Pax E Correlations

Mutual Funds USA . 
Fund . Pax E Bond
PAXBX Fund  USD 8.79  0.01  0.11%   
The current 90-days correlation between Pax E Bond and Pax High Yield is -0.03 (i.e., Good diversification). The correlation of Pax E 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.

Pax E Correlation With Market

Modest diversification

The correlation between Pax E Bond and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pax E Bond 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 Pax E Bond. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Pax Mutual Fund

  0.67PXHIX Pax High YieldPairCorr
  0.62PAXLX Pax Large CapPairCorr
  0.88VBTLX Vanguard Total BondPairCorr
  1.0VBMFX Vanguard Total BondPairCorr
  1.0VBTIX Vanguard Total BondPairCorr
  1.0VTBSX Vanguard Total BondPairCorr
  0.9VTBIX Vanguard Total BondPairCorr
  1.0VTBNX Vanguard Total BondPairCorr
  0.99FBOFX American FundsPairCorr
  0.99FFBOX American FundsPairCorr
  1.0BFAFX Bond FundPairCorr
  0.9ABNDX Bond FundPairCorr
  0.62CIDVX Calamos Dividend GrowthPairCorr
  0.64RDWFX American Funds DevelopingPairCorr
  0.66ABWIX Ab All MarketPairCorr
  0.83TIBUX Tiaa Cref InternationalPairCorr
  0.61FAGCX Fidelity Advisor GrowthPairCorr
  0.75DHEYX Diamond Hill ShortPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Pax Mutual Fund performing well and Pax E 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 Pax E'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.

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