Payden Floating Correlations

Mutual Funds . USA . 
Fund . Payden Floating Rate
PYFIX Fund  USD 9.67  0.05  0.51%   
The current 90-days correlation between Payden Floating Rate and Payden Corporate Bond is 0.1 (i.e., Average diversification). The correlation of Payden Floating 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 Floating Correlation With Market

Modest diversification

The correlation between Payden Floating Rate and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Floating Rate 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 Floating Rate. 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

  0.89PYAYX Payden Corporate BondPairCorr
  1.0PYBLX Payden Floating RatePairCorr
  0.9PYABX Payden Absolute ReturnPairCorr
  0.89PYACX Payden Porate BondPairCorr
  0.92PYAIX Payden Absolute ReturnPairCorr
  0.93PYARX Payden Absolute ReturnPairCorr
  0.94PYCEX Payden Emerging MarketsPairCorr
  0.97PYCHX Payden RegalPairCorr
  0.89PYCBX Payden E BondPairCorr
  0.94PYCIX Payden Emerging MarketsPairCorr
  0.9PYCWX Payden E BondPairCorr
  0.9PYCSX Payden Core BondPairCorr
  0.9PYCTX Payden RygelPairCorr
  1.0PYFRX Payden Floating RatePairCorr
  0.94PYEIX Payden Emerging MarketsPairCorr
  0.91PYELX Payden Emerging MarketsPairCorr
  0.94PYEMX Payden Emerging MarketsPairCorr
  0.94PYEWX Payden Emerging MarketsPairCorr
  0.97PYHRX Payden High IncomePairCorr
  0.86PYGFX Payden Global FixedPairCorr
  0.85PYGNX Payden Gnma FundPairCorr
  0.86PYGIX Payden Global FixedPairCorr
  0.9PYGSX Payden Global LowPairCorr
  0.91PYILX Payden Rygel InvestmentPairCorr
  0.91PYLMX Payden Limited MaturityPairCorr
  0.85PYLWX Payden Low DurationPairCorr
  0.91PYLSX Payden Limited MaturityPairCorr
  0.91PYLBX Payden Limited MaturityPairCorr
  0.86PYLDX Payden RygelPairCorr
  0.96PYSFX Payden Securitized IncomePairCorr
  0.94PYSGX Payden Strategic IncomePairCorr
  0.87PYSBX Payden Low DurationPairCorr
  0.94PYSIX Payden Strategic IncomePairCorr
  0.93PYSLX Payden Strategic IncomePairCorr
  0.97PYRLX Payden High IncomePairCorr
  0.85PYUSX Payden GovernmentPairCorr
  0.93PYVAX Payden Equity IncomePairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Payden Mutual Fund performing well and Payden Floating 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 Floating'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  0.21  0.03 (0.28) 0.48  0.00 
(0.28)
 0.50 
(0.31)
 1.14 
PYBLX  0.07  0.02  0.00  0.65  0.00 
 0.00 
 0.11 
(0.10)
 0.83 
PYABX  0.10  0.02 (0.54)(1.98) 0.00 
(0.14)
 0.21 
(0.11)
 0.84 
PYACX  0.21  0.03 (0.27) 0.52  0.00 
(0.27)
 0.51 
(0.31)
 1.14 
PYAIX  0.09  0.01 (0.42) 0.73  0.00 
(0.14)
 0.21 
(0.21)
 0.84 
PYARX  0.09  0.01 (0.50) 0.58  0.00 
(0.14)
 0.21 
(0.21)
 0.84 
PYCEX  0.09  0.03 (0.37) 0.67  0.00 
(0.14)
 0.23 
(0.12)
 0.79 
PYCHX  0.10  0.04 (0.35) 0.47  0.00 
(0.16)
 0.24 
(0.16)
 0.86 
PYCBX  0.21  0.03 (0.27) 0.66  0.00 
(0.29)
 0.44 
(0.33)
 1.19 
PYCIX  0.11  0.03 (0.38) 0.77  0.00 
(0.16)
 0.23 
(0.12)
 0.79 

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