Payden Equity Correlations

PYVSX Fund

USD 16.68 0.11 0.66%

The current 90-days correlation between Payden Equity Income and Payden Equity Income is 1.0 (i.e., No risk reduction). The correlation of Payden Equity 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 Equity Correlation With Market

Modest diversification

The correlation between Payden Equity Income and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Payden Equity Income 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 Equity Income. 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 state.

Moving together with Payden Mutual Fund

0.73	PYACX	Payden Porate Bond	Pair Corr
0.69	PYCBX	Payden E Bond	Pair Corr
0.72	PYCWX	Payden E Bond	Pair Corr
0.71	PYCSX	Payden Core Bond	Pair Corr
0.74	PYCTX	Payden Rygel	Pair Corr
0.8	PYELX	Payden Emerging Markets	Pair Corr
0.69	PYGNX	Payden Gnma Fund	Pair Corr
0.8	PYILX	Payden Rygel Investment	Pair Corr
1.0	PYVAX	Payden Equity Income	Pair Corr
1.0	PYVLX	Payden Equity Income	Pair Corr
0.64	VVIAX	Vanguard Value Index	Pair Corr
0.69	DOXGX	Dodge Cox Stock	Pair Corr
0.72	AFMFX	American Mutual	Pair Corr

Moving against Payden Mutual Fund

0.71	PYAIX	Payden Absolute Return	Pair Corr
0.67	PYARX	Payden Absolute Return	Pair Corr
0.64	PYFIX	Payden Floating Rate	Pair Corr
0.61	PYLSX	Payden Limited Maturity	Pair Corr
0.59	PYFRX	Payden Floating Rate	Pair Corr
0.58	PYLMX	Payden Limited Maturity	Pair Corr
0.49	PYGSX	Payden Global Low	Pair Corr
0.71	PKCIX	Paydenkravitz Cash	Pair Corr
0.7	PKBIX	Paydenkravitz Cash	Pair Corr
0.69	PKCRX	Paydenkravitz Cash	Pair Corr
0.68	PKCBX	Payden/kravitz Cash	Pair Corr
0.47	PYSBX	Payden Low Duration	Pair Corr
0.46	PYLDX	Payden Rygel	Pair Corr

Related Correlations Analysis

	PYVLX	ASERX	ACSLX	SCSCX	SDLAX
PYVLX		0.52	0.62	0.4	0.9	PYVLX
ASERX	0.52		0.99	0.93	0.57	ASERX
ACSLX	0.62	0.99		0.9	0.68	ACSLX
SCSCX	0.4	0.93	0.9		0.43	SCSCX
SDLAX	0.9	0.57	0.68	0.43		SDLAX
	PYVLX	ASERX	ACSLX	SCSCX	SDLAX

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Risk-Adjusted Indicators

There is a big difference between Payden Mutual Fund performing well and Payden Equity 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 Equity'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
PYVLX	0.80	(0.23)	0.00	(0.38)	0.00	0.00	1.13	(1.11)	15.80
ASERX	0.91	(0.02)	(0.02)	(0.01)	1.43	(0.85)	1.64	(2.21)	6.34
ACSLX	0.92	(0.04)	0.00	(0.03)	0.00	0.00	1.63	(2.21)	7.15
SCSCX	0.56	(0.01)	(0.02)	0.01	0.85	(0.56)	1.06	(1.54)	4.69
SDLAX	1.10	(0.35)	0.00	(0.15)	0.00	0.00	1.14	(1.22)	28.96

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