Payden California Municipal Fund Market Value
| PYCLX Fund | 9.99 0.01 0.10% |
| Symbol | Payden |
Payden California '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 California'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 California.
| 11/01/2024 |
| 12/01/2024 |
If you would invest 0.00 in Payden California on November 1, 2024 and sell it all today you would earn a total of 0.00 from holding Payden California Municipal or generate 0.0% return on investment in Payden California over 30 days.
Payden California 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 California'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 California Municipal upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.3078 | |||
| Information Ratio | (0.60) | |||
| Maximum Drawdown | 1.12 | |||
| Value At Risk | (0.40) | |||
| Potential Upside | 0.3055 |
Payden California Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Payden California's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Payden California's standard deviation. In reality, there are many statistical measures that can use Payden California historical prices to predict the future Payden California's volatility.| Risk Adjusted Performance | 0.0246 | |||
| Jensen Alpha | 0.0099 | |||
| Total Risk Alpha | (0.03) | |||
| Sortino Ratio | (0.40) | |||
| Treynor Ratio | (0.08) |
Payden California Backtested Returns
At this stage we consider Payden Mutual Fund to be very steady. Payden California maintains Sharpe Ratio (i.e., Efficiency) of 0.0547, which implies the entity had a 0.0547% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Payden California, which you can use to evaluate the volatility of the fund. Please check Payden California's Coefficient Of Variation of 1472.99, risk adjusted performance of 0.0246, and Semi Deviation of 0.1507 to confirm if the risk estimate we provide is consistent with the expected return of 0.0112%. The fund holds a Beta of -0.0471, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Payden California are expected to decrease at a much lower rate. During the bear market, Payden California is likely to outperform the market.
Auto-correlation | 0.51 |
Modest predictability
Payden California Municipal has modest predictability. Overlapping area represents the amount of predictability between Payden California time series from 1st of November 2024 to 16th of November 2024 and 16th of November 2024 to 1st of December 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 California price movement. The serial correlation of 0.51 indicates that about 51.0% of current Payden California price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.51 | |
| Spearman Rank Test | 0.7 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Payden California lagged returns against current returns
Autocorrelation, which is Payden California 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 California's mutual fund expected returns. We can calculate the autocorrelation of Payden California returns to help us make a trade decision. For example, suppose you find that Payden California 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 California 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 California mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Payden California 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 California mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Payden California Lagged Returns
When evaluating Payden California's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Payden California mutual fund have on its future price. Payden California 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 California autocorrelation shows the relationship between Payden California mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Payden California Municipal.
Regressed Prices |
| Timeline |
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