Payden Gnma Fund Market Value
| PYGNX Fund | USD 7.55 0.01 0.13% |
| Symbol | Payden |
Payden Gnma '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 Gnma'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 Gnma.
| 11/29/2023 |
| 11/23/2024 |
If you would invest 0.00 in Payden Gnma on November 29, 2023 and sell it all today you would earn a total of 0.00 from holding Payden Gnma Fund or generate 0.0% return on investment in Payden Gnma over 360 days. Payden Gnma is related to or competes with Payden Corporate, Payden Absolute, Payden Absolute, Payden Emerging, Payden Regal, Payden Core, and Payden Emerging. The fund invests at least 80 percent of its total assets in Government National Mortgage Association mortgage-backed sec... More
Payden Gnma 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 Gnma'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 Gnma Fund upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.53) | |||
| Maximum Drawdown | 1.32 | |||
| Value At Risk | (0.53) | |||
| Potential Upside | 0.3896 |
Payden Gnma Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Payden Gnma's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Payden Gnma's standard deviation. In reality, there are many statistical measures that can use Payden Gnma historical prices to predict the future Payden Gnma's volatility.| Risk Adjusted Performance | (0.08) | |||
| Jensen Alpha | (0.03) | |||
| Total Risk Alpha | (0.08) | |||
| Treynor Ratio | 0.7555 |
Payden Gnma Fund Backtested Returns
Payden Gnma Fund maintains Sharpe Ratio (i.e., Efficiency) of -0.11, which implies the entity had a -0.11% return per unit of risk over the last 3 months. Payden Gnma Fund exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Payden Gnma's Coefficient Of Variation of (1,164), risk adjusted performance of (0.08), and Variance of 0.0877 to confirm the risk estimate we provide. The fund holds a Beta of -0.0469, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Payden Gnma are expected to decrease at a much lower rate. During the bear market, Payden Gnma is likely to outperform the market.
Auto-correlation | -0.1 |
Very weak reverse predictability
Payden Gnma Fund has very weak reverse predictability. Overlapping area represents the amount of predictability between Payden Gnma time series from 29th of November 2023 to 27th of May 2024 and 27th of May 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 Gnma Fund price movement. The serial correlation of -0.1 indicates that less than 10.0% of current Payden Gnma price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.1 | |
| Spearman Rank Test | -0.02 | |
| Residual Average | 0.0 | |
| Price Variance | 0.02 |
Payden Gnma Fund lagged returns against current returns
Autocorrelation, which is Payden Gnma 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 Gnma's mutual fund expected returns. We can calculate the autocorrelation of Payden Gnma returns to help us make a trade decision. For example, suppose you find that Payden Gnma 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 Gnma 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 Gnma mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Payden Gnma 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 Gnma mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Payden Gnma Lagged Returns
When evaluating Payden Gnma's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Payden Gnma mutual fund have on its future price. Payden Gnma 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 Gnma autocorrelation shows the relationship between Payden Gnma mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Payden Gnma Fund.
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 Gnma 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 Gnma security.
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