|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 TrendCheck current 30 days Pax High correlation with market (DOW)|
β = 0.0856
Pax High Yield Technical Analysis
Pax High Projected Return Density Against MarketAssuming 30 trading days horizon, Pax High has beta of 0.0856 . 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. Moreover, Pax High Yield Bond Institutional has an alpha of 0.0108 implying that it can potentially generate 0.0108% excess return over DOW after adjusting for the inherited market risk (beta).
Predicted Return Density
Pax High Return VolatilityPax High Yield Bond Institutional shows 0.087% volatility of returns over 30 trading days. DOW inherits 0.3625% risk (volatility on return distribution) over the 30 days horizon.