Pax Global Environmental Fund Market Value
| PXEAX Fund | USD 24.91 0.03 0.12% |
| Symbol | Pax |
Pax Global 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Pax Global's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Pax Global.
| 11/04/2024 |
| 12/04/2024 |
If you would invest 0.00 in Pax Global on November 4, 2024 and sell it all today you would earn a total of 0.00 from holding Pax Global Environmental or generate 0.0% return on investment in Pax Global over 30 days. Pax Global is related to or competes with T Rowe, Msif Emerging, Delaware Small, Fidelity Otc, and Pax Small. Under normal market conditions, the fund invests at least 80 percent of its net assets in companies whose businesses and technologies focus on environmental markets, including alternative energy and energy management efficiency transportation solutions water infrastructure technologies environmental services resources resource efficiency waste management digital infrastructure and sustainable food agriculture. More
Pax Global Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Pax Global's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Pax Global Environmental upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | (0.13) | |||
| Maximum Drawdown | 4.15 | |||
| Value At Risk | (1.57) | |||
| Potential Upside | 1.2 |
Pax Global Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pax Global's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pax Global's standard deviation. In reality, there are many statistical measures that can use Pax Global historical prices to predict the future Pax Global's volatility.| Risk Adjusted Performance | 5.0E-4 | |||
| Jensen Alpha | (0.1) | |||
| Total Risk Alpha | (0.13) | |||
| Treynor Ratio | (0.01) |
Pax Global Environmental Backtested Returns
At this stage we consider Pax Mutual Fund to be very steady. Pax Global Environmental maintains Sharpe Ratio (i.e., Efficiency) of 0.0669, which implies the entity had a 0.0669% return per unit of risk over the last 3 months. We have found twenty-two technical indicators for Pax Global Environmental, which you can use to evaluate the volatility of the fund. Please check Pax Global's Variance of 0.7846, coefficient of variation of (89,434), and Risk Adjusted Performance of 5.0E-4 to confirm if the risk estimate we provide is consistent with the expected return of 0.0557%. The fund holds a Beta of 0.82, which implies possible diversification benefits within a given portfolio. As returns on the market increase, Pax Global's returns are expected to increase less than the market. However, during the bear market, the loss of holding Pax Global is expected to be smaller as well.
Auto-correlation | -0.39 |
Poor reverse predictability
Pax Global Environmental has poor reverse predictability. Overlapping area represents the amount of predictability between Pax Global time series from 4th of November 2024 to 19th of November 2024 and 19th of November 2024 to 4th of December 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Pax Global Environmental price movement. The serial correlation of -0.39 indicates that just about 39.0% of current Pax Global price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.39 | |
| Spearman Rank Test | -0.53 | |
| Residual Average | 0.0 | |
| Price Variance | 0.08 |
Pax Global Environmental lagged returns against current returns
Autocorrelation, which is Pax Global mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Pax Global's mutual fund expected returns. We can calculate the autocorrelation of Pax Global returns to help us make a trade decision. For example, suppose you find that Pax Global has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Pax Global regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Pax Global mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pax Global mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Pax Global mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Pax Global Lagged Returns
When evaluating Pax Global's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pax Global mutual fund have on its future price. Pax Global autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Pax Global autocorrelation shows the relationship between Pax Global mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Pax Global Environmental.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Pax Mutual Fund
Pax Global financial ratios help investors to determine whether Pax Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Pax with respect to the benefits of owning Pax Global security.
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