDAQX	CPUCX	FWNHTX	FLKYPX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

FLKYPX	+ 0.94	FKHEMX
FZDAQX	+ 0.81	FSULTX
FKHEMX	+ 0.78	FBANJX
FLKYPX	+ 0.74	FUHKBX
CPUCX	+ 0.7	FSULTX
CPUCX	+ 0.7	FZDAQX

High negative correlations

CPUCX	- 0.21	FUHKBX
FUHKBX	- 0.21	FSULTX
FLKYPX	- 0.11	FSULTX
FLKYPX	- 0.09	CPUCX
CPUCX	- 0.0	FKHEMX

Risk-Adjusted Indicators

There is a big difference between Payden Mutual Fund performing well and Payden Rygel 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 Rygel'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
FSULTX	0.28	0.04	0.14	0.62	0.30	(0.31)	0.61	(0.42)	1.75
FBANJX	0.49	0.01	0.03	0.01	0.67	(0.54)	1.03	(1.14)	2.83
FKHEMX	0.68	0.02	0.04	0.05	0.96	(0.72)	1.38	(2.00)	3.83
FUHKBX	0.61	0.01	0.03	0.00	0.79	(0.67)	1.11	(1.56)	3.07
FZDAQX	0.12	0.01	0.09	0.06	0.15	(0.15)	0.21	(0.21)	0.93
CPUCX	0.26	0.02	0.12	0.18	0.22	(0.33)	0.66	(0.54)	1.54
FWNHTX	0.02	(0.01)	0.56	(2.16)	0.00	(0.02)	0.05	(0.04)	0.16
FLKYPX	0.84	0.03	0.03	0.12	1.41	(0.82)	1.80	(2.43)	6.36

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