Pax High Backtesting

PXHIX -- USA Fund  

USD 6.40  0.01  0.16%

With this equity back-testing module your can estimate the performance of a buy and hold strategy of Pax High Yield Bond Institutional and determine expected loss or profit from investing in Pax High over given investment horizon. Additionally take a look at Pax High Hype Analysis, Pax High Correlation, Portfolio Optimization, Pax High Volatility as well as analyze Pax High Alpha and Beta and Pax High Performance.
Horizon     30 Days    Login   to change
SymbolX
Backtest

Pax High 'What if' Analysis

October 22, 2018
0.00
No Change 0.00  0.0%
In 30 days
November 21, 2018
0.00
If you would invest  0.00  in Pax High on October 22, 2018 and sell it all today you would earn a total of 0.00 from holding Pax High Yield Bond Institutional or generate 0.0% return on investment in Pax High over 30 days. Pax High is related to or competes with Vanguard High, American Funds, American Funds, MainStay High, JPMorgan High, PIMCO High, and PIMCO High. The investment seeks high current income as a secondary investment objective, it seeks capital appreciation

Pax High Upside/Downside Indicators

Information Ratio0.0208
Maximum Drawdown1.23
Value At Risk0.46
Potential Upside0.3091
  

Pax High Market Premium Indicators

Risk Adjusted Performance0.32
Jensen Alpha0.07
Total Risk Alpha0.06
Treynor Ratio2.49

Pax High Yield Backtested Returns

Macroaxis considers Pax High to be not too volatile. Pax High Yield maintains Sharpe Ratio (i.e. Efficiency) of -0.2279 which implies Pax High Yield had -0.2279% of return per unit of risk over the last 1 month. Macroaxis philosophy towards forecasting risk of any fund is to look at both systematic and un-systematic factors of the business, including all available market data and technical indicators. Pax High Yield exposes twenty-one different technical indicators which can help you to evaluate volatility that cannot be diversified away. Please be advised to check Pax High Yield Coefficient Of Variation of 438.72 and Risk Adjusted Performance of 0.32 to confirm risk estimate we provide. The fund holds Beta of 0.0296 which implies as returns on market increase, Pax High returns are expected to increase less than the market. However during bear market, the loss on holding Pax High will be expected to be smaller as well.. Even though it is essential to pay attention to Pax High Yield current trending patterns, it is always good to be careful when utilizing equity existing price patterns. Macroaxis philosophy towards forecasting future performance of any fund is to check both, its past performance charts as well as the business as a whole, including all available technical indicators. Pax High Yield exposes twenty-one different technical indicators which can help you to evaluate its performance.
Advice Volatility Trend Exposure Correlations
15 days auto-correlation(0.20) 
correlation synergy

Insignificant reverse predictability

Pax High Yield Bond Institutional has insignificant reverse predictability. Overlapping area represents the amount of predictability between Pax High time series from October 22, 2018 to November 6, 2018 and November 6, 2018 to November 21, 2018. 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 -0.2 indicates that over 20.0% of current Pax High price fluctuation can be explain by its past prices. Given that Pax High Yield Bond Institutional has negative autocorrelation for selected time horizon, investors may consider taking a contrarian position regarding future price movement of Pax High for similar time interval.
Correlation Coefficient-0.2
Spearman Rank Test0.19
Residual Average0.0
Price Variance0.0

Pax High Yield lagged returns against current returns

 Current and Lagged Values 
      Timeline 

Pax High regressed lagged prices vs. current prices

 Current vs Lagged Prices 
      Timeline 

Pax High Lagged Returns

 Regressed Prices 
      Timeline 

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Additionally take a look at Pax High Hype Analysis, Pax High Correlation, Portfolio Optimization, Pax High Volatility as well as analyze Pax High Alpha and Beta and Pax High Performance. Please also try Aroon Oscillator module to analyze current equity momentum using aroon oscillator and other momentum ratios.
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