Praxis Growth Correlations

Mutual Funds . USA . 
Fund . Praxis Growth Index
MGNDX Fund  USD 50.36  0.32  0.63%   
The current 90-days correlation between Praxis Growth Index and Lebenthal Lisanti Small is 0.93 (i.e., Almost no diversification). The correlation of Praxis Growth 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.

Praxis Growth Correlation With Market

Good diversification

The correlation between Praxis Growth Index and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Praxis Growth Index and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Praxis Growth Index. 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 unemployment.

Moving together with Praxis Mutual Fund

  0.96MMDEX Praxis Growth IndexPairCorr
  0.96MMSCX Praxis Small CapPairCorr
  0.87MMSIX Praxis Small CapPairCorr
  0.87MPLAX Praxis InternationalPairCorr
  0.88MPLIX Praxis InternationalPairCorr
  0.88MBAPX Praxis Genesis BalancedPairCorr
  0.94MCONX Praxis Genesis ServativePairCorr
  0.84MVIIX Praxis Value IndexPairCorr
  0.84MVIAX Praxis Value IndexPairCorr
  0.99MGAFX Praxis Genesis GrowthPairCorr
  0.96FAFGX American FundsPairCorr
  0.96FFAFX American FundsPairCorr
  0.96GFACX Growth FundPairCorr
  1.0GFAFX Growth FundPairCorr
  1.0AGTHX Growth FundPairCorr
  0.96CGFFX Growth FundPairCorr
  1.0CGFCX Growth FundPairCorr
  1.0CGFAX Growth FundPairCorr
  1.0CGFEX Growth FundPairCorr
  0.96RGAEX Growth FundPairCorr
  0.94SMPIX Semiconductor Ultrasector Steady GrowthPairCorr
  0.97SMPSX Semiconductor Ultrasector Steady GrowthPairCorr
  0.94RSNYX Victory Global NaturalPairCorr
  0.96RSNRX Victory Global NaturalPairCorr
  0.94RGNCX Victory Global NaturalPairCorr
  0.87JCLMX Multimanager LifestylePairCorr
  0.88GCCLX Gmo Climate ChangePairCorr
  0.9AVALX Aegis Value FundPairCorr
  0.88RYSYX Sp 500 FundPairCorr
  0.95INGIX Voya Stock IndexPairCorr
  0.9DHMAX Diamond Hill SmallPairCorr
  0.97DBFRX Doubleline Floating RatePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Praxis Mutual Fund performing well and Praxis Growth 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 Praxis Growth'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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