Payden Global Correlations

Mutual Funds USA . 
Fund . Payden Global Fixed
PYGIX Fund  USD 7.62  0.01  0.13%   
The current 90-days correlation between Payden Global Fixed and Payden Corporate Bond is 0.89 (i.e., Very poor diversification). The correlation of Payden Global 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 Global Correlation With Market

Good diversification

The correlation between Payden Global Fixed and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Global Fixed 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 Global Fixed. 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 Mutual Fund

  0.98PYAYX Payden Corporate BondPairCorr
  0.79PYBLX Payden Floating RatePairCorr
  0.95PYABX Payden Absolute ReturnPairCorr
  0.94PYACX Payden Porate BondPairCorr
  0.94PYAIX Payden Absolute ReturnPairCorr
  0.93PYARX Payden Absolute ReturnPairCorr
  0.91PYCEX Payden Emerging MarketsPairCorr
  0.87PYCHX Payden RegalPairCorr
  0.99PYCBX Payden E BondPairCorr
  0.91PYCIX Payden Emerging MarketsPairCorr
  0.79PYCLX Payden CaliforniaPairCorr
  0.95PYCWX Payden E BondPairCorr
  0.95PYCSX Payden Core BondPairCorr
  0.8PYCRX Payden CaliforniaPairCorr
  0.98PYCTX Payden RygelPairCorr
  0.79PYFIX Payden Floating RatePairCorr
  0.79PYFRX Payden Floating RatePairCorr
  0.9PYEIX Payden Emerging MarketsPairCorr
  0.9PYELX Payden Emerging MarketsPairCorr
  0.9PYEMX Payden Emerging MarketsPairCorr
  0.9PYEWX Payden Emerging MarketsPairCorr
  0.87PYHRX Payden High IncomePairCorr
  1.0PYGFX Payden Global FixedPairCorr
  0.85PYGNX Payden Gnma FundPairCorr
  0.93PYGSX Payden Global LowPairCorr
  0.9PYILX Payden Rygel InvestmentPairCorr
  0.86PYLMX Payden Limited MaturityPairCorr
  0.94PYLWX Payden Low DurationPairCorr
  0.84PYLSX Payden Limited MaturityPairCorr
  0.86PYLBX Payden Limited MaturityPairCorr
  0.93PYLDX Payden RygelPairCorr
  0.84PYSFX Payden Securitized IncomePairCorr
  0.94PYSGX Payden Strategic IncomePairCorr
  0.93PYSBX Payden Low DurationPairCorr
  0.94PYSIX Payden Strategic IncomePairCorr
  0.96PYSLX Payden Strategic IncomePairCorr
  0.87PYRLX Payden High IncomePairCorr
  0.95PYUSX Payden GovernmentPairCorr
  0.76PYVAX Payden Equity IncomePairCorr

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 Global 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 Global'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  0.25  0.05 (0.26)(1.72) 0.13 
(0.30)
 0.62 
(0.42)
 1.57 
PYBLX  0.08  0.06  0.00 (8.51) 0.00 
 0.00 
 0.22 
 0.00 
 0.54 
PYABX  0.11  0.03 (0.65)(16.10) 0.00 
(0.16)
 0.32 
(0.21)
 0.75 
PYACX  0.25  0.03 (0.27) 0.36  0.18 
(0.28)
 0.53 
(0.51)
 1.25 
PYAIX  0.10  0.03 (0.57) 5.36  0.00 
(0.15)
 0.21 
(0.21)
 0.64 
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  0.08 (0.28)(1.78) 0.00 
(0.23)
 0.49 
(0.16)
 1.06 
PYCBX  0.24  0.04 (0.30)(19.87) 0.15 
(0.29)
 0.45 
(0.44)
 1.34 
PYCIX  0.12  0.04 (0.56) 0.78  0.00 
(0.19)
 0.24 
(0.12)
 0.59 

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