Pax Balanced Correlations

Mutual Funds . USA . 
Fund . Pax Balanced Fund
PAXWX Fund  USD 26.79  0.02  0.07%   
The current 90-days correlation between Pax Balanced and Pax Esg Beta is 0.96 (i.e., Almost no diversification). The correlation of Pax Balanced 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 Balanced Correlation With Market

Almost no diversification

The correlation between Pax Balanced Fund and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pax Balanced Fund 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 Balanced Fund. 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 housing.

Moving together with Pax Mutual Fund

  0.65PXBIX Pax E BondPairCorr
  0.98PXEAX Pax Global EnvironmentalPairCorr
  0.96PXDIX Pax Esg BetaPairCorr
  0.98PXGOX Pax Global OpportunitiesPairCorr
  0.98PXHAX Pax High YieldPairCorr
  0.98PXGAX Pax Esg BetaPairCorr
  0.95PXINX Pax Msci EafePairCorr
  1.0PXLIX Pax Large CapPairCorr
  0.95PXNIX Pax Msci EafePairCorr
  0.95PXSAX Pax Small CapPairCorr
  0.96PXSIX Pax Small CapPairCorr
  0.96PXSCX Pax Small CapPairCorr
  1.0PXWGX Pax Esg BetaPairCorr
  0.98PXWIX Pax Ellevate GlobalPairCorr
  0.99PXWEX Pax Ellevate GlobalPairCorr
  0.99PGINX Pax Global EnvironmentalPairCorr
  0.99PGRNX Pax Global EnvironmentalPairCorr
  0.98PAXHX Pax High YieldPairCorr
  1.0PAXIX Pax BalancedPairCorr
  1.0PWGIX Pax Esg BetaPairCorr
  0.99FBONX American Funds AmericanPairCorr
  0.99FBAFX American Funds AmericanPairCorr
  0.98ABALX American BalancedPairCorr
  0.98BALCX American BalancedPairCorr
  0.99BALFX American BalancedPairCorr
  0.99RLBCX American BalancedPairCorr
  0.99RLBBX American BalancedPairCorr
  0.99CLBAX American BalancedPairCorr
  0.99CLBEX American BalancedPairCorr
  0.99RLBFX American BalancedPairCorr
  0.98ASG Liberty All StarPairCorr
  0.93IIF Morgan Stanley IndiaPairCorr
  0.99CII Blackrock EnhancedPairCorr
  0.78IFN India ClosedPairCorr
  0.98ETV Eaton Vance TaxPairCorr
  0.95CLM Cornerstone StrategicPairCorr
  0.95CRF Cornerstone StrategicPairCorr
  0.96USA Liberty All StarPairCorr
  0.99ETY Eaton Vance TaxPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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