Pax Ellevate Global Fund Market Value
| PXWEX Fund | USD 34.54 0.28 0.80% |
| Symbol | Pax |
Pax Ellevate 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Pax Ellevate's mutual fund what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Pax Ellevate.
| 05/27/2024 |
| 11/23/2024 |
If you would invest 0.00 in Pax Ellevate on May 27, 2024 and sell it all today you would earn a total of 0.00 from holding Pax Ellevate Global or generate 0.0% return on investment in Pax Ellevate over 180 days. Pax Ellevate is related to or competes with Pax Global, Pax Small, Pax Esg, Pax Balanced, and Pax High. The fund seeks to construct a universe of companies around the world that advance and empower women through gender diver... More
Pax Ellevate Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Pax Ellevate's mutual fund current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Pax Ellevate Global upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.734 | |||
| Information Ratio | (0.09) | |||
| Maximum Drawdown | 3.44 | |||
| Value At Risk | (1.38) | |||
| Potential Upside | 1.15 |
Pax Ellevate Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Pax Ellevate's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Pax Ellevate's standard deviation. In reality, there are many statistical measures that can use Pax Ellevate historical prices to predict the future Pax Ellevate's volatility.| Risk Adjusted Performance | 0.0492 | |||
| Jensen Alpha | 0.0412 | |||
| Total Risk Alpha | (0.06) | |||
| Sortino Ratio | (0.09) | |||
| Treynor Ratio | (0.79) |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of Pax Ellevate's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
Pax Ellevate Global Backtested Returns
At this stage we consider Pax Mutual Fund to be very steady. Pax Ellevate Global maintains Sharpe Ratio (i.e., Efficiency) of 0.047, which implies the entity had a 0.047% return per unit of risk over the last 3 months. We have found twenty-eight technical indicators for Pax Ellevate Global, which you can use to evaluate the volatility of the fund. Please check Pax Ellevate's Risk Adjusted Performance of 0.0492, semi deviation of 0.6434, and Coefficient Of Variation of 1527.08 to confirm if the risk estimate we provide is consistent with the expected return of 0.0336%. The fund holds a Beta of -0.0464, which implies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Pax Ellevate are expected to decrease at a much lower rate. During the bear market, Pax Ellevate is likely to outperform the market.
Auto-correlation | 0.32 |
Below average predictability
Pax Ellevate Global has below average predictability. Overlapping area represents the amount of predictability between Pax Ellevate time series from 27th of May 2024 to 25th of August 2024 and 25th of August 2024 to 23rd of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Pax Ellevate Global price movement. The serial correlation of 0.32 indicates that nearly 32.0% of current Pax Ellevate price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.32 | |
| Spearman Rank Test | 0.24 | |
| Residual Average | 0.0 | |
| Price Variance | 0.29 |
Pax Ellevate Global lagged returns against current returns
Autocorrelation, which is Pax Ellevate mutual fund's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Pax Ellevate's mutual fund expected returns. We can calculate the autocorrelation of Pax Ellevate returns to help us make a trade decision. For example, suppose you find that Pax Ellevate has exhibited high autocorrelation historically, and you observe that the mutual fund is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Pax Ellevate regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Pax Ellevate mutual fund is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Pax Ellevate mutual fund is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Pax Ellevate mutual fund over time.
Current vs Lagged Prices |
| Timeline |
Pax Ellevate Lagged Returns
When evaluating Pax Ellevate's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Pax Ellevate mutual fund have on its future price. Pax Ellevate autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Pax Ellevate autocorrelation shows the relationship between Pax Ellevate mutual fund current value and its past values and can show if there is a momentum factor associated with investing in Pax Ellevate Global.
Regressed Prices |
| Timeline |
Also Currently Popular
Analyzing currently trending equities could be an opportunity to develop a better portfolio based on different market momentums that they can trigger. Utilizing the top trending stocks is also useful when creating a market-neutral strategy or pair trading technique involving a short or a long position in a currently trending equity.Other Information on Investing in Pax Mutual Fund
Pax Ellevate financial ratios help investors to determine whether Pax Mutual Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Pax with respect to the benefits of owning Pax Ellevate security.
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