Payden California Correlations

Mutual Funds . USA . 
Fund . Payden California Muncipal
PYCRX Fund  USD 9.65  0.03  0.31%   
The current 90-days correlation between Payden California and Payden Corporate Bond is 0.38 (i.e., Weak diversification). The correlation of Payden California 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 California Correlation With Market

Significant diversification

The correlation between Payden California Muncipal and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden California Muncipal 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 California Muncipal. 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 metropolitan statistical area.

Moving together with Payden Mutual Fund

  0.81PYAYX Payden Corporate BondPairCorr
  0.76PYBLX Payden Floating RatePairCorr
  0.82PYABX Payden Absolute ReturnPairCorr
  0.73PYACX Payden Porate BondPairCorr
  0.78PYAIX Payden Absolute ReturnPairCorr
  0.76PYARX Payden Absolute ReturnPairCorr
  0.75PYCEX Payden Emerging MarketsPairCorr
  0.8PYCHX Payden RegalPairCorr
  0.75PYCBX Payden E BondPairCorr
  0.75PYCIX Payden Emerging MarketsPairCorr
  0.99PYCLX Payden CaliforniaPairCorr
  0.77PYCWX Payden E BondPairCorr
  0.73PYCTX Payden RygelPairCorr
  0.76PYFIX Payden Floating RatePairCorr
  0.76PYFRX Payden Floating RatePairCorr
  0.81PYEIX Payden Emerging MarketsPairCorr
  0.79PYELX Payden Emerging MarketsPairCorr
  0.79PYEMX Payden Emerging MarketsPairCorr
  0.81PYEWX Payden Emerging MarketsPairCorr
  0.69PYGFX Payden Global FixedPairCorr
  0.69PYGNX Payden Gnma FundPairCorr
  0.77PYGIX Payden Global FixedPairCorr
  0.72PYGSX Payden Global LowPairCorr
  0.8PYILX Payden Rygel InvestmentPairCorr
  0.83PYLMX Payden Limited MaturityPairCorr
  0.8PYLWX Payden Low DurationPairCorr
  0.83PYLSX Payden Limited MaturityPairCorr
  0.83PYLBX Payden Limited MaturityPairCorr
  0.77PYSFX Payden Securitized IncomePairCorr
  0.77PYSBX Payden Low DurationPairCorr
  0.75PYSIX Payden Strategic IncomePairCorr
  0.79PYRLX Payden High IncomePairCorr
  0.75PYUSX Payden GovernmentPairCorr
  0.81PYVAX Payden Equity IncomePairCorr
  0.81PYVLX Payden Equity IncomePairCorr
  0.81PYVSX Payden Equity IncomePairCorr
  0.81PKCIX Payden/kravitz CashPairCorr
  0.77PKCRX Payden/kravitz CashPairCorr
  0.82PKBIX Payden/kravitz CashPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Payden Mutual Fund performing well and Payden California 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 California'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  0.04 (0.31)(1.81) 0.16 
(0.28)
 0.52 
(0.42)
 1.35 
PYBLX  0.08  0.06  0.00 (15.02) 0.00 
 0.00 
 0.21 
 0.00 
 0.54 
PYABX  0.11  0.02 (0.72) 8.73  0.00 
(0.15)
 0.22 
(0.21)
 0.64 
PYACX  0.25  0.02 (0.29) 0.35  0.18 
(0.28)
 0.53 
(0.51)
 1.25 
PYAIX  0.10  0.03 (0.61)(2.53) 0.00 
(0.14)
 0.21 
(0.21)
 0.53 
PYARX  0.11  0.02 (0.67)(1.43) 0.00 
(0.14)
 0.21 
(0.21)
 0.64 
PYCEX  0.10  0.04 (0.59) 0.93  0.00 
(0.17)
 0.23 
(0.12)
 0.70 
PYCHX  0.15  0.08 (0.34)(1.81) 0.00 
(0.22)
 0.33 
(0.16)
 1.06 
PYCBX  0.23  0.02 (0.34) 5.20  0.18 
(0.27)
 0.44 
(0.44)
 1.11 
PYCIX  0.12  0.04 (0.60) 0.77  0.00 
(0.19)
 0.24 
(0.12)
 0.59 

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2025 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY