Payden Floating Rate Fund Market Value
| PYBLX Fund | 9.80 0.01 0.10% |
| Symbol | Payden |
Payden Floating 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Payden Floating's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Payden Floating.
| 12/30/2022 |
| 12/19/2024 |
If you would invest 0.00 in Payden Floating on December 30, 2022 and sell it all today you would earn a total of 0.00 from holding Payden Floating Rate or generate 0.0% return on investment in Payden Floating over 720 days.
Payden Floating Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Payden Floating's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Payden Floating Rate upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.04) | |||
| Maximum Drawdown | 0.7142 | |||
| Potential Upside | 0.1035 |
Payden Floating Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Payden Floating's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Payden Floating's standard deviation. In reality, there are many statistical measures that can use Payden Floating historical prices to predict the future Payden Floating's volatility.| Risk Adjusted Performance | 0.1698 | |||
| Jensen Alpha | 0.0191 | |||
| Total Risk Alpha | 0.0168 | |||
| Treynor Ratio | 0.7648 |
Payden Floating Rate Backtested Returns
At this stage we consider Payden Mutual Fund to be very steady. Payden Floating Rate maintains Sharpe Ratio (i.e., Efficiency) of 0.24, which implies the entity had a 0.24% return per unit of risk over the last 3 months. We have found twenty technical indicators for Payden Floating Rate, which you can use to evaluate the volatility of the fund. Please check Payden Floating's Risk Adjusted Performance of 0.1698, coefficient of variation of 329.42, and Variance of 0.0095 to confirm if the risk estimate we provide is consistent with the expected return of 0.0242%. The fund holds a Beta of 0.0257, which implies not very significant fluctuations relative to the market. As returns on the market increase, Payden Floating's returns are expected to increase less than the market. However, during the bear market, the loss of holding Payden Floating is expected to be smaller as well.
Auto-correlation | 0.94 |
Excellent predictability
Payden Floating Rate has excellent predictability. Overlapping area represents the amount of predictability between Payden Floating time series from 30th of December 2022 to 25th of December 2023 and 25th of December 2023 to 19th of December 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Payden Floating Rate price movement. The serial correlation of 0.94 indicates that approximately 94.0% of current Payden Floating price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.94 | |
| Spearman Rank Test | 1.0 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Payden Floating Rate lagged returns against current returns
Autocorrelation, which is Payden Floating mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Payden Floating's mutual fund expected returns. We can calculate the autocorrelation of Payden Floating returns to help us make a trade decision. For example, suppose you find that Payden Floating has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Payden Floating regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Payden Floating mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Payden Floating mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Payden Floating mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Payden Floating Lagged Returns
When evaluating Payden Floating's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Payden Floating mutual fund have on its future price. Payden Floating autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Payden Floating autocorrelation shows the relationship between Payden Floating mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Payden Floating Rate.
Regressed Prices |
| Timeline |
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