Payden Absolute (Ireland) Risk Analysis And Volatility Evaluation

F00000QGOD -- Ireland Fund  

USD 11.26  0.01  0.09%

We consider Payden Absolute unknown risk. Payden Absolute Return maintains Sharpe Ratio (i.e. Efficiency) of 0.4472 which implies Payden Absolute Return had 0.4472% of return per unit of risk over the last 1 month. Our philosophy towards forecasting volatility of a fund is to use all available market data together with company specific technical indicators that cannot be diversified away. We have found twenty-one technical indicators for Payden Absolute Return which you can use to evaluate future volatility of the fund. Please check Payden Absolute Return Coefficient Of Variation of 1192.28 and Risk Adjusted Performance of 0.0054 to confirm if risk estimate we provide are consistent with the epected return of 0.0178%.
 Time Horizon     30 Days    Login   to change

Payden Absolute Market Sensitivity

As returns on market increase, Payden Absolute returns are expected to increase less than the market. However during bear market, the loss on holding Payden Absolute will be expected to be smaller as well.
One Month Beta |Analyze Payden Absolute Return Demand Trend
Check current 30 days Payden Absolute correlation with market (DOW)
β = 0.0478
Payden Absolute Small BetaPayden Absolute Return Beta Legend

Payden Absolute Return Technical Analysis

Transformation
We are not able to run technical analysis function on this symbol. We either do not have that equity or its historical data is not available at this time. Please try again later.

Projected Return Density Against Market

Assuming 30 trading days horizon, Payden Absolute has beta of 0.0478 suggesting as returns on market go up, Payden Absolute average returns are expected to increase less than the benchmark. However during bear market, the loss on holding Payden Absolute Return Bond USD Acc will be expected to be much smaller as well. Additionally, Payden Absolute Return Bond USD Acc has a negative alpha implying that the risk taken by holding this equity is not justified. The company is significantly underperforming DOW
 Predicted Return Density 
      Returns 
Assuming 30 trading days horizon, the coefficient of variation of Payden Absolute is 223.61. The daily returns are destributed with a variance of 0.0 and standard deviation of 0.04. The mean deviation of Payden Absolute Return Bond USD Acc is currently at 0.03. For similar time horizon, the selected benchmark (DOW) has volatility of 0.46
α
Alpha over DOW
=0.0065
β
Beta against DOW=0.0478
σ
Overall volatility
=0.0398
Ir
Information ratio =1.07

Actual Return Volatility

Payden Absolute Return Bond USD Acc accepts 0.0398% volatility on return distribution over the 30 days horizon. DOW inherits 0.5115% risk (volatility on return distribution) over the 30 days horizon.
 Performance (%) 
      Timeline 

Market Risk Breakdown

Payden Absolute Volatility Factors

30 Days Market Risk

Unknown risk

Chance of Distress in 24 months

Unknown Distress

30 Days Economic Sensitivity

Unaffected

Investment Outlook

Payden Absolute Investment Opportunity
DOW has a standard deviation of returns of 0.51 and is 12.75 times more volatile than Payden Absolute Return Bond USD Acc. 0% of all equities and portfolios are less risky than Payden Absolute. Compared to the overall equity markets, volatility of historical daily returns of Payden Absolute Return Bond USD Acc is lower than 0 (%) of all global equities and portfolios over the last 30 days. Use Payden Absolute Return Bond USD Acc to enhance returns of your portfolios. The fund experiences normal upward fluctuation. Check odds of Payden Absolute to be traded at $11.82 in 30 days. As returns on market increase, Payden Absolute returns are expected to increase less than the market. However during bear market, the loss on holding Payden Absolute will be expected to be smaller as well.

Payden Absolute correlation with market

Average diversification
Overlapping area represents the amount of risk that can be diversified away by holding Payden Absolute Return Bond US and equity matching DJI index in the same portfolio.
Additionally see Investing Opportunities. Please also try Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
vendors/bower_components/jquery.easy-pie-chart/dist/jquery.easypiechart.min.js">