Pax Small Cap Fund Market Value
| PXSIX Fund | USD 16.39 0.17 1.03% |
| Symbol | Pax |
Pax Small '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 Small'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 Small.
| 04/22/2023 |
| 04/16/2024 |
If you would invest 0.00 in Pax Small on April 22, 2023 and sell it all today you would earn a total of 0.00 from holding Pax Small Cap or generate 0.0% return on investment in Pax Small over 360 days. Pax Small is related to or competes with Pax Core, Pax Global, Pax Esg, Pax Global, Pax High, Pax Msci, and Pax Large. The fund invests at least 80 percent of its net assets in equity securities of companies that, when purchased, have capi... More
Pax Small 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 Small'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 Small Cap upside and downside potential and time the market with a certain degree of confidence.
| Information Ratio | 0.0557 | |||
| Maximum Drawdown | 3.93 | |||
| Value At Risk | (1.72) | |||
| Potential Upside | 0.9581 |
Pax Small Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pax Small's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pax Small's standard deviation. In reality, there are many statistical measures that can use Pax Small historical prices to predict the future Pax Small's volatility.| Risk Adjusted Performance | (0.03) | |||
| Jensen Alpha | 0.0819 | |||
| Total Risk Alpha | 0.0963 | |||
| Treynor Ratio | (0.04) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Pax Small'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 Small Cap Backtested Returns
Pax Small Cap maintains Sharpe Ratio (i.e., Efficiency) of -0.0465, which implies the entity had a -0.0465% return per unit of risk over the last month. Pax Small Cap exposes twenty-one different technical indicators, which can help you to evaluate volatility embedded in its price movement. Please check Pax Small's Risk Adjusted Performance of (0.03), variance of 0.8933, and Coefficient Of Variation of (2,218) to confirm the risk estimate we provide. The fund holds a Beta of 1.28, which implies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, Pax Small will likely underperform.
Auto-correlation | 0.41 |
Average predictability
Pax Small Cap has average predictability. Overlapping area represents the amount of predictability between Pax Small time series from 22nd of April 2023 to 19th of October 2023 and 19th of October 2023 to 16th 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 Small Cap price movement. The serial correlation of 0.41 indicates that just about 41.0% of current Pax Small price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.41 | |
| Spearman Rank Test | 0.12 | |
| Residual Average | 0.0 | |
| Price Variance | 1.21 |
Pax Small Cap lagged returns against current returns
Autocorrelation, which is Pax Small 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 Small's mutual fund expected returns. We can calculate the autocorrelation of Pax Small returns to help us make a trade decision. For example, suppose you find that Pax Small 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 Small 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 Small mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pax Small 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 Small mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Pax Small Lagged Returns
When evaluating Pax Small's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pax Small mutual fund have on its future price. Pax Small 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 Small autocorrelation shows the relationship between Pax Small mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Pax Small Cap.
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 Small 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 Small's short interest history, or implied volatility extrapolated from Pax Small options trading.
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Check out Pax Small Correlation, Pax Small Volatility and Pax Small Alpha and Beta module to complement your research on Pax Small. You can also try the Transaction History module to view history of all your transactions and understand their impact on performance.
Pax Small 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.