Pax High Risk Analysis And Volatility Evaluation

PXHIX -- USA Fund  

USD 6.41  0.03  0.47%

Macroaxis considers Pax High to be not too volatile. Pax High Yield maintains Sharpe Ratio (i.e. Efficiency) of -0.182 which implies Pax High Yield had -0.182% 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 440.39 and Risk Adjusted Performance of 0.31 to confirm risk estimate we provide.
Horizon     30 Days    Login   to change

Pax High Market Sensitivity

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.
One Month Beta |Analyze Pax High Yield Demand Trend
Check current 30 days Pax High correlation with market (DOW)
β = 0.0303

Pax High Central Daily Price Deviation

Pax High Yield Technical Analysis

Transformation
The output start index for this execution was zero with a total number of output elements of seventeen. Pax High Yield Average Price is the average of the sum of open, high, low and close daily prices of a bar. It can be used to smooth an indicator that normally takes just the closing price as input. View also all equity analysis or get more info about average price price transform indicator.

Pax High Projected Return Density Against Market

Assuming 30 trading days horizon, Pax High has beta of 0.0303 . This implies as returns on market go up, Pax High average returns are expected to increase less than the benchmark. However during bear market, the loss on holding Pax High Yield Bond Institutional will be expected to be much smaller as well. Additionally, Pax High Yield Bond Institutional has a negative alpha implying that the risk taken by holding this equity is not justified. The company is significantly underperforming DOW
 Predicted Return Density 
      Returns 
Assuming 30 trading days horizon, the coefficient of variation of Pax High is -549.46. The daily returns are destributed with a variance of 0.08 and standard deviation of 0.28. The mean deviation of Pax High Yield Bond Institutional is currently at 0.22. For similar time horizon, the selected benchmark (DOW) has volatility of 1.22
α
Alpha over DOW
=0.07
β
Beta against DOW=0.0303
σ
Overall volatility
=0.28
Ir
Information ratio =0.0137

Pax High Return Volatility

Pax High Yield Bond Institutional shows 0.2849% volatility of returns over 30 trading days. DOW inherits 1.1955% risk (volatility on return distribution) over the 30 days horizon.
 Performance (%) 
      Timeline 

Market Risk Breakdown

Pax High Volatility Factors

30 Days Market Risk

Not too volatile

Chance of Distress in 24 months

Almost imposible

30 Days Economic Sensitivity

Barely shadows market

Investment Outlook

Pax High Investment Opportunity

DOW has a standard deviation of returns of 1.2 and is 4.29 times more volatile than Pax High Yield Bond Institutional. 2% of all equities and portfolios are less risky than Pax High. Compared to the overall equity markets, volatility of historical daily returns of Pax High Yield Bond Institutional is lower than 2 (%) of all global equities and portfolios over the last 30 days. Use Pax High Yield Bond Institutional to protect against small markets fluctuations. The fund experiences normal downward trend and little activity. Check odds of Pax High to be traded at $6.35 in 30 days. 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.

Pax High correlation with market

correlation synergy
Average diversification
Overlapping area represents the amount of risk that can be diversified away by holding Pax High Yield Bond Institutio and equity matching DJI index in the same portfolio.

Pax High Volatility Indicators

Pax High Yield Bond Institutional Current Risk Indicators

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