Pax High Yield Fund Market Value

PXHAX Fund  USD 6.13  0.01  0.16%   
Pax High's market value is the price at which a share of Pax High trades on a public exchange. It measures the collective expectations of Pax High Yield investors about its performance. Pax High is trading at 6.13 as of the 12th of December 2024; that is 0.16% up since the beginning of the trading day. The fund's open price was 6.12.
With this module, you can estimate the performance of a buy and hold strategy of Pax High Yield and determine expected loss or profit from investing in Pax High over a given investment horizon. Check out Pax High Correlation, Pax High Volatility and Pax High Alpha and Beta module to complement your research on Pax High.
Symbol

Please note, there is a significant difference between Pax High's value and its price as these two are different measures arrived at by different means. Investors typically determine if Pax High is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Pax High's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.

Pax High '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 High'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 High.
0.00
11/12/2024
No Change 0.00  0.0 
In 30 days
12/12/2024
0.00
If you would invest  0.00  in Pax High on November 12, 2024 and sell it all today you would earn a total of 0.00 from holding Pax High Yield or generate 0.0% return on investment in Pax High over 30 days. Pax High is related to or competes with L Abbett, Small Cap, T Rowe, Versatile Bond, T Rowe, T Rowe, and Ab Value. Under normal market conditions, the fund invests at least 80 percent of its assets in high-yield, fixed income securities that are rated below BBB-by Standard Poors Ratings Group or below Baa3 by Moodys Investors Service, similarly rated by another major rating service, or unrated and determined by the funds investment adviser to be of comparable quality. More

Pax High 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 High'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 High Yield upside and downside potential and time the market with a certain degree of confidence.

Pax High Market Risk Indicators

Today, many novice investors tend to focus exclusively on investment returns with little concern for Pax High's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pax High's standard deviation. In reality, there are many statistical measures that can use Pax High historical prices to predict the future Pax High's volatility.
Hype
Prediction
LowEstimatedHigh
5.996.136.27
Details
Intrinsic
Valuation
LowRealHigh
5.495.636.74
Details
Naive
Forecast
LowNextHigh
6.006.156.29
Details
Bollinger
Band Projection (param)
LowerMiddle BandUpper
6.086.116.14
Details
Please note, it is not enough to conduct a financial or market analysis of a single entity such as Pax High. Your research has to be compared to or analyzed against Pax High's peers to derive any actionable benefits. When done correctly, Pax High's competitive analysis will give you plenty of quantitative and qualitative data to validate your investment decisions or develop an entirely new strategy toward taking a position in Pax High Yield.

Pax High Yield Backtested Returns

At this stage we consider Pax Mutual Fund to be very steady. Pax High Yield maintains Sharpe Ratio (i.e., Efficiency) of 0.11, which implies the entity had a 0.11% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Pax High Yield, which you can use to evaluate the volatility of the fund. Please check Pax High's Risk Adjusted Performance of 0.0482, standard deviation of 0.1417, and Downside Deviation of 0.1878 to confirm if the risk estimate we provide is consistent with the expected return of 0.0157%. The fund holds a Beta of 0.0266, which implies not very significant fluctuations relative to the market. As returns on the market increase, Pax High's returns are expected to increase less than the market. However, during the bear market, the loss of holding Pax High is expected to be smaller as well.

Auto-correlation

    
  0.11  

Insignificant predictability

Pax High Yield has insignificant predictability. Overlapping area represents the amount of predictability between Pax High time series from 12th of November 2024 to 27th of November 2024 and 27th of November 2024 to 12th 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 High Yield price movement. The serial correlation of 0.11 indicates that less than 11.0% of current Pax High price fluctuation can be explain by its past prices.
Correlation Coefficient0.11
Spearman Rank Test0.54
Residual Average0.0
Price Variance0.0

Pax High Yield lagged returns against current returns

Autocorrelation, which is Pax High 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 High's mutual fund expected returns. We can calculate the autocorrelation of Pax High returns to help us make a trade decision. For example, suppose you find that Pax High 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 High 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 High mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pax High 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 High mutual fund over time.
   Current vs Lagged Prices   
       Timeline  

Pax High Lagged Returns

When evaluating Pax High's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pax High mutual fund have on its future price. Pax High 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 High autocorrelation shows the relationship between Pax High mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Pax High Yield.
   Regressed Prices   
       Timeline  

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Other Information on Investing in Pax Mutual Fund

Pax High 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 High security.
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