Payden Floating Correlations

PYFRX Fund

USD 9.82 0.01 0.10%

The current 90-days correlation between Payden Floating Rate and Shelton Emerging Markets is -0.07 (i.e., Good 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

Good diversification

The correlation between Payden Floating Rate and DJI is -0.05 (i.e., Good 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 metropolitan statistical area.

Moving together with Payden Mutual Fund

0.95	PYAIX	Payden Absolute Return	Pair Corr
0.96	PYARX	Payden Absolute Return	Pair Corr
1.0	PYFIX	Payden Floating Rate	Pair Corr
0.91	PYLMX	Payden Limited Maturity	Pair Corr
0.89	PYLSX	Payden Limited Maturity	Pair Corr
0.86	PYVAX	Payden Equity Income	Pair Corr
0.86	PYVLX	Payden Equity Income	Pair Corr
0.88	PYVSX	Payden Equity Income	Pair Corr
0.96	PKCIX	Payden/kravitz Cash	Pair Corr
0.96	PKCBX	Payden/kravitz Cash	Pair Corr
0.86	OOSYX	Oppenheimer Senior	Pair Corr
0.87	OOSIX	Oppenheimer Senior	Pair Corr
0.96	LFRIX	Floating Rate	Pair Corr
0.96	LARCX	Floating Rate	Pair Corr
0.96	LFRRX	Lord Abbett Inv	Pair Corr

Moving against Payden Mutual Fund

0.88	PYGNX	Payden Gnma Fund	Pair Corr
0.83	PYCWX	Payden E Bond	Pair Corr
0.83	PYCSX	Payden Core Bond	Pair Corr
0.82	PYCBX	Payden E Bond	Pair Corr
0.77	PYELX	Payden Emerging Markets	Pair Corr
0.76	PYILX	Payden Rygel Investment	Pair Corr
0.75	PYACX	Payden Porate Bond	Pair Corr
0.74	PYCTX	Payden Rygel	Pair Corr
0.5	PYGFX	Payden Global Fixed	Pair Corr
0.47	PYSGX	Payden Strategic Income	Pair Corr
0.46	PYGIX	Payden Global Fixed	Pair Corr
0.41	PYCRX	Payden California	Pair Corr
0.75	PYUSX	Payden Government	Pair Corr
0.47	PYSIX	Payden Strategic Income	Pair Corr

Related Correlations Analysis

	EMSLX	DBELX	PWEAX	QMNIX	USMIX	LAIXX	BXECX	REMVX
EMSLX		0.24	0.93	-0.31	0.23	0.16	0.71	0.92	EMSLX
DBELX	0.24		0.16	-0.67	-0.53	-0.07	0.62	0.4	DBELX
PWEAX	0.93	0.16		-0.16	0.32	0.29	0.7	0.95	PWEAX
QMNIX	-0.31	-0.67	-0.16		0.73	0.37	-0.28	-0.37	QMNIX
USMIX	0.23	-0.53	0.32	0.73		0.24	0.07	0.1	USMIX
LAIXX	0.16	-0.07	0.29	0.37	0.24		0.36	0.19	LAIXX
BXECX	0.71	0.62	0.7	-0.28	0.07	0.36		0.77	BXECX
REMVX	0.92	0.4	0.95	-0.37	0.1	0.19	0.77		REMVX
	EMSLX	DBELX	PWEAX	QMNIX	USMIX	LAIXX	BXECX	REMVX

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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

REMVX	+ 0.95	PWEAX
PWEAX	+ 0.93	EMSLX
REMVX	+ 0.92	EMSLX
REMVX	+ 0.77	BXECX
USMIX	+ 0.73	QMNIX
BXECX	+ 0.71	EMSLX

High negative correlations

QMNIX	- 0.67	DBELX
USMIX	- 0.53	DBELX
REMVX	- 0.37	QMNIX
QMNIX	- 0.31	EMSLX
BXECX	- 0.28	QMNIX
QMNIX	- 0.16	PWEAX

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
EMSLX	0.73	(0.03)	0.00	10.78	0.00	0.00	1.76	(1.08)	6.36
DBELX	0.33	(0.06)	0.00	(0.79)	0.00	0.00	0.68	(0.67)	1.97
PWEAX	0.74	(0.01)	(0.09)	0.08	1.05	(0.73)	1.64	(1.76)	6.28
QMNIX	0.26	0.09	(0.08)	(1.60)	0.09	(0.31)	0.70	(0.40)	1.91
USMIX	0.79	0.02	0.05	0.13	0.74	(0.92)	1.80	(1.40)	5.72
LAIXX	0.03	0.01	0.00	(0.12)	0.00	0.00	0.00	0.00	1.01
BXECX	0.26	0.00	(0.37)	0.09	0.27	(0.38)	0.67	(0.52)	1.45
REMVX	0.88	(0.07)	0.00	(0.04)	0.00	0.00	1.78	(2.04)	6.85

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