Pax Global Correlations

PXEAX Fund

USD 22.85 0.04 0.18%

The current 90-days correlation between Pax Global Environmental and Lifestyle Ii Moderate is 0.7 (i.e., Poor diversification). The correlation of Pax Global 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 Global Correlation With Market

Poor diversification

The correlation between Pax Global Environmental and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pax Global Environmental 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 Global Environmental. 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 nation.

Moving together with Pax Mutual Fund

0.93	PXGOX	Pax Global Opportunities	Pair Corr
0.64	PXGAX	Pax Esg Beta	Pair Corr
0.64	PXLIX	Pax Large Cap	Pair Corr
0.71	PXSAX	Pax Small Cap	Pair Corr
0.72	PXSIX	Pax Small Cap	Pair Corr
0.71	PXSCX	Pax Small Cap	Pair Corr
0.64	PXWGX	Pax Esg Beta	Pair Corr
0.82	PXWIX	Pax Ellevate Global	Pair Corr
0.81	PXWEX	Pax Ellevate Global	Pair Corr
1.0	PGINX	Pax Global Environmental	Pair Corr
1.0	PGRNX	Pax Global Environmental	Pair Corr
0.81	PAXIX	Pax Balanced	Pair Corr
0.8	PAXWX	Pax Balanced	Pair Corr
0.65	PWGIX	Pax Esg Beta	Pair Corr
0.75	FCWGX	American Funds Capital	Pair Corr
0.75	FWCGX	American Funds Capital	Pair Corr
0.76	CWGIX	Capital World Growth	Pair Corr
0.76	CWGFX	Capital World Growth	Pair Corr
0.77	CWGCX	Capital World Growth	Pair Corr
0.75	RWIFX	Capital World Growth	Pair Corr
0.77	CWICX	Capital World Growth	Pair Corr
0.77	RWIAX	Capital World Growth	Pair Corr
0.76	CWIAX	Capital World Growth	Pair Corr
0.75	WGIFX	Capital World Growth	Pair Corr

Moving against Pax Mutual Fund

0.47

MBLCX

Madison Diversified

Pair Corr

Related Correlations Analysis

	JLMOX	MURFX	BTRIX	JLAEX	JTMIX	EXBAX	MRMTX
JLMOX		0.82	0.58	0.95	0.98	0.97	0.99	JLMOX
MURFX	0.82		0.45	0.73	0.82	0.81	0.88	MURFX
BTRIX	0.58	0.45		0.76	0.46	0.47	0.58	BTRIX
JLAEX	0.95	0.73	0.76		0.91	0.89	0.93	JLAEX
JTMIX	0.98	0.82	0.46	0.91		0.98	0.97	JTMIX
EXBAX	0.97	0.81	0.47	0.89	0.98		0.96	EXBAX
MRMTX	0.99	0.88	0.58	0.93	0.97	0.96		MRMTX
	JLMOX	MURFX	BTRIX	JLAEX	JTMIX	EXBAX	MRMTX

Click cells to compare fundamentals

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Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Pax Mutual Fund performing well and Pax Global 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 Global'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
JLMOX	0.32	0.00	(0.01)	(0.01)	0.43	(0.36)	0.64	(0.63)	1.75
MURFX	0.32	(0.05)	0.00	(0.19)	0.00	0.00	0.58	(0.57)	2.82
BTRIX	0.20	0.01	0.01	(0.08)	0.19	(0.26)	0.44	(0.44)	1.22
JLAEX	0.24	0.01	0.01	0.03	0.29	(0.28)	0.52	(0.52)	1.32
JTMIX	0.31	0.00	(0.01)	(0.01)	0.42	(0.33)	0.65	(0.65)	1.88
EXBAX	0.35	(0.01)	(0.02)	(0.03)	0.46	(0.37)	0.70	(0.69)	1.99
MRMTX	0.33	(0.02)	0.00	(0.06)	0.00	0.00	0.68	(0.68)	2.47

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