Pax Ellevate Global Fund Market Value
| PXWIX Fund | USD 32.86 0.01 0.03% |
| Symbol | Pax |
Pax Ellevate '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 Ellevate'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 Ellevate.
| 02/13/2024 |
| 05/13/2024 |
If you would invest 0.00 in Pax Ellevate on February 13, 2024 and sell it all today you would earn a total of 0.00 from holding Pax Ellevate Global or generate 0.0% return on investment in Pax Ellevate over 90 days. Pax Ellevate is related to or competes with FT Cboe. The investment seeks investment returns that closely correspond to or exceed the price and yield performance, before fee... More
Pax Ellevate 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 Ellevate'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 Ellevate Global upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.7214 | |||
| Information Ratio | (0.08) | |||
| Maximum Drawdown | 2.82 | |||
| Value At Risk | (1.09) | |||
| Potential Upside | 0.9533 |
Pax Ellevate Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pax Ellevate's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pax Ellevate's standard deviation. In reality, there are many statistical measures that can use Pax Ellevate historical prices to predict the future Pax Ellevate's volatility.| Risk Adjusted Performance | 0.0271 | |||
| Jensen Alpha | 0.0103 | |||
| Total Risk Alpha | (0.05) | |||
| Sortino Ratio | (0.07) | |||
| Treynor Ratio | 0.1564 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Pax Ellevate'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 Ellevate Global Backtested Returns
We consider Pax Ellevate very steady. Pax Ellevate Global maintains Sharpe Ratio (i.e., Efficiency) of 0.0782, which implies the entity had a 0.0782% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Pax Ellevate Global, which you can use to evaluate the volatility of the fund. Please check Pax Ellevate's Coefficient Of Variation of 2327.71, semi deviation of 0.6757, and Risk Adjusted Performance of 0.0271 to confirm if the risk estimate we provide is consistent with the expected return of 0.0496%. The fund holds a Beta of 0.12, which implies not very significant fluctuations relative to the market. As returns on the market increase, Pax Ellevate's returns are expected to increase less than the market. However, during the bear market, the loss of holding Pax Ellevate is expected to be smaller as well.
Auto-correlation | -0.36 |
Poor reverse predictability
Pax Ellevate Global has poor reverse predictability. Overlapping area represents the amount of predictability between Pax Ellevate time series from 13th of February 2024 to 29th of March 2024 and 29th of March 2024 to 13th of May 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 Ellevate Global price movement. The serial correlation of -0.36 indicates that just about 36.0% of current Pax Ellevate price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.36 | |
| Spearman Rank Test | -0.3 | |
| Residual Average | 0.0 | |
| Price Variance | 0.24 |
Pax Ellevate Global lagged returns against current returns
Autocorrelation, which is Pax Ellevate 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 Ellevate's mutual fund expected returns. We can calculate the autocorrelation of Pax Ellevate returns to help us make a trade decision. For example, suppose you find that Pax Ellevate 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 Ellevate 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 Ellevate mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pax Ellevate 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 Ellevate mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Pax Ellevate Lagged Returns
When evaluating Pax Ellevate's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pax Ellevate mutual fund have on its future price. Pax Ellevate 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 Ellevate autocorrelation shows the relationship between Pax Ellevate mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Pax Ellevate Global.
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 Ellevate 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 Ellevate's short interest history, or implied volatility extrapolated from Pax Ellevate options trading.
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Check out Pax Ellevate Correlation, Pax Ellevate Volatility and Pax Ellevate Alpha and Beta module to complement your research on Pax Ellevate. You can also try the ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
Pax Ellevate 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.