Payson Total Correlations

PBFDX Fund

USD 37.62 0.27 0.71%

The current 90-days correlation between Payson Total Return and Cambiar Opportunity Fund is 0.27 (i.e., Modest diversification). The correlation of Payson Total 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.

Payson Total Correlation With Market

Poor diversification

The correlation between Payson Total Return and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payson Total Return 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 Payson Total Return. 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 small area income & poverty estimates.

Moving together with Payson Mutual Fund

0.9	VTSAX	Vanguard Total Stock	Pair Corr
0.93	VFIAX	Vanguard 500 Index	Pair Corr
0.91	VTSMX	Vanguard Total Stock	Pair Corr
0.9	VITSX	Vanguard Total Stock	Pair Corr
0.9	VSMPX	Vanguard Total Stock	Pair Corr
0.9	VSTSX	Vanguard Total Stock	Pair Corr
0.92	VFINX	Vanguard 500 Index	Pair Corr
0.93	VFFSX	Vanguard 500 Index	Pair Corr
0.93	VINIX	Vanguard Institutional	Pair Corr
0.93	VIIIX	Vanguard Institutional	Pair Corr
0.7	VTSNX	Vanguard Total Inter	Pair Corr
0.72	VTISX	Vanguard Total Inter	Pair Corr
0.7	VTPSX	Vanguard Total Inter	Pair Corr
0.64	SGYAX	Siit High Yield	Pair Corr
0.62	AOD	Aberdeen Total Dynamic	Pair Corr
0.72	PONAX	Pimco Income	Pair Corr
0.63	SRUAX	Spectrum Fund Adviser	Pair Corr
0.73	CII	Blackrock Enhanced	Pair Corr
0.67	RYCCX	Nasdaq 100 2x	Pair Corr
0.71	RRTRX	T Rowe Price	Pair Corr
0.67	RITHX	American High Income	Pair Corr
0.68	CDHAX	Calvert Developed Market	Pair Corr
0.64	SBAYX	Western Asset Adjustable	Pair Corr

Related Correlations Analysis

	CAMOX	HFCVX	AUUCX	MITEX	MSSMX	MSSGX	FWRLX	EXBAX	LEAOX	DISMX
CAMOX		0.71	0.82	-0.29	-0.47	-0.48	-0.46	0.93	0.58	0.62	CAMOX
HFCVX	0.71		0.88	-0.57	-0.64	-0.65	-0.22	0.78	0.41	0.49	HFCVX
AUUCX	0.82	0.88		-0.35	-0.51	-0.52	-0.28	0.88	0.6	0.63	AUUCX
MITEX	-0.29	-0.57	-0.35		0.89	0.89	0.52	-0.32	0.23	0.3	MITEX
MSSMX	-0.47	-0.64	-0.51	0.89		1.0	0.63	-0.49	-0.06	0.17	MSSMX
MSSGX	-0.48	-0.65	-0.52	0.89	1.0		0.63	-0.5	-0.06	0.17	MSSGX
FWRLX	-0.46	-0.22	-0.28	0.52	0.63	0.63		-0.39	0.06	0.13	FWRLX
EXBAX	0.93	0.78	0.88	-0.32	-0.49	-0.5	-0.39		0.59	0.67	EXBAX
LEAOX	0.58	0.41	0.6	0.23	-0.06	-0.06	0.06	0.59		0.56	LEAOX
DISMX	0.62	0.49	0.63	0.3	0.17	0.17	0.13	0.67	0.56		DISMX
	CAMOX	HFCVX	AUUCX	MITEX	MSSMX	MSSGX	FWRLX	EXBAX	LEAOX	DISMX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

MSSGX	+ 1.0	MSSMX
EXBAX	+ 0.93	CAMOX
MSSMX	+ 0.89	MITEX
MSSGX	+ 0.89	MITEX
AUUCX	+ 0.88	HFCVX
EXBAX	+ 0.88	AUUCX

High negative correlations

MSSGX	- 0.65	HFCVX
MSSMX	- 0.64	HFCVX
MITEX	- 0.57	HFCVX
MSSGX	- 0.52	AUUCX
MSSMX	- 0.51	AUUCX
EXBAX	- 0.5	MSSGX

Risk-Adjusted Indicators

There is a big difference between Payson Mutual Fund performing well and Payson Total 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 Payson Total'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CAMOX	1.07	0.40	0.53	0.46	0.00	(1.45)	1.54	(0.93)	28.12
HFCVX	0.57	0.07	0.06	0.17	0.60	(0.61)	1.21	(0.95)	7.46
AUUCX	0.61	0.09	0.11	0.14	0.57	(0.66)	1.22	(1.00)	9.13
MITEX	0.89	(0.09)	0.00	(0.04)	0.00	0.00	1.72	(2.10)	6.23
MSSMX	1.66	(0.32)	0.00	(0.11)	0.00	0.00	2.85	(3.94)	9.51
MSSGX	1.62	(0.31)	0.00	(0.12)	0.00	0.00	2.89	(3.80)	9.56
FWRLX	0.75	(0.13)	0.00	(0.10)	0.00	0.00	1.07	(1.52)	6.84
EXBAX	0.33	0.07	0.09	0.27	0.06	(0.42)	0.66	(0.51)	4.11
LEAOX	0.64	0.05	0.04	0.13	0.67	(0.75)	1.63	(1.00)	3.52
DISMX	0.58	(0.02)	(0.04)	0.03	0.75	(0.58)	1.05	(1.17)	2.61

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