Payden/kravitz Cash Correlations

Mutual Funds . USA . 
Fund . Paydenkravitz Cash Balance
PKCIX Fund  USD 10.59  0.01  0.09%   
The current 90-days correlation between Payden/kravitz Cash and Payden Corporate Bond is 0.76 (i.e., Poor diversification). The correlation of Payden/kravitz Cash 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/kravitz Cash Correlation With Market

Significant diversification

The correlation between Paydenkravitz Cash Balance and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Paydenkravitz Cash Balance 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 Paydenkravitz Cash Balance. 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 gross domestic product.

Moving together with Payden/kravitz Mutual Fund

  0.96PYAYX Payden Corporate BondPairCorr
  0.95PYBLX Payden Floating RatePairCorr
  0.99PYABX Payden Absolute ReturnPairCorr
  0.96PYACX Payden Porate BondPairCorr
  0.99PYAIX Payden Absolute ReturnPairCorr
  0.99PYARX Payden Absolute ReturnPairCorr
  0.98PYCEX Payden Emerging MarketsPairCorr
  0.98PYCHX Payden RegalPairCorr
  0.91PYCBX Payden E BondPairCorr
  0.98PYCIX Payden Emerging MarketsPairCorr
  0.78PYCLX Payden CaliforniaPairCorr
  0.91PYCSX Payden Core BondPairCorr
  0.81PYCRX Payden CaliforniaPairCorr
  0.96PYCTX Payden RygelPairCorr
  0.95PYFIX Payden Floating RatePairCorr
  0.95PYFRX Payden Floating RatePairCorr
  0.98PYEIX Payden Emerging MarketsPairCorr
  0.97PYELX Payden Emerging MarketsPairCorr
  0.98PYEMX Payden Emerging MarketsPairCorr
  0.98PYEWX Payden Emerging MarketsPairCorr
  0.98PYHRX Payden High IncomePairCorr
  0.92PYGFX Payden Global FixedPairCorr
  0.74PYGNX Payden Gnma FundPairCorr
  0.91PYGIX Payden Global FixedPairCorr
  0.98PYGSX Payden Global LowPairCorr
  0.98PYILX Payden Rygel InvestmentPairCorr
  0.95PYLWX Payden Low DurationPairCorr
  0.94PYLSX Payden Limited MaturityPairCorr
  0.96PYLBX Payden Limited MaturityPairCorr
  0.96PYLDX Payden RygelPairCorr
  0.97PYSFX Payden Securitized IncomePairCorr
  0.99PYSGX Payden Strategic IncomePairCorr
  0.95PYSBX Payden Low DurationPairCorr
  0.99PYSIX Payden Strategic IncomePairCorr
  0.98PYSLX Payden Strategic IncomePairCorr
  0.98PYRLX Payden High IncomePairCorr
  0.87PYUSX Payden GovernmentPairCorr
  0.92PYVAX Payden Equity IncomePairCorr
  0.92PYVLX Payden Equity IncomePairCorr
  0.92PYVSX Payden Equity IncomePairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Payden/kravitz Mutual Fund performing well and Payden/kravitz Cash 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/kravitz Cash'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PYAYX  0.24  0.02 (0.29) 0.36  0.16 
(0.28)
 0.52 
(0.42)
 1.35 
PYBLX  0.08  0.05  0.00  0.88  0.00 
 0.00 
 0.21 
 0.00 
 0.54 
PYABX  0.11  0.02 (0.69)(1.04) 0.00 
(0.15)
 0.22 
(0.21)
 0.64 
PYACX  0.25  0.03 (0.27) 0.36  0.18 
(0.28)
 0.53 
(0.51)
 1.25 
PYAIX  0.10  0.02 (0.59)(2.49) 0.00 
(0.14)
 0.21 
(0.21)
 0.53 
PYARX  0.11  0.02 (0.64)(1.40) 0.00 
(0.14)
 0.21 
(0.21)
 0.64 
PYCEX  0.10  0.04 (0.54) 1.01  0.00 
(0.17)
 0.23 
(0.12)
 0.70 
PYCHX  0.15  0.06 (0.31) 0.61  0.00 
(0.22)
 0.33 
(0.16)
 1.06 
PYCBX  0.23  0.02 (0.33) 0.42  0.18 
(0.27)
 0.44 
(0.44)
 1.11 
PYCIX  0.12  0.04 (0.56) 0.78  0.00 
(0.19)
 0.24 
(0.12)
 0.59 

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