Payden Core Correlations

PYCSX Fund

USD 9.08 0.01 0.11%

The current 90-days correlation between Payden Core Bond and Delaware Emerging Markets is -0.05 (i.e., Good diversification). The correlation of Payden Core 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 Core Correlation With Market

Average diversification

The correlation between Payden Core Bond and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Core Bond 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 Core Bond. 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 state.

Moving together with Payden Mutual Fund

0.98	PYACX	Payden Porate Bond	Pair Corr
0.77	PYCEX	Payden Emerging Markets	Pair Corr
0.99	PYCBX	Payden E Bond	Pair Corr
0.76	PYCIX	Payden Emerging Markets	Pair Corr
0.99	PYCWX	Payden E Bond	Pair Corr
0.83	PYCRX	Payden California	Pair Corr
0.99	PYCTX	Payden Rygel	Pair Corr
0.69	PYEIX	Payden Emerging Markets	Pair Corr
0.64	PYELX	Payden Emerging Markets	Pair Corr
0.7	PYEMX	Payden Emerging Markets	Pair Corr
0.71	PYEWX	Payden Emerging Markets	Pair Corr
0.85	PYGFX	Payden Global Fixed	Pair Corr
0.98	PYGNX	Payden Gnma Fund	Pair Corr
0.86	PYGIX	Payden Global Fixed	Pair Corr
0.68	PYILX	Payden Rygel Investment	Pair Corr
0.83	PYSGX	Payden Strategic Income	Pair Corr
0.83	PYSIX	Payden Strategic Income	Pair Corr
0.71	PYVAX	Payden Equity Income	Pair Corr
0.71	PYVLX	Payden Equity Income	Pair Corr
0.71	PYVSX	Payden Equity Income	Pair Corr
0.95	MWTNX	Metropolitan West Total	Pair Corr
0.96	MWTSX	Metropolitan West Total	Pair Corr
0.98	PTTPX	Pimco Total Return	Pair Corr

Moving against Payden Mutual Fund

0.31	PKCIX	Paydenkravitz Cash	Pair Corr
0.31	PKBIX	Paydenkravitz Cash	Pair Corr

Related Correlations Analysis

	DEDCX	XEMDX	SYMAX	ANGCX	SEDIX	RYAHX
DEDCX		0.9	0.7	0.72	0.79	0.52	DEDCX
XEMDX	0.9		0.54	0.53	0.69	0.53	XEMDX
SYMAX	0.7	0.54		0.54	0.78	0.71	SYMAX
ANGCX	0.72	0.53	0.54		0.74	0.23	ANGCX
SEDIX	0.79	0.69	0.78	0.74		0.64	SEDIX
RYAHX	0.52	0.53	0.71	0.23	0.64		RYAHX
	DEDCX	XEMDX	SYMAX	ANGCX	SEDIX	RYAHX

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Risk-Adjusted Indicators

There is a big difference between Payden Mutual Fund performing well and Payden Core 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 Core'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
DEDCX	0.11	(0.02)	0.00	(0.44)	0.00	0.00	0.26	(0.26)	0.78
XEMDX	0.24	(0.03)	0.00	(0.91)	0.00	0.00	0.55	(0.65)	1.97
SYMAX	0.43	0.01	0.00	0.09	0.55	(0.43)	0.88	(1.04)	3.03
ANGCX	0.10	(0.02)	0.00	(1.06)	0.00	0.00	0.24	(0.24)	0.82
SEDIX	0.08	(0.01)	(0.17)	(0.19)	0.10	(0.13)	0.21	(0.21)	0.64
RYAHX	1.06	0.04	0.03	0.05	1.49	(1.09)	2.17	(1.76)	12.01

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