Payden Equity Correlations
| PYVLX Fund | USD 16.08 0.03 0.19% |
The current 90-days correlation between Payden Equity Income and Payden Emerging Markets is 0.19 (i.e., Average diversification). The correlation of Payden Equity 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 Equity Correlation With Market
Modest diversification
The correlation between Payden Equity Income and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Equity Income and DJI in the same portfolio, assuming nothing else is changed.
Payden |
Moving together with Payden Mutual Fund
Moving against Payden Mutual Fund
| 0.52 | PYARX | Payden Absolute Return | PairCorr |
| 0.52 | PYLMX | Payden Limited Maturity | PairCorr |
| 0.51 | PYAIX | Payden Absolute Return | PairCorr |
| 0.47 | PYABX | Payden Absolute Return | PairCorr |
| 0.43 | PYGSX | Payden Global Low | PairCorr |
| 0.42 | PYFIX | Payden Floating Rate | PairCorr |
| 0.41 | PYFRX | Payden Floating Rate | PairCorr |
| 0.34 | PYBLX | Payden Floating Rate | PairCorr |
| 0.56 | PYLSX | Payden Limited Maturity | PairCorr |
| 0.52 | PKBIX | Payden/kravitz Cash | PairCorr |
| 0.51 | PKCIX | Paydenkravitz Cash | PairCorr |
| 0.5 | PKCBX | Paydenkravitz Cash | PairCorr |
| 0.48 | PKCRX | Paydenkravitz Cash | PairCorr |
| 0.47 | PYSBX | Payden Low Duration | PairCorr |
| 0.43 | PYLDX | Payden Rygel | PairCorr |
| 0.34 | PYUSX | Payden Government | PairCorr |
Related Correlations Analysis
| 0.9 | 0.9 | -0.08 | -0.09 | PYEMX | ||
| 0.9 | 0.84 | -0.21 | -0.17 | DFWIX | ||
| 0.9 | 0.84 | -0.23 | -0.11 | PYGNX | ||
| -0.08 | -0.21 | -0.23 | 0.85 | NOLCX | ||
| -0.09 | -0.17 | -0.11 | 0.85 | PYVSX | ||
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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
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between Payden Mutual Fund performing well and Payden Equity 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 Equity'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| PYEMX | 0.18 | 0.00 | 0.26 | 0.01 | 0.22 | 0.38 | 1.16 | |||
| DFWIX | 0.57 | 0.10 | 0.17 | 0.13 | 0.67 | 1.21 | 4.56 | |||
| PYGNX | 0.27 | 0.01 | 0.21 | 0.04 | 0.28 | 0.66 | 1.62 | |||
| NOLCX | 0.90 | (0.23) | 0.00 | 0.95 | 0.00 | 1.20 | 8.11 | |||
| PYVSX | 0.87 | (0.25) | 0.00 | (0.64) | 0.00 | 1.20 | 14.89 |