Payden Limited Correlations

Mutual Funds USA . 
Fund . Payden Limited Maturity
PYLBX Fund   9.53  0.01  0.11%   
The current 90-days correlation between Payden Limited Maturity and Payden Corporate Bond is 0.25 (i.e., Modest diversification). The correlation of Payden Limited 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 Limited Correlation With Market

Average diversification

The correlation between Payden Limited Maturity and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Limited Maturity 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 Limited Maturity. 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 bureau of labor statistics.

Moving together with Payden Mutual Fund

  0.9PYAYX Payden Corporate BondPairCorr
  0.97PYBLX Payden Floating RatePairCorr
  0.94PYABX Payden Absolute ReturnPairCorr
  0.9PYACX Payden Porate BondPairCorr
  0.94PYAIX Payden Absolute ReturnPairCorr
  0.94PYARX Payden Absolute ReturnPairCorr
  0.95PYCEX Payden Emerging MarketsPairCorr
  0.96PYCHX Payden RegalPairCorr
  0.82PYCBX Payden E BondPairCorr
  0.95PYCIX Payden Emerging MarketsPairCorr
  0.79PYCLX Payden CaliforniaPairCorr
  0.82PYCWX Payden E BondPairCorr
  0.81PYCSX Payden Core BondPairCorr
  0.83PYCRX Payden CaliforniaPairCorr
  0.9PYCTX Payden RygelPairCorr
  0.96PYFIX Payden Floating RatePairCorr
  0.96PYFRX Payden Floating RatePairCorr
  0.95PYEIX Payden Emerging MarketsPairCorr
  0.96PYELX Payden Emerging MarketsPairCorr
  0.96PYEMX Payden Emerging MarketsPairCorr
  0.95PYEWX Payden Emerging MarketsPairCorr
  0.96PYHRX Payden High IncomePairCorr
  0.84PYGFX Payden Global FixedPairCorr
  0.66PYGNX Payden Gnma FundPairCorr
  0.84PYGIX Payden Global FixedPairCorr
  0.92PYGSX Payden Global LowPairCorr
  0.96PYILX Payden Rygel InvestmentPairCorr
  1.0PYLMX Payden Limited MaturityPairCorr
  0.94PYLWX Payden Low DurationPairCorr
  0.99PYLSX Payden Limited MaturityPairCorr
  0.95PYLDX Payden RygelPairCorr
  0.97PYSFX Payden Securitized IncomePairCorr
  0.94PYSGX Payden Strategic IncomePairCorr
  0.95PYSBX Payden Low DurationPairCorr
  0.94PYSIX Payden Strategic IncomePairCorr
  0.96PYRLX Payden High IncomePairCorr
  0.83PYUSX Payden GovernmentPairCorr
  0.95PYVAX Payden Equity IncomePairCorr
  0.95PYVLX 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 Limited 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 Limited'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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