Payden Floating Correlations

PYFIX Fund

USD 9.60 0.01 0.10%

The current 90-days correlation between Payden Floating Rate and Pimco Diversified Income is 0.22 (i.e., Modest 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

Poor diversification

The correlation between Payden Floating Rate and DJI is 0.79 (i.e., Poor 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

0.99	PYBLX	Payden Floating Rate	Pair Corr
0.75	PYABX	Payden Absolute Return	Pair Corr
0.76	PYAIX	Payden Absolute Return	Pair Corr
0.76	PYARX	Payden Absolute Return	Pair Corr
0.79	PYCEX	Payden Emerging Markets	Pair Corr
0.86	PYCHX	Payden Regal	Pair Corr
0.75	PYCIX	Payden Emerging Markets	Pair Corr
0.99	PYFRX	Payden Floating Rate	Pair Corr
0.73	PYEIX	Payden Emerging Markets	Pair Corr
0.64	PYELX	Payden Emerging Markets	Pair Corr
0.74	PYEMX	Payden Emerging Markets	Pair Corr
0.74	PYEWX	Payden Emerging Markets	Pair Corr
0.86	PYHRX	Payden High Income	Pair Corr
0.74	PYGSX	Payden Global Low	Pair Corr
0.65	PYILX	Payden Rygel Investment	Pair Corr
0.73	PYLMX	Payden Limited Maturity	Pair Corr
0.66	PYLWX	Payden Low Duration	Pair Corr
0.75	PYLSX	Payden Limited Maturity	Pair Corr
0.73	PYLBX	Payden Limited Maturity	Pair Corr
0.69	PYLDX	Payden Rygel	Pair Corr
0.75	PYSFX	Payden Securitized Income	Pair Corr
0.77	PYSGX	Payden Strategic Income	Pair Corr
0.69	PYSBX	Payden Low Duration	Pair Corr
0.76	PYSIX	Payden Strategic Income	Pair Corr
0.74	PYSLX	Payden Strategic Income	Pair Corr
0.85	PYRLX	Payden High Income	Pair Corr
0.68	PYUSX	Payden Government	Pair Corr
0.63	PYVAX	Payden Equity Income	Pair Corr
0.64	PYVLX	Payden Equity Income	Pair Corr

Moving against Payden Mutual Fund

0.84	TCTGX	Transamerica Cleartrack	Pair Corr
0.84	TDKTX	Cleartrack 2015 Class	Pair Corr
0.45	USPSX	Profunds Ultrashort	Pair Corr

Related Correlations Analysis

	JDJRX	DTICX	MDBFX	HUDEX	ODIDX	SCAAX	PDNIX
JDJRX		0.41	0.66	0.38	0.46	0.25	0.65	JDJRX
DTICX	0.41		0.88	0.84	0.85	0.78	0.92	DTICX
MDBFX	0.66	0.88		0.78	0.8	0.64	0.96	MDBFX
HUDEX	0.38	0.84	0.78		0.93	0.91	0.86	HUDEX
ODIDX	0.46	0.85	0.8	0.93		0.92	0.9	ODIDX
SCAAX	0.25	0.78	0.64	0.91	0.92		0.75	SCAAX
PDNIX	0.65	0.92	0.96	0.86	0.9	0.75		PDNIX
	JDJRX	DTICX	MDBFX	HUDEX	ODIDX	SCAAX	PDNIX

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
JDJRX	0.41	0.01	(0.07)	0.08	0.44	(0.49)	0.94	(0.81)	2.24
DTICX	0.06	0.00	(0.42)	(0.17)	0.00	(0.15)	0.13	(0.13)	0.38
MDBFX	0.13	0.02	(0.22)	0.52	0.00	(0.19)	0.24	(0.24)	0.60
HUDEX	0.58	0.02	0.02	0.09	0.65	(0.63)	1.35	(1.24)	3.95
ODIDX	0.06	0.01	(0.39)	0.35	0.00	(0.12)	0.11	(0.11)	0.33
SCAAX	0.40	0.07	0.11	0.19	0.00	(0.50)	0.76	(0.67)	7.57
PDNIX	0.12	0.02	(0.20)	0.46	0.00	(0.16)	0.30	(0.20)	0.80

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