Payden Corporate Correlations
| PYAYX Fund | 9.78 0.02 0.20% |
The current 90-days correlation between Payden Corporate Bond and L Abbett Growth is 0.04 (i.e., Significant diversification). The correlation of Payden Corporate 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 Corporate Correlation With Market
Average diversification
The correlation between Payden Corporate Bond and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Corporate Bond and DJI in the same portfolio, assuming nothing else is changed.
Payden |
Moving together with Payden Mutual Fund
| 0.71 | VGTSX | Vanguard Total Inter | PairCorr |
| 0.7 | VTIAX | Vanguard Total Inter | PairCorr |
| 0.8 | MFOCX | Marsico Focus | PairCorr |
| 0.82 | FTVZX | Fuller Thaler Behavioral | PairCorr |
| 0.74 | FLRJX | Franklin Lifesmart 2045 | PairCorr |
| 0.7 | GOODX | Goodhaven Fund Goodhaven | PairCorr |
| 0.8 | WMICX | Wasatch Micro Cap | PairCorr |
| 0.8 | WAMCX | Wasatch Ultra Growth | PairCorr |
| 0.84 | SFMRX | American Beacon Stephens | PairCorr |
| 0.73 | DOXBX | Dodge Cox Balanced | PairCorr |
| 0.75 | VTRCX | Voya Target Retirement | PairCorr |
| 0.85 | SAMAX | Moderately Aggressive | PairCorr |
| 0.81 | STENX | Northern Lights | PairCorr |
| 0.77 | VBCVX | Broad Cap Value | PairCorr |
| 0.76 | WAGSX | Wasatch Global Select | PairCorr |
| 0.85 | AAEFX | American Century One | PairCorr |
Moving against Payden Mutual Fund
Related Correlations Analysis
| 0.33 | 0.9 | 0.35 | 0.23 | 0.8 | LGLSX | ||
| 0.33 | 0.33 | 0.8 | 0.87 | 0.73 | MSTGX | ||
| 0.9 | 0.33 | 0.28 | 0.25 | 0.67 | MSEQX | ||
| 0.35 | 0.8 | 0.28 | 0.85 | 0.75 | LMUSX | ||
| 0.23 | 0.87 | 0.25 | 0.85 | 0.68 | XAWFX | ||
| 0.8 | 0.73 | 0.67 | 0.75 | 0.68 | TFAGX | ||
| 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 Corporate 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 Corporate'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| LGLSX | 1.22 | 0.21 | 0.09 | 0.42 | 1.57 | 2.65 | 8.91 | |||
| MSTGX | 0.26 | 0.01 | (0.10) | 0.11 | 0.31 | 0.55 | 1.83 | |||
| MSEQX | 1.47 | 0.45 | 0.23 | 1.21 | 1.37 | 3.23 | 12.69 | |||
| LMUSX | 0.77 | 0.02 | (0.01) | 0.09 | 1.22 | 1.27 | 6.30 | |||
| XAWFX | 0.12 | (0.01) | (0.24) | (0.12) | 0.18 | 0.18 | 0.88 | |||
| TFAGX | 0.78 | 0.06 | 0.02 | 0.19 | 1.03 | 1.61 | 5.84 |
Payden Corporate Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Payden Corporate mutual fund to make a market-neutral strategy. Peer analysis of Payden Corporate could also be used in its relative valuation, which is a method of valuing Payden Corporate by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |