Payden Low Correlations

PYSBX Fund

USD 9.78 0.03 0.31%

The current 90-days correlation between Payden Low Duration and Blackrock Sm Cap is -0.16 (i.e., Good diversification). The correlation of Payden Low 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 Low Correlation With Market

Good diversification

The correlation between Payden Low Duration and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Low Duration 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 Low Duration. 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 bureau of labor statistics.

Moving together with Payden Mutual Fund

0.83	VBIRX	Vanguard Short Term	Pair Corr
0.76	VFSUX	Vanguard Short Term	Pair Corr
0.93	VFSIX	Vanguard Short Term	Pair Corr
0.93	VFSTX	Vanguard Short Term	Pair Corr
0.86	VBITX	Vanguard Short Term	Pair Corr
0.87	VBISX	Vanguard Short Term	Pair Corr
0.65	LALDX	Lord Abbett Short	Pair Corr
0.87	VSCSX	Vanguard Short Term	Pair Corr
0.63	LDLRX	Lord Abbett Short	Pair Corr

Moving against Payden Mutual Fund

0.54	FSRBX	Banking Portfolio Banking	Pair Corr
0.53	SMPSX	Semiconductor Ultrasector	Pair Corr
0.53	SMPIX	Semiconductor Ultrasector	Pair Corr
0.51	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.51	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.51	LSHCX	Horizon Spin Off Steady Growth	Pair Corr
0.51	LSHAX	Horizon Spin Off Steady Growth	Pair Corr
0.51	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.51	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
0.42	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.31	RSNYX	Victory Global Natural	Pair Corr
0.31	RSNRX	Victory Global Natural	Pair Corr
0.31	RGNCX	Victory Global Natural	Pair Corr
0.66	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.53	HPQ	HP Inc	Pair Corr
0.5	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.49	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.45	TEGYX	Mid Cap Growth	Pair Corr
0.42	WCEYX	Ivy E Equity	Pair Corr
0.4	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.36	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.35	HFCGX	Hennessy Nerstone Growth	Pair Corr
0.35	PRDSX	T Rowe Price	Pair Corr
0.32	WMT	Walmart Aggressive Push	Pair Corr

Related Correlations Analysis

	MDSKX	LIGFX	SIGWX	ACDOX	TRHBX	DTICX	MDBLX
MDSKX		0.84	0.99	-0.66	1.0	-0.26	-0.51	MDSKX
LIGFX	0.84		0.85	-0.32	0.84	0.17	-0.13	LIGFX
SIGWX	0.99	0.85		-0.61	0.99	-0.23	-0.46	SIGWX
ACDOX	-0.66	-0.32	-0.61		-0.66	0.66	0.97	ACDOX
TRHBX	1.0	0.84	0.99	-0.66		-0.26	-0.51	TRHBX
DTICX	-0.26	0.17	-0.23	0.66	-0.26		0.76	DTICX
MDBLX	-0.51	-0.13	-0.46	0.97	-0.51	0.76		MDBLX
	MDSKX	LIGFX	SIGWX	ACDOX	TRHBX	DTICX	MDBLX

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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

TRHBX	+ 1.0	MDSKX
SIGWX	+ 0.99	MDSKX
TRHBX	+ 0.99	SIGWX
MDBLX	+ 0.97	ACDOX
SIGWX	+ 0.85	LIGFX
LIGFX	+ 0.84	MDSKX

High negative correlations

TRHBX	- 0.66	ACDOX
ACDOX	- 0.66	MDSKX
ACDOX	- 0.61	SIGWX
MDBLX	- 0.51	TRHBX
MDBLX	- 0.51	MDSKX
MDBLX	- 0.46	SIGWX

Risk-Adjusted Indicators

There is a big difference between Payden Mutual Fund performing well and Payden Low 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 Low'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
MDSKX	0.94	(0.05)	0.01	0.09	0.94	(1.02)	2.08	(1.62)	7.61
LIGFX	0.25	(0.01)	(0.31)	0.08	0.21	(0.28)	0.55	(0.50)	1.23
SIGWX	0.75	(0.02)	0.00	0.10	0.83	(0.86)	1.53	(1.38)	7.02
ACDOX	0.23	(0.02)	0.00	0.40	0.00	0.00	0.44	(0.54)	1.39
TRHBX	0.93	(0.04)	0.02	0.09	0.93	(1.02)	2.09	(1.63)	7.62
DTICX	0.08	0.00	(0.75)	(0.21)	0.00	(0.15)	0.13	(0.13)	0.64
MDBLX	0.22	0.00	(0.39)	0.21	0.27	(0.26)	0.37	(0.60)	1.35

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