Payden Global Correlations

Mutual Funds . USA . 
Fund . Payden Global Low
PYGSX Fund  USD 9.73  0.01  0.10%   
The current 90-days correlation between Payden Global Low and Payden Corporate Bond is 0.69 (i.e., 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 Low and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Global Low 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 Low. 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 state.

Moving together with Payden Mutual Fund

  0.97PYAYX Payden Corporate BondPairCorr
  0.9PYBLX Payden Floating RatePairCorr
  0.99PYABX Payden Absolute ReturnPairCorr
  0.97PYACX Payden Porate BondPairCorr
  0.98PYAIX Payden Absolute ReturnPairCorr
  0.98PYARX Payden Absolute ReturnPairCorr
  0.96PYCEX Payden Emerging MarketsPairCorr
  0.94PYCHX Payden RegalPairCorr
  0.95PYCBX Payden E BondPairCorr
  0.96PYCIX Payden Emerging MarketsPairCorr
  0.75PYCLX Payden CaliforniaPairCorr
  0.95PYCWX Payden E BondPairCorr
  0.94PYCSX Payden Core BondPairCorr
  0.78PYCRX Payden CaliforniaPairCorr
  0.97PYCTX Payden RygelPairCorr
  0.9PYFIX Payden Floating RatePairCorr
  0.9PYFRX Payden Floating RatePairCorr
  0.95PYEIX Payden Emerging MarketsPairCorr
  0.95PYELX Payden Emerging MarketsPairCorr
  0.95PYEMX Payden Emerging MarketsPairCorr
  0.95PYEWX Payden Emerging MarketsPairCorr
  0.94PYHRX Payden High IncomePairCorr
  0.94PYGFX Payden Global FixedPairCorr
  0.81PYGNX Payden Gnma FundPairCorr
  0.94PYGIX Payden Global FixedPairCorr
  0.95PYILX Payden Rygel InvestmentPairCorr
  0.93PYLMX Payden Limited MaturityPairCorr
  0.97PYLWX Payden Low DurationPairCorr
  0.93PYLSX Payden Limited MaturityPairCorr
  0.92PYLBX Payden Limited MaturityPairCorr
  0.97PYLDX Payden RygelPairCorr
  0.93PYSFX Payden Securitized IncomePairCorr
  0.98PYSGX Payden Strategic IncomePairCorr
  0.97PYSBX Payden Low DurationPairCorr
  0.98PYSIX Payden Strategic IncomePairCorr
  0.94PYRLX Payden High IncomePairCorr
  0.93PYUSX Payden GovernmentPairCorr
  0.85PYVAX Payden Equity IncomePairCorr
  0.86PYVLX 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  0.24  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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