Payden Emerging Correlations

PYEIX Fund

USD 10.51 0.03 0.28%

The current 90-days correlation between Payden Emerging Markets and 1919 Financial Services is 0.01 (i.e., Significant diversification). The correlation of Payden Emerging 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 Emerging Correlation With Market

Average diversification

The correlation between Payden Emerging Markets 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 Emerging Markets 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 Emerging Markets. 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

0.63	PYACX	Payden Porate Bond	Pair Corr
0.96	PYCEX	Payden Emerging Markets	Pair Corr
0.96	PYCIX	Payden Emerging Markets	Pair Corr
0.65	PYCWX	Payden E Bond	Pair Corr
0.68	PYCSX	Payden Core Bond	Pair Corr
0.76	PYCRX	Payden California	Pair Corr
0.61	PYCTX	Payden Rygel	Pair Corr
1.0	PYEMX	Payden Emerging Markets	Pair Corr
0.7	PYEWX	Payden Emerging Markets	Pair Corr
0.67	PYGFX	Payden Global Fixed	Pair Corr
0.65	PYGNX	Payden Gnma Fund	Pair Corr
0.86	PYGIX	Payden Global Fixed	Pair Corr
0.62	PYGSX	Payden Global Low	Pair Corr
0.93	PYSGX	Payden Strategic Income	Pair Corr
0.93	PYSIX	Payden Strategic Income	Pair Corr

Moving against Payden Mutual Fund

0.46	NTG	Tortoise Mlp Closed	Pair Corr
0.39	TTP	Tortoise Pipeline And	Pair Corr

Related Correlations Analysis

	SBFAX	BTO	FIDAX	XFINX	GCFSX	RMBLX
SBFAX		0.71	0.87	0.12	0.56	0.84	SBFAX
BTO	0.71		0.8	0.51	0.88	0.87	BTO
FIDAX	0.87	0.8		0.26	0.65	0.95	FIDAX
XFINX	0.12	0.51	0.26		0.46	0.35	XFINX
GCFSX	0.56	0.88	0.65	0.46		0.7	GCFSX
RMBLX	0.84	0.87	0.95	0.35	0.7		RMBLX
	SBFAX	BTO	FIDAX	XFINX	GCFSX	RMBLX

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Risk-Adjusted Indicators

There is a big difference between Payden Mutual Fund performing well and Payden Emerging 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 Emerging'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
SBFAX	0.90	(0.05)	0.00	(0.03)	0.00	0.00	1.65	(1.85)	15.92
BTO	1.09	0.16	0.09	0.29	1.23	(1.13)	2.32	(1.91)	13.54
FIDAX	0.93	0.01	(0.01)	0.09	1.63	(0.93)	1.79	(2.01)	14.53
XFINX	0.14	(0.01)	(0.21)	(0.01)	0.22	(0.16)	0.29	(0.35)	1.14
GCFSX	0.62	0.07	0.04	0.21	0.73	(0.72)	1.50	(1.23)	6.27
RMBLX	1.20	0.09	0.05	0.21	1.31	(1.42)	2.20	(2.07)	15.68

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