Payden High Income Fund Market Value
| PYRLX Fund | 6.42 0.01 0.16% |
| Symbol | Payden |
Payden High '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 High'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 High.
| 12/17/2023 |
| 12/11/2024 |
If you would invest 0.00 in Payden High on December 17, 2023 and sell it all today you would earn a total of 0.00 from holding Payden High Income or generate 0.0% return on investment in Payden High over 360 days.
Payden High 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 High'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 High Income upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.2508 | |||
| Information Ratio | (0.72) | |||
| Maximum Drawdown | 0.937 | |||
| Value At Risk | (0.16) | |||
| Potential Upside | 0.1575 |
Payden High Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Payden High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Payden High's standard deviation. In reality, there are many statistical measures that can use Payden High historical prices to predict the future Payden High's volatility.| Risk Adjusted Performance | 0.0423 | |||
| Jensen Alpha | 0.0056 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | (0.43) | |||
| Treynor Ratio | 0.6658 |
Payden High Income Backtested Returns
At this stage we consider Payden Mutual Fund to be very steady. Payden High Income maintains Sharpe Ratio (i.e., Efficiency) of 0.0998, which implies the entity had a 0.0998% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Payden High Income, which you can use to evaluate the volatility of the fund. Please check Payden High's Semi Deviation of 0.007, risk adjusted performance of 0.0423, and Coefficient Of Variation of 900.0 to confirm if the risk estimate we provide is consistent with the expected return of 0.015%. The fund holds a Beta of 0.0101, which implies not very significant fluctuations relative to the market. As returns on the market increase, Payden High's returns are expected to increase less than the market. However, during the bear market, the loss of holding Payden High is expected to be smaller as well.
Auto-correlation | 0.86 |
Very good predictability
Payden High Income has very good predictability. Overlapping area represents the amount of predictability between Payden High time series from 17th of December 2023 to 14th of June 2024 and 14th of June 2024 to 11th 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 High Income price movement. The serial correlation of 0.86 indicates that approximately 86.0% of current Payden High price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.86 | |
| Spearman Rank Test | 0.86 | |
| Residual Average | 0.0 | |
| Price Variance | 0.01 |
Payden High Income lagged returns against current returns
Autocorrelation, which is Payden High 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 High's mutual fund expected returns. We can calculate the autocorrelation of Payden High returns to help us make a trade decision. For example, suppose you find that Payden High 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 High 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 High mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Payden High 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 High mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Payden High Lagged Returns
When evaluating Payden High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Payden High mutual fund have on its future price. Payden High 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 High autocorrelation shows the relationship between Payden High mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Payden High Income.
Regressed Prices |
| Timeline |
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