Pax Global Correlations

Mutual Funds . USA . 
Fund . Pax Global Environmental
PXEAX Fund  USD 25.08  0.03  0.12%   
The current 90-days correlation between Pax Global Environmental and Pax E Bond is -0.02 (i.e., Good 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

Good diversification

The correlation between Pax Global Environmental and DJI is -0.13 (i.e., Good 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

  0.95PXDIX Pax Esg BetaPairCorr
  1.0PXGOX Pax Global OpportunitiesPairCorr
  0.97PXHAX Pax High YieldPairCorr
  0.99PXGAX Pax Esg BetaPairCorr
  0.95PXINX Pax Msci EafePairCorr
  0.98PXLIX Pax Large CapPairCorr
  0.95PXNIX Pax Msci EafePairCorr
  0.97PXSAX Pax Small CapPairCorr
  0.94PXSIX Pax Small CapPairCorr
  0.94PXSCX Pax Small CapPairCorr
  0.98PXWGX Pax Esg BetaPairCorr
  0.98PXWIX Pax Ellevate GlobalPairCorr
  0.98PXWEX Pax Ellevate GlobalPairCorr
  1.0PGINX Pax Global EnvironmentalPairCorr
  0.98PGRNX Pax Global EnvironmentalPairCorr
  0.97PAXHX Pax High YieldPairCorr
  0.97PAXIX Pax BalancedPairCorr
  0.97PAXWX Pax BalancedPairCorr
  0.99PWGIX Pax Esg BetaPairCorr
  0.98FCWGX American Funds CapitalPairCorr
  0.98FWCGX American Funds CapitalPairCorr
  0.99CWGIX Capital World GrowthPairCorr
  0.98CWGFX Capital World GrowthPairCorr
  0.98CWGCX Capital World GrowthPairCorr
  0.98RWIFX Capital World GrowthPairCorr
  0.98CWICX Capital World GrowthPairCorr
  0.98RWIAX Capital World GrowthPairCorr
  0.99CWIAX Capital World GrowthPairCorr
  0.99WGIFX Capital World GrowthPairCorr
  0.98DXQLX Direxion Monthly NasdaqPairCorr
  0.99RYVLX Nasdaq 100 2xPairCorr
  0.99RYVYX Nasdaq 100 2xPairCorr
  0.98UOPIX Ultra Nasdaq 100PairCorr
  0.98RYCCX Nasdaq 100 2xPairCorr
  0.98UOPSX Ultranasdaq 100 ProfundPairCorr
  0.98INPIX Internet UltrasectorPairCorr
  0.99INPSX Internet UltrasectorPairCorr
  0.68BIPIX Biotechnology UltrasectorPairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
PXBIX  0.26  0.00 (0.31) 0.15  0.29 
(0.29)
 0.47 
(0.57)
 1.28 
PXEAX  0.67  0.25  0.11 (1.91) 0.60 
(0.76)
 1.87 
(1.47)
 4.19 
PXDIX  0.50  0.08 (0.02) 0.40  0.34 
(0.57)
 1.12 
(0.87)
 2.59 
PXGOX  0.60  0.21  0.08 (1.85) 0.45 
(0.66)
 2.10 
(1.15)
 3.78 
PXHAX  0.16  0.07 (0.27)(1.22) 0.00 
(0.26)
 0.50 
(0.17)
 1.01 
PXGAX  0.67  0.24  0.10 (1.84) 0.60 
(0.79)
 2.05 
(1.40)
 4.78 
PXINX  0.56  0.10  0.02  0.42  0.59 
(0.63)
 1.43 
(1.33)
 3.23 
PXLIX  0.65  0.14  0.14  0.30  0.49 
(0.77)
 2.09 
(1.15)
 4.71 
PXNIX  0.58  0.10  0.02  0.41  0.60 
(0.63)
 1.39 
(1.36)
 3.41 
PXSAX  0.87  0.25  0.09 (1.21) 0.80 
(0.99)
 1.62 
(1.74)
 6.34 

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