Payden California Muncipal Fund Market Value
| PYCRX Fund | USD 9.92 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.
| 09/24/2024 |
| 11/23/2024 |
If you would invest 0.00 in Payden California on September 24, 2024 and sell it all today you would earn a total of 0.00 from holding Payden California Muncipal or generate 0.0% return on investment in Payden California over 60 days. Payden California is related to or competes with Payden Corporate, Payden Absolute, Payden Absolute, Payden Emerging, Payden Regal, Payden Core, and Payden Emerging. Under normal market circumstances, the fund invests at least 80 percent of its net assets in California Municipal Securities, which are defined as debt obligations issued by the State of California, local governments and other authorities in California, and their agencies and instrumentalities, or by other issuers, all of which pay interest income exempt from Federal and California personal income tax. More
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 Muncipal upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.2973 | |||
| Information Ratio | (0.64) | |||
| Maximum Drawdown | 1.11 | |||
| Value At Risk | (0.30) | |||
| Potential Upside | 0.3052 |
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 | (0.02) | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | (0.43) | |||
| Treynor Ratio | (1.07) |
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 0.0164, which implies the entity had a 0.0164% return per unit of risk over the last 3 months. We have found twenty-eight 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 6151.9, risk adjusted performance of (0.02), and Semi Deviation of 0.1756 to confirm if the risk estimate we provide is consistent with the expected return of 0.0033%. The fund holds a Beta of 0.0063, which implies not very significant fluctuations relative to the market. As returns on the market increase, Payden California's returns are expected to increase less than the market. However, during the bear market, the loss of holding Payden California is expected to be smaller as well.
Auto-correlation | -0.48 |
Modest reverse predictability
Payden California Muncipal has modest reverse predictability. Overlapping area represents the amount of predictability between Payden California time series from 24th of September 2024 to 24th of October 2024 and 24th of October 2024 to 23rd 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 California price movement. The serial correlation of -0.48 indicates that about 48.0% of current Payden California price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.48 | |
| Spearman Rank Test | -0.66 | |
| 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 Muncipal.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Payden Mutual Fund
Payden California financial ratios help investors to determine whether Payden Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Payden with respect to the benefits of owning Payden California security.
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