Payden Low Correlations

Mutual Funds USA . 
Fund . Payden Low Duration
PYSBX Fund  USD 9.83  0.01  0.10%   
The current 90-days correlation between Payden Low Duration and Payden Corporate Bond is 0.45 (i.e., Very weak diversification). The correlation of Payden Low 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 Low Correlation With Market

Good diversification

The correlation between Payden Low Duration and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Low Duration 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 Low Duration. 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

  0.94PYAYX Payden Corporate BondPairCorr
  0.89PYBLX Payden Floating RatePairCorr
  0.96PYABX Payden Absolute ReturnPairCorr
  0.94PYACX Payden Porate BondPairCorr
  0.96PYAIX Payden Absolute ReturnPairCorr
  0.96PYARX Payden Absolute ReturnPairCorr
  0.93PYCEX Payden Emerging MarketsPairCorr
  0.91PYCHX Payden RegalPairCorr
  0.92PYCBX Payden E BondPairCorr
  0.93PYCIX Payden Emerging MarketsPairCorr
  0.8PYCLX Payden CaliforniaPairCorr
  0.92PYCWX Payden E BondPairCorr
  0.91PYCSX Payden Core BondPairCorr
  0.82PYCRX Payden CaliforniaPairCorr
  0.94PYCTX Payden RygelPairCorr
  0.89PYFIX Payden Floating RatePairCorr
  0.88PYFRX Payden Floating RatePairCorr
  0.93PYEIX Payden Emerging MarketsPairCorr
  0.94PYELX Payden Emerging MarketsPairCorr
  0.93PYEMX Payden Emerging MarketsPairCorr
  0.93PYEWX Payden Emerging MarketsPairCorr
  0.91PYHRX Payden High IncomePairCorr
  0.92PYGFX Payden Global FixedPairCorr
  0.82PYGNX Payden Gnma FundPairCorr
  0.92PYGIX Payden Global FixedPairCorr
  0.97PYGSX Payden Global LowPairCorr
  0.94PYILX Payden Rygel InvestmentPairCorr
  0.96PYLMX Payden Limited MaturityPairCorr
  0.99PYLWX Payden Low DurationPairCorr
  0.96PYLSX Payden Limited MaturityPairCorr
  0.95PYLBX Payden Limited MaturityPairCorr
  1.0PYLDX Payden RygelPairCorr
  0.91PYSFX Payden Securitized IncomePairCorr
  0.95PYSGX Payden Strategic IncomePairCorr
  0.95PYSIX Payden Strategic IncomePairCorr
  0.91PYRLX Payden High IncomePairCorr
  0.95PYUSX Payden GovernmentPairCorr
  0.85PYVAX Payden Equity IncomePairCorr
  0.85PYVLX 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 Low 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 Low'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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