Payden Emerging Markets Fund Market Value
| PYCEX Fund | USD 8.81 0.00 0.00% |
| Symbol | Payden |
Payden Emerging '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 Emerging'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 Emerging.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in Payden Emerging on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding Payden Emerging Markets or generate 0.0% return on investment in Payden Emerging over 30 days. Payden Emerging is related to or competes with Energy Basic, Oil Gas, Fidelity Advisor, Gmo Resources, Hennessy, Salient Mlp, and World Energy. Under normal market conditions, the fund invests at least 80 percent of its total assets in corporate bonds issued by co... More
Payden Emerging 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 Emerging'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 Emerging Markets upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.1814 | |||
| Information Ratio | (0.71) | |||
| Maximum Drawdown | 0.7951 | |||
| Value At Risk | (0.23) | |||
| Potential Upside | 0.2288 |
Payden Emerging Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Payden Emerging's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Payden Emerging's standard deviation. In reality, there are many statistical measures that can use Payden Emerging historical prices to predict the future Payden Emerging's volatility.| Risk Adjusted Performance | 0.0313 | |||
| Jensen Alpha | 0.003 | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | (0.55) | |||
| Treynor Ratio | 0.4214 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Payden Emerging'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 Emerging Markets Backtested Returns
At this stage we consider Payden Mutual Fund to be very steady. Payden Emerging Markets maintains Sharpe Ratio (i.e., Efficiency) of 0.0893, which implies the entity had a 0.0893% return per unit of risk over the last 3 months. We have found twenty-four technical indicators for Payden Emerging Markets, which you can use to evaluate the volatility of the fund. Please check Payden Emerging's Risk Adjusted Performance of 0.0313, downside deviation of 0.1814, and Standard Deviation of 0.1402 to confirm if the risk estimate we provide is consistent with the expected return of 0.0128%. The fund holds a Beta of 0.0093, which implies not very significant fluctuations relative to the market. As returns on the market increase, Payden Emerging's returns are expected to increase less than the market. However, during the bear market, the loss of holding Payden Emerging is expected to be smaller as well.
Auto-correlation | 0.34 |
Below average predictability
Payden Emerging Markets has below average predictability. Overlapping area represents the amount of predictability between Payden Emerging time series from 4th of November 2024 to 19th of November 2024 and 19th of November 2024 to 4th 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 Emerging Markets price movement. The serial correlation of 0.34 indicates that nearly 34.0% of current Payden Emerging price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.34 | |
| Spearman Rank Test | 0.5 | |
| Residual Average | 0.0 | |
| Price Variance | 0.0 |
Payden Emerging Markets lagged returns against current returns
Autocorrelation, which is Payden Emerging 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 Emerging's mutual fund expected returns. We can calculate the autocorrelation of Payden Emerging returns to help us make a trade decision. For example, suppose you find that Payden Emerging 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 Emerging 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 Emerging mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Payden Emerging 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 Emerging mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Payden Emerging Lagged Returns
When evaluating Payden Emerging's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Payden Emerging mutual fund have on its future price. Payden Emerging 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 Emerging autocorrelation shows the relationship between Payden Emerging mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Payden Emerging Markets.
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 Emerging 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 Emerging security.
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