Payden/kravitz Cash Correlations

PKCBX Fund

USD 10.28 0.01 0.1%

The current 90-days correlation between Payden/kravitz Cash and Payden Porate Bond is -0.31 (i.e., Very good diversification). The correlation of Payden/kravitz Cash 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/kravitz Cash Correlation With Market

Good diversification

The correlation between Paydenkravitz Cash Balance and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Paydenkravitz Cash Balance 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 Paydenkravitz Cash Balance. 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/kravitz Mutual Fund

0.99	PYAIX	Payden Absolute Return	Pair Corr
0.99	PYARX	Payden Absolute Return	Pair Corr
0.71	PYCEX	Payden Emerging Markets	Pair Corr
0.64	PYCHX	Payden Regal	Pair Corr
0.74	PYCIX	Payden Emerging Markets	Pair Corr
0.96	PYFIX	Payden Floating Rate	Pair Corr
0.96	PYFRX	Payden Floating Rate	Pair Corr
0.92	PYLMX	Payden Limited Maturity	Pair Corr
0.91	PYLSX	Payden Limited Maturity	Pair Corr
0.9	PYVAX	Payden Equity Income	Pair Corr
0.9	PYVLX	Payden Equity Income	Pair Corr
0.91	PYVSX	Payden Equity Income	Pair Corr
1.0	PKCIX	Payden/kravitz Cash	Pair Corr
0.99	PKCRX	Payden/kravitz Cash	Pair Corr

Moving against Payden/kravitz Mutual Fund

0.74	PYCWX	Payden E Bond	Pair Corr
0.74	PYCSX	Payden Core Bond	Pair Corr
0.72	PYCBX	Payden E Bond	Pair Corr
0.64	PYACX	Payden Porate Bond	Pair Corr
0.62	PYELX	Payden Emerging Markets	Pair Corr
0.38	PYGFX	Payden Global Fixed	Pair Corr
0.81	PYGNX	Payden Gnma Fund	Pair Corr
0.66	PYUSX	Payden Government	Pair Corr
0.6	PYILX	Payden Rygel Investment	Pair Corr
0.45	PONCX	Pimco Income	Pair Corr
0.37	PONAX	Pimco Income	Pair Corr
0.33	PYSIX	Payden Strategic Income	Pair Corr
0.32	PYSGX	Payden Strategic Income	Pair Corr
0.37	PONRX	Pimco Income	Pair Corr
0.34	PIMIX	Pimco Income	Pair Corr
0.32	PIPNX	Pimco Income	Pair Corr
0.32	PONPX	Pimco Incme Fund	Pair Corr

Related Correlations Analysis

	PYACX	PYAIX	PYARX	PYCEX	PYCHX	PYCBX	PYCIX	PYCSX	PYCRX	PYCTX
PYACX		-0.61	-0.61	0.02	0.11	0.99	0.01	0.99	0.82	1.0	PYACX
PYAIX	-0.61		0.99	0.72	0.68	-0.69	0.75	-0.71	-0.23	-0.6	PYAIX
PYARX	-0.61	0.99		0.7	0.68	-0.69	0.73	-0.71	-0.25	-0.6	PYARX
PYCEX	0.02	0.72	0.7		0.84	-0.07	0.99	-0.1	0.39	0.03	PYCEX
PYCHX	0.11	0.68	0.68	0.84		-0.01	0.88	-0.02	0.39	0.12	PYCHX
PYCBX	0.99	-0.69	-0.69	-0.07	-0.01		-0.09	1.0	0.77	0.99	PYCBX
PYCIX	0.01	0.75	0.73	0.99	0.88	-0.09		-0.12	0.38	0.02	PYCIX
PYCSX	0.99	-0.71	-0.71	-0.1	-0.02	1.0	-0.12		0.76	0.98	PYCSX
PYCRX	0.82	-0.23	-0.25	0.39	0.39	0.77	0.38	0.76		0.81	PYCRX
PYCTX	1.0	-0.6	-0.6	0.03	0.12	0.99	0.02	0.98	0.81		PYCTX
	PYACX	PYAIX	PYARX	PYCEX	PYCHX	PYCBX	PYCIX	PYCSX	PYCRX	PYCTX

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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

PYCTX	+ 1.0	PYACX
PYCSX	+ 1.0	PYCBX
PYCBX	+ 0.99	PYACX
PYCSX	+ 0.99	PYACX
PYARX	+ 0.99	PYAIX
PYCIX	+ 0.99	PYCEX

High negative correlations

PYCSX	- 0.71	PYARX
PYCSX	- 0.71	PYAIX
PYCBX	- 0.69	PYARX
PYCBX	- 0.69	PYAIX
PYARX	- 0.61	PYACX
PYAIX	- 0.61	PYACX

Risk-Adjusted Indicators

There is a big difference between Payden/kravitz Mutual Fund performing well and Payden/kravitz Cash 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/kravitz Cash'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
PYACX	0.23	(0.04)	0.00	(0.44)	0.00	0.00	0.41	(0.61)	1.33
PYAIX	0.06	0.01	(0.95)	(4.12)	0.00	(0.12)	0.11	(0.11)	0.32
PYARX	0.05	0.01	(0.92)	(14.06)	0.00	(0.12)	0.11	(0.11)	0.32
PYCEX	0.09	0.01	(0.75)	0.58	0.00	(0.17)	0.23	(0.11)	0.46
PYCHX	0.10	0.01	(0.60)	4.49	0.00	(0.18)	0.16	(0.16)	0.63
PYCBX	0.22	(0.04)	0.00	(0.70)	0.00	0.00	0.43	(0.54)	1.20
PYCIX	0.08	0.01	(0.87)	1.56	0.00	(0.14)	0.23	(0.11)	0.45
PYCSX	0.22	(0.05)	0.00	(0.61)	0.00	0.00	0.43	(0.54)	1.20
PYCRX	0.12	(0.01)	(0.43)	(1.07)	0.18	(0.19)	0.31	(0.30)	1.11
PYCTX	0.23	(0.04)	0.00	(0.45)	0.00	0.00	0.41	(0.60)	1.43

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