Pax Esg Beta Fund Market Value
| PXGAX Fund | USD 23.34 0.06 0.26% |
| Symbol | Pax |
Pax Esg '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 Esg'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 Esg.
| 03/20/2024 |
| 04/19/2024 |
If you would invest 0.00 in Pax Esg on March 20, 2024 and sell it all today you would earn a total of 0.00 from holding Pax Esg Beta or generate 0.0% return on investment in Pax Esg over 30 days. Pax Esg is related to or competes with Pax E, Pax Global, Pax Esg, Pax Global, Pax High, Pax Msci, and Pax Msci. The Adviser follows a sustainable investing approach, investing in companies that the Adviser believes are well position... More
Pax Esg 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 Esg'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 Esg Beta upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7635 | |||
| Information Ratio | (0) | |||
| Maximum Drawdown | 3.54 | |||
| Value At Risk | (1.39) | |||
| Potential Upside | 1.1 |
Pax Esg Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pax Esg's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pax Esg's standard deviation. In reality, there are many statistical measures that can use Pax Esg historical prices to predict the future Pax Esg's volatility.| Risk Adjusted Performance | 0.055 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.02) | |||
| Sortino Ratio | (0) | |||
| Treynor Ratio | 0.0497 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Pax Esg's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Pax Esg Beta Backtested Returns
We consider Pax Esg very steady. Pax Esg Beta maintains Sharpe Ratio (i.e., Efficiency) of 0.0452, which implies the entity had a 0.0452% return per unit of risk over the last 3 months. We have found twenty-seven technical indicators for Pax Esg Beta, which you can use to evaluate the volatility of the fund. Please check Pax Esg's Semi Deviation of 0.6791, risk adjusted performance of 0.055, and Coefficient Of Variation of 1161.7 to confirm if the risk estimate we provide is consistent with the expected return of 0.0336%. The fund holds a Beta of 1.11, which implies a somewhat significant risk relative to the market. Pax Esg returns are very sensitive to returns on the market. As the market goes up or down, Pax Esg is expected to follow.
Auto-correlation | 0.57 |
Modest predictability
Pax Esg Beta has modest predictability. Overlapping area represents the amount of predictability between Pax Esg time series from 20th of March 2024 to 4th of April 2024 and 4th of April 2024 to 19th of April 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 Esg Beta price movement. The serial correlation of 0.57 indicates that roughly 57.0% of current Pax Esg price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.57 | |
| Spearman Rank Test | 0.72 | |
| Residual Average | 0.0 | |
| Price Variance | 0.17 |
Pax Esg Beta lagged returns against current returns
Autocorrelation, which is Pax Esg 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 Esg's mutual fund expected returns. We can calculate the autocorrelation of Pax Esg returns to help us make a trade decision. For example, suppose you find that Pax Esg 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 Esg 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 Esg mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pax Esg 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 Esg mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Pax Esg Lagged Returns
When evaluating Pax Esg's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pax Esg mutual fund have on its future price. Pax Esg 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 Esg autocorrelation shows the relationship between Pax Esg mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Pax Esg Beta.
Regressed Prices |
| Timeline |
Some investors attempt to determine whether the market's mood is bullish or bearish by monitoring changes in market sentiment. Unlike more traditional methods such as technical analysis, investor sentiment usually refers to the aggregate attitude towards Pax Esg in the overall investment community. So, suppose investors can accurately measure the market's sentiment. In that case, they can use it for their benefit. For example, some tools to gauge market sentiment could be utilized using contrarian indexes, Pax Esg's short interest history, or implied volatility extrapolated from Pax Esg options trading.
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Check out Pax Esg Correlation, Pax Esg Volatility and Pax Esg Alpha and Beta module to complement your research on Pax Esg. Note that the Pax Esg Beta information on this page should be used as a complementary analysis to other Pax Esg's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
Pax Esg technical mutual fund analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, fund market cycles, or different charting patterns.