Pax Global Correlations

PXEAX Fund  USD 25.18  0.14  0.56%   
The current 90-days correlation between Pax Global Environmental and Transamerica Bond Class is 0.15 (i.e., Average diversification). The correlation of Pax Global 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 Global Correlation With Market

Poor diversification

The correlation between Pax Global Environmental and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pax Global Environmental 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 Global Environmental. 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 nation.

Moving together with Pax Mutual Fund

  0.61DQIYX Dreyfus Equity IncomePairCorr
  0.64PSHAX Short Term FundPairCorr
  0.61FISVX Fidelity Small CapPairCorr
  0.65CAT CaterpillarPairCorr
  0.62CVX Chevron CorpPairCorr

Moving against Pax Mutual Fund

  0.58MCD McDonaldsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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