Pax Large Correlations

PAXLX Fund

USD 12.96 0.09 0.70%

The current 90-days correlation between Pax Large Cap and Goldman Sachs Capital is 0.16 (i.e., Average diversification). The correlation of Pax Large is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Pax Large Correlation With Market

Average diversification

The correlation between Pax Large Cap and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pax Large Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Pax Large Cap. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Pax Mutual Fund

0.91	PAXGX	Pax Global Opportunities	Pair Corr
0.75	PAXBX	Pax E Bond	Pair Corr
0.8	PAXDX	Pax Esg Beta	Pair Corr
0.73	VTISX	Vanguard Total Inter	Pair Corr
0.73	VTSNX	Vanguard Total Inter	Pair Corr
0.73	VTPSX	Vanguard Total Inter	Pair Corr

Moving against Pax Mutual Fund

0.68	RULFX	Rbc Ultra Short	Pair Corr
0.67	VSLYX	If Inv Snr	Pair Corr
0.67	PYFRX	Payden Floating Rate	Pair Corr
0.65	SADAX	Wells Fargo Ultra	Pair Corr
0.42	CNEYX	Alger Concentrated Equity	Pair Corr
0.37	XDCFX	Dreyfus Alcentra Global	Pair Corr
0.34	TFBCX	American Beacon Twen	Pair Corr
0.32	CDICX	Calvert Short Duration	Pair Corr
0.68	LFMAX	Locorr Macro Strategies	Pair Corr
0.65	LUBAX	Lord Abbett Ultra	Pair Corr
0.64	SADIX	Wells Fargo Ultra	Pair Corr
0.62	FISAX	Franklin Adjustable	Pair Corr
0.62	GSCAX	Goldman Sachs Modity	Pair Corr
0.53	ASFYX	Asg Managed Futures	Pair Corr

Related Correlations Analysis

	GSPTX	JEQIX	SSAQX	SRFMX	GAAEX
GSPTX		0.83	0.68	0.79	0.7	GSPTX
JEQIX	0.83		0.9	0.89	0.57	JEQIX
SSAQX	0.68	0.9		0.84	0.54	SSAQX
SRFMX	0.79	0.89	0.84		0.68	SRFMX
GAAEX	0.7	0.57	0.54	0.68		GAAEX
	GSPTX	JEQIX	SSAQX	SRFMX	GAAEX

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Risk-Adjusted Indicators

There is a big difference between Pax Mutual Fund performing well and Pax Large Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Pax Large's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
GSPTX	0.77	(0.12)	(0.30)	1.17	(1.45)	13.69
JEQIX	0.58	(0.10)	(0.23)	0.86	(1.24)	8.38
SSAQX	0.88	(0.22)	(0.33)	1.13	(1.58)	20.34
SRFMX	0.79	(0.24)	4.72	0.92	(1.70)	16.32
GAAEX	0.84	(0.22)	(0.75)	1.37	(2.50)	4.78

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