Payden Floating Correlations

PYFIX Fund

USD 9.83 0.01 0.10%

The current 90-days correlation between Payden Floating Rate and Small Cap Stock is 0.3 (i.e., Weak diversification). The correlation of Payden Floating 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 Floating Correlation With Market

Average diversification

The correlation between Payden Floating Rate and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Floating Rate 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 Floating Rate. 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

0.96	PYAIX	Payden Absolute Return	Pair Corr
0.88	PYARX	Payden Absolute Return	Pair Corr
0.69	PYCHX	Payden Regal	Pair Corr
0.91	PYFRX	Payden Floating Rate	Pair Corr
0.76	PYHRX	Payden High Income	Pair Corr
0.88	PYGSX	Payden Global Low	Pair Corr
0.84	PYLMX	Payden Limited Maturity	Pair Corr
0.92	PYLSX	Payden Limited Maturity	Pair Corr
0.83	PYLDX	Payden Rygel	Pair Corr
0.83	PYSBX	Payden Low Duration	Pair Corr
0.97	PKCIX	Paydenkravitz Cash	Pair Corr
0.97	PKBIX	Paydenkravitz Cash	Pair Corr
0.97	PKCBX	Payden/kravitz Cash	Pair Corr
0.84	OOSYX	Oppenheimer Senior	Pair Corr
0.91	OOSIX	Oppenheimer Senior	Pair Corr
0.86	LFRIX	Floating Rate	Pair Corr
0.87	LARCX	Floating Rate	Pair Corr
0.86	LFRRX	Lord Abbett Inv	Pair Corr

Moving against Payden Mutual Fund

0.81	PYELX	Payden Emerging Markets	Pair Corr
0.77	PYILX	Payden Rygel Investment	Pair Corr
0.69	BRUFX	Bruce Fund Bruce	Pair Corr
0.64	PYVAX	Payden Equity Income	Pair Corr
0.64	PYVLX	Payden Equity Income	Pair Corr
0.64	PYVSX	Payden Equity Income	Pair Corr
0.6	KF	Korea Closed	Pair Corr
0.52	SPGSX	State Street Premier	Pair Corr

Related Correlations Analysis

	USCAX	VFFIX	TIMXX	DLTZX	LEQCX	RHSIX
USCAX		-0.17	0.0	-0.13	0.34	0.79	USCAX
VFFIX	-0.17		0.0	0.87	0.56	0.1	VFFIX
TIMXX	0.0	0.0		0.0	0.0	0.0	TIMXX
DLTZX	-0.13	0.87	0.0		0.67	0.03	DLTZX
LEQCX	0.34	0.56	0.0	0.67		0.43	LEQCX
RHSIX	0.79	0.1	0.0	0.03	0.43		RHSIX
	USCAX	VFFIX	TIMXX	DLTZX	LEQCX	RHSIX

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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

DLTZX	+ 0.87	VFFIX
RHSIX	+ 0.79	USCAX
LEQCX	+ 0.67	DLTZX
LEQCX	+ 0.56	VFFIX
RHSIX	+ 0.43	LEQCX
LEQCX	+ 0.34	USCAX

High negative correlations

VFFIX	- 0.17	USCAX
DLTZX	- 0.13	USCAX
RHSIX	- 0.0	TIMXX
LEQCX	- 0.0	TIMXX
DLTZX	- 0.0	TIMXX
TIMXX	- 0.0	VFFIX

Risk-Adjusted Indicators

There is a big difference between Payden Mutual Fund performing well and Payden Floating 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 Floating'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
USCAX	0.96	(0.09)	0.00	(0.13)	0.00	0.00	1.74	(1.81)	10.83
VFFIX	0.06	(0.01)	(0.16)	(0.51)	0.02	(0.15)	0.15	(0.15)	0.30
TIMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DLTZX	0.08	0.00	(0.11)	0.05	0.00	(0.20)	0.26	(0.13)	0.64
LEQCX	0.41	0.05	0.06	0.33	0.43	(0.44)	0.87	(0.71)	2.97
RHSIX	1.05	(0.06)	0.00	(0.09)	0.00	0.00	2.23	(2.58)	9.65

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