Payden Rygel Correlations

PYLDX Fund

USD 9.81 0.02 0.20%

The current 90-days correlation between Payden Rygel and Simt Real Estate is -0.09 (i.e., Good diversification). The correlation of Payden Rygel 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 Rygel Correlation With Market

Average diversification

The correlation between The Payden Rygel and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Payden Rygel 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 The Payden Rygel. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Payden Mutual Fund

0.97	VBIRX	Vanguard Short Term	Pair Corr
0.96	VFSUX	Vanguard Short Term	Pair Corr
0.96	VFSIX	Vanguard Short Term	Pair Corr
0.96	VFSTX	Vanguard Short Term	Pair Corr
0.98	VBITX	Vanguard Short Term	Pair Corr
0.97	VBISX	Vanguard Short Term	Pair Corr
0.91	LALDX	Lord Abbett Short	Pair Corr
0.94	VSCSX	Vanguard Short Term	Pair Corr
0.88	LDLAX	Lord Abbett Short	Pair Corr
0.84	LDLRX	Lord Abbett Short	Pair Corr
0.68	TRV	The Travelers Companies	Pair Corr
0.63	VZ	Verizon Communications	Pair Corr
0.65	T	ATT Inc Earnings Call This Week	Pair Corr

Moving against Payden Mutual Fund

0.83	SMPIX	Semiconductor Ultrasector	Pair Corr
0.83	SMPSX	Semiconductor Ultrasector	Pair Corr
0.78	CISGX	Touchstone Sands Capital	Pair Corr
0.47	KMKYX	Kinetics Market Oppo	Pair Corr
0.44	WWNPX	Kinetics Paradigm	Pair Corr
0.43	KNPYX	Kinetics Paradigm	Pair Corr
0.41	LSHEX	Kinetics Spin Off	Pair Corr
0.41	LSHUX	Horizon Spin Off	Pair Corr
0.72	BAC	Bank of America	Pair Corr
0.62	AXP	American Express	Pair Corr
0.61	JPM	JPMorgan Chase	Pair Corr
0.52	DD	Dupont De Nemours	Pair Corr
0.52	CAT	Caterpillar	Pair Corr
0.5	WMT	Walmart	Pair Corr
0.49	MMM	3M Company	Pair Corr
0.39	PFE	Pfizer Inc	Pair Corr
0.33	BA	Boeing	Pair Corr

Related Correlations Analysis

	SEIRX	MRESX	CLARX	RRRZX	REINX	VREQX	REPIX	RRSCX
SEIRX		1.0	1.0	0.99	1.0	1.0	1.0	0.93	SEIRX
MRESX	1.0		1.0	1.0	1.0	1.0	1.0	0.95	MRESX
CLARX	1.0	1.0		1.0	1.0	1.0	1.0	0.93	CLARX
RRRZX	0.99	1.0	1.0		1.0	1.0	1.0	0.95	RRRZX
REINX	1.0	1.0	1.0	1.0		1.0	1.0	0.94	REINX
VREQX	1.0	1.0	1.0	1.0	1.0		1.0	0.93	VREQX
REPIX	1.0	1.0	1.0	1.0	1.0	1.0		0.94	REPIX
RRSCX	0.93	0.95	0.93	0.95	0.94	0.93	0.94		RRSCX
	SEIRX	MRESX	CLARX	RRRZX	REINX	VREQX	REPIX	RRSCX

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Risk-Adjusted Indicators

There is a big difference between Payden Mutual Fund performing well and Payden Rygel 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 Rygel'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
SEIRX	1.02	0.01	0.08	0.33	1.58	(0.98)	1.90	(2.45)	8.05
MRESX	1.01	0.03	0.08	0.80	1.50	(1.02)	1.70	(2.48)	8.09
CLARX	1.02	0.02	0.08	0.36	1.50	(1.04)	1.75	(2.68)	7.66
RRRZX	1.00	0.03	0.08	0.43	1.54	(0.97)	1.89	(2.66)	7.86
REINX	1.01	0.03	0.08	0.52	1.49	(1.02)	1.76	(2.52)	7.65
VREQX	1.00	0.02	0.08	0.46	1.48	(1.03)	1.76	(2.72)	7.73
REPIX	1.53	0.04	0.06	1.01	2.43	(1.41)	2.94	(3.68)	11.85
RRSCX	0.84	0.05	0.10	0.47	1.27	(0.82)	1.63	(2.07)	6.32

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