Payden Limited Correlations

PYLMX Fund

USD 9.57 0.01 0.10%

The current 90-days correlation between Payden Limited Maturity and Oil Gas Ultrasector is 0.1 (i.e., Average diversification). The correlation of Payden Limited 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 Limited Correlation With Market

Significant diversification

The correlation between Payden Limited Maturity and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Limited Maturity 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 Limited Maturity. 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 population.

Moving together with PAYDEN Mutual Fund

0.91	PYAIX	Payden Absolute Return	Pair Corr
0.91	PYARX	Payden Absolute Return	Pair Corr
0.63	PYCHX	Payden Regal	Pair Corr
0.89	PYFIX	Payden Floating Rate	Pair Corr
0.88	PYFRX	Payden Floating Rate	Pair Corr
0.65	PYHRX	Payden High Income	Pair Corr
0.79	PYGSX	Payden Global Low	Pair Corr
0.99	PYLSX	Payden Limited Maturity	Pair Corr
0.88	PYLDX	Payden Rygel	Pair Corr
0.89	PYSBX	Payden Low Duration	Pair Corr
0.62	PYUSX	Payden Government	Pair Corr
0.9	PKCIX	Payden/kravitz Cash	Pair Corr
0.9	PKCRX	Payden/kravitz Cash	Pair Corr
0.9	PKBIX	Payden/kravitz Cash	Pair Corr
0.9	PKCBX	Payden/kravitz Cash	Pair Corr
0.91	PTSPX	Pimco Short Term	Pair Corr
0.91	PTSHX	Short Term Fund	Pair Corr
0.9	PSFAX	Short Term Fund	Pair Corr

Moving against PAYDEN Mutual Fund

0.77	PYVAX	Payden Equity Income	Pair Corr
0.77	PYVLX	Payden Equity Income	Pair Corr
0.77	PYVSX	Payden Equity Income	Pair Corr
0.41	RYCCX	Nasdaq 100 2x	Pair Corr

Related Correlations Analysis

	ENPSX	VENAX	SNPIX	IEFCX	XEMOX	PEO	BACCX
ENPSX		0.99	-1.0	0.95	0.77	0.96	0.98	ENPSX
VENAX	0.99		-0.99	0.97	0.81	0.97	0.99	VENAX
SNPIX	-1.0	-0.99		-0.97	-0.8	-0.97	-0.99	SNPIX
IEFCX	0.95	0.97	-0.97		0.89	0.97	0.97	IEFCX
XEMOX	0.77	0.81	-0.8	0.89		0.85	0.8	XEMOX
PEO	0.96	0.97	-0.97	0.97	0.85		0.96	PEO
BACCX	0.98	0.99	-0.99	0.97	0.8	0.96		BACCX
	ENPSX	VENAX	SNPIX	IEFCX	XEMOX	PEO	BACCX

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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

VENAX	+ 0.99	ENPSX
BACCX	+ 0.99	VENAX
BACCX	+ 0.98	ENPSX
IEFCX	+ 0.97	VENAX
PEO	+ 0.97	VENAX
PEO	+ 0.97	IEFCX

High negative correlations

SNPIX	- 1.0	ENPSX
BACCX	- 0.99	SNPIX
SNPIX	- 0.99	VENAX
PEO	- 0.97	SNPIX
IEFCX	- 0.97	SNPIX
XEMOX	- 0.8	SNPIX

Risk-Adjusted Indicators

There is a big difference between PAYDEN Mutual Fund performing well and Payden Limited 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 Limited'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
ENPSX	1.39	(0.13)	0.00	(0.19)	0.00	0.00	2.37	(3.54)	7.38
VENAX	0.93	(0.09)	0.00	(0.20)	0.00	0.00	1.53	(2.31)	4.83
SNPIX	0.93	0.09	0.12	(0.18)	0.87	(1.13)	2.35	(1.58)	4.99
IEFCX	0.83	(0.06)	0.00	(0.15)	0.00	0.00	1.25	(2.18)	4.47
XEMOX	1.08	(0.01)	0.00	(0.04)	0.00	0.00	2.03	(3.03)	6.66
PEO	0.86	(0.05)	0.00	(0.16)	0.00	0.00	1.45	(1.87)	5.71
BACCX	0.80	(0.08)	0.00	(0.21)	0.00	0.00	1.24	(1.90)	4.22

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