Pax High Risk Analysis And Volatility Evaluation

PXHIX -- USA Fund  

USD 6.61  0.01  0.15%

We consider Pax High not too risky. Pax High Yield maintains Sharpe Ratio (i.e. Efficiency) of 0.2495 which implies Pax High Yield had 0.2495% of return per unit of risk over the last 1 month. Our philosophy towards forecasting volatility of a fund is to use all available market data together with fund specific technical indicators that cannot be diversified away. We have found twenty-one technical indicators for Pax High Yield which you can use to evaluate future volatility of the fund. Please check Pax High Yield Coefficient Of Variation of 323.26 and Risk Adjusted Performance of 0.0824 to confirm if risk estimate we provide are consistent with the epected return of 0.0217%.
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 = 0.0856
Pax High Small BetaPax High Yield Beta Legend

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 0.0856 . 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 
      Returns 
Assuming 30 trading days horizon, the coefficient of variation of Pax High is 400.77. The daily returns are destributed with a variance of 0.01 and standard deviation of 0.09. The mean deviation of Pax High Yield Bond Institutional is currently at 0.06. For similar time horizon, the selected benchmark (DOW) has volatility of 0.37
α
Alpha over DOW
=0.0108
β
Beta against DOW=0.09
σ
Overall volatility
=0.09
Ir
Information ratio =0.69

Pax High Return Volatility

Pax 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.
 Performance (%) 
      Timeline 

Market Risk Breakdown

Pax High Volatility Factors

30 Days Market Risk

Not too risky

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 0.36 and is 4.0 times more volatile than Pax High Yield Bond Institutional. 0% 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 0 (%) of all global equities and portfolios over the last 30 days. Use Pax High Yield Bond Institutional to enhance returns of your portfolios. The fund experiences normal upward fluctuation. Check odds of Pax High to be traded at $6.94 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

Weak 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

Additionally take a look at Your Equity Center. Please also try Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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