Pax Balanced Correlations

Mutual Funds . USA . 
Fund . Pax Balanced Fund
PAXWX Fund  USD 26.72  0.10  0.38%   
The current 90-days correlation between Pax Balanced and Pax Esg Beta is -0.11 (i.e., Good diversification). The correlation of Pax Balanced 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 Balanced Correlation With Market

Good diversification

The correlation between Pax Balanced Fund and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pax Balanced Fund 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 Balanced Fund. 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 housing.

Moving together with Pax Mutual Fund

  0.87PXEAX Pax Global EnvironmentalPairCorr
  0.75PXGOX Pax Global OpportunitiesPairCorr
  0.62PXHAX Pax High YieldPairCorr
  0.64PXGAX Pax Esg BetaPairCorr
  0.83PXLIX Pax Large CapPairCorr
  0.62PXWIX Pax Ellevate GlobalPairCorr
  0.71PXWEX Pax Ellevate GlobalPairCorr
  0.87PGINX Pax Global EnvironmentalPairCorr
  0.73PGRNX Pax Global EnvironmentalPairCorr
  0.64PAXHX Pax High YieldPairCorr
  0.86PAXIX Pax BalancedPairCorr
  0.7FBONX American Funds AmericanPairCorr
  0.7FBAFX American Funds AmericanPairCorr
  0.64ABALX American BalancedPairCorr
  0.65BALCX American BalancedPairCorr
  0.64BALFX American BalancedPairCorr
  0.71RLBCX American BalancedPairCorr
  0.66RLBBX American BalancedPairCorr
  0.64CLBAX American BalancedPairCorr
  0.65CLBEX American BalancedPairCorr
  0.7RLBFX American BalancedPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Pax Mutual Fund performing well and Pax Balanced 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 Balanced'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.

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