Payden Global Correlations

PYGFX Fund

USD 7.61 0.01 0.13%

The current 90-days correlation between Payden Global Fixed and Catalystsmh High Income is 0.63 (i.e., Poor diversification). The correlation of Payden Global 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 Global Correlation With Market

Average diversification

The correlation between Payden Global Fixed and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Global Fixed 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 Global Fixed. 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 census.

Moving together with Payden Mutual Fund

0.87	PYACX	Payden Porate Bond	Pair Corr
0.92	PYCEX	Payden Emerging Markets	Pair Corr
0.68	PYCHX	Payden Regal	Pair Corr
0.85	PYCBX	Payden E Bond	Pair Corr
0.93	PYCIX	Payden Emerging Markets	Pair Corr
0.82	PYCWX	Payden E Bond	Pair Corr
0.85	PYCSX	Payden Core Bond	Pair Corr
0.91	PYCRX	Payden California	Pair Corr
0.87	PYCTX	Payden Rygel	Pair Corr
0.88	PYEIX	Payden Emerging Markets	Pair Corr
0.87	PYEMX	Payden Emerging Markets	Pair Corr
0.89	PYEWX	Payden Emerging Markets	Pair Corr
0.64	PYHRX	Payden High Income	Pair Corr
0.86	PYGNX	Payden Gnma Fund	Pair Corr
1.0	PYGIX	Payden Global Fixed	Pair Corr
0.94	PYSGX	Payden Strategic Income	Pair Corr
0.95	PYSIX	Payden Strategic Income	Pair Corr
0.64	PYUSX	Payden Government	Pair Corr
0.96	VTIBX	Vanguard Total Inter	Pair Corr
0.96	VTILX	Vanguard Total Inter	Pair Corr
0.96	VTIFX	Vanguard Total Inter	Pair Corr

Related Correlations Analysis

	HIICX	AQRRX	AGDZX	TAHFX	GHVIX	FHYTX	NMHYX
HIICX		0.72	0.54	0.76	0.73	0.69	0.78	HIICX
AQRRX	0.72		0.77	0.79	0.9	0.84	0.82	AQRRX
AGDZX	0.54	0.77		0.75	0.91	0.91	0.72	AGDZX
TAHFX	0.76	0.79	0.75		0.78	0.82	0.95	TAHFX
GHVIX	0.73	0.9	0.91	0.78		0.95	0.76	GHVIX
FHYTX	0.69	0.84	0.91	0.82	0.95		0.76	FHYTX
NMHYX	0.78	0.82	0.72	0.95	0.76	0.76		NMHYX
	HIICX	AQRRX	AGDZX	TAHFX	GHVIX	FHYTX	NMHYX

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Risk-Adjusted Indicators

There is a big difference between Payden Mutual Fund performing well and Payden Global 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 Global'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
HIICX	0.21	0.02	0.00	0.17	0.15	(0.33)	0.53	(0.27)	1.35
AQRRX	0.44	0.02	0.00	0.11	0.52	(0.51)	0.93	(0.86)	3.04
AGDZX	0.13	0.01	(0.02)	0.34	0.00	(0.24)	0.43	(0.28)	1.14
TAHFX	0.14	0.02	(0.01)	0.39	0.00	(0.23)	0.37	(0.24)	1.22
GHVIX	0.16	0.01	(0.04)	0.18	0.15	(0.17)	0.24	(0.36)	0.96
FHYTX	0.17	0.01	(0.04)	0.18	0.12	(0.26)	0.47	(0.32)	1.26
NMHYX	0.10	0.01	(0.04)	0.16	0.00	(0.15)	0.24	(0.24)	0.72

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Payden Global Correlations

Payden Global Correlation With Market

Average diversification

Moving together with Payden Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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