Payden Corporate Bond Fund Market Value
| PYAYX Fund | 9.93 0.01 0.10% |
| Symbol | Payden |
Payden Corporate 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Payden Corporate's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Payden Corporate.
| 10/31/2024 |
| 11/30/2024 |
If you would invest 0.00 in Payden Corporate on October 31, 2024 and sell it all today you would earn a total of 0.00 from holding Payden Corporate Bond or generate 0.0% return on investment in Payden Corporate over 30 days.
Payden Corporate Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Payden Corporate's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Payden Corporate Bond upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.44) | |||
| Maximum Drawdown | 1.41 | |||
| Value At Risk | (0.60) | |||
| Potential Upside | 0.6036 |
Payden Corporate Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Payden Corporate's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Payden Corporate's standard deviation. In reality, there are many statistical measures that can use Payden Corporate historical prices to predict the future Payden Corporate's volatility.| Risk Adjusted Performance | (0.02) | |||
| Jensen Alpha | (0.02) | |||
| Total Risk Alpha | (0.07) | |||
| Treynor Ratio | (0.17) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Payden Corporate's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Payden Corporate Bond Backtested Returns
Payden Corporate Bond maintains Sharpe Ratio (i.e., Efficiency) of -0.0084, which implies the entity had a -0.0084% return per unit of risk over the last 3 months. Payden Corporate Bond exposes twenty-two different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Payden Corporate's Risk Adjusted Performance of (0.02), variance of 0.1021, and Coefficient Of Variation of (7,855) to confirm the risk estimate we provide. The fund holds a Beta of 0.0826, which implies not very significant fluctuations relative to the market. As returns on the market increase, Payden Corporate's returns are expected to increase less than the market. However, during the bear market, the loss of holding Payden Corporate is expected to be smaller as well.
Auto-correlation | 0.52 |
Modest predictability
Payden Corporate Bond has modest predictability. Overlapping area represents the amount of predictability between Payden Corporate time series from 31st of October 2024 to 15th of November 2024 and 15th of November 2024 to 30th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Payden Corporate Bond price movement. The serial correlation of 0.52 indicates that about 52.0% of current Payden Corporate price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.52 | |
| Spearman Rank Test | 0.1 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Payden Corporate Bond lagged returns against current returns
Autocorrelation, which is Payden Corporate mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Payden Corporate's mutual fund expected returns. We can calculate the autocorrelation of Payden Corporate returns to help us make a trade decision. For example, suppose you find that Payden Corporate has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Payden Corporate regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Payden Corporate mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Payden Corporate mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Payden Corporate mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Payden Corporate Lagged Returns
When evaluating Payden Corporate's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Payden Corporate mutual fund have on its future price. Payden Corporate autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Payden Corporate autocorrelation shows the relationship between Payden Corporate mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Payden Corporate Bond.
Regressed Prices |
| Timeline |
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