Praxis International Correlations

MPLIX Fund

USD 16.32 0.24 1.49%

The current 90-days correlation between Praxis International and Fidelity Small Cap is 0.52 (i.e., Very weak diversification). The correlation of Praxis International 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 International Correlation With Market

Poor diversification

The correlation between Praxis International Index and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Praxis International 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 International 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 gross domestic product.

Moving together with Praxis Mutual Fund

0.94	MMDEX	Praxis Growth Index	Pair Corr
0.63	MMSIX	Praxis Small Cap	Pair Corr
0.95	MPLAX	Praxis International	Pair Corr
0.94	MBAPX	Praxis Genesis Balanced	Pair Corr
0.95	MCONX	Praxis Genesis Servative	Pair Corr
0.83	MVIIX	Praxis Value Index	Pair Corr
0.8	MVIAX	Praxis Value Index	Pair Corr
0.94	MGAFX	Praxis Genesis Growth	Pair Corr
0.9	MGNDX	Praxis Growth Index	Pair Corr
0.89	MIIIX	Praxis Impact Bond	Pair Corr
0.9	MIIAX	Praxis Impact Bond	Pair Corr
0.95	VGTSX	Vanguard Total Inter	Pair Corr
0.95	VTIAX	Vanguard Total Inter	Pair Corr
0.95	VTSNX	Vanguard Total Inter	Pair Corr
1.0	VTPSX	Vanguard Total Inter	Pair Corr
0.95	VTISX	Vanguard Total Inter	Pair Corr
0.95	VTMGX	Vanguard Developed	Pair Corr
0.95	VDVIX	Vanguard Developed	Pair Corr
0.95	VTMNX	Vanguard Developed	Pair Corr
0.95	VDIPX	Vanguard Developed	Pair Corr
0.97	FSPSX	Fidelity International	Pair Corr
0.81	SMPSX	Semiconductor Ultrasector	Pair Corr
0.81	SMPIX	Semiconductor Ultrasector	Pair Corr
0.85	RSNRX	Victory Global Natural	Pair Corr
0.85	RSNYX	Victory Global Natural	Pair Corr
0.85	RGNCX	Victory Global Natural	Pair Corr
0.94	FOHQX	Franklin Ohio Tax	Pair Corr
0.89	AUUCX	Ab Select Equity	Pair Corr
0.91	BIRCX	Blackrock Impact Equity	Pair Corr
0.89	MIXAX	Mainstay Indexed Bond	Pair Corr
0.94	AZTYX	Aquila Tax Free	Pair Corr
0.95	FTIHX	Fidelity Total Inter	Pair Corr
0.92	MXHPX	Great West Moderately	Pair Corr

Moving against Praxis Mutual Fund

0.7	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.69	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.69	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.69	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.67	SPMJX	Invesco Steelpath Mlp	Pair Corr

Related Correlations Analysis

	FCPVX	PVCMX	NOSGX	BOSVX	VISVX	QRSVX	LVAQX	BRSVX
FCPVX		0.66	0.77	0.67	0.7	0.57	0.38	0.61	FCPVX
PVCMX	0.66		0.86	0.7	0.74	0.86	0.72	0.88	PVCMX
NOSGX	0.77	0.86		0.79	0.79	0.92	0.6	0.9	NOSGX
BOSVX	0.67	0.7	0.79		0.94	0.75	0.86	0.82	BOSVX
VISVX	0.7	0.74	0.79	0.94		0.74	0.86	0.77	VISVX
QRSVX	0.57	0.86	0.92	0.75	0.74		0.69	0.91	QRSVX
LVAQX	0.38	0.72	0.6	0.86	0.86	0.69		0.8	LVAQX
BRSVX	0.61	0.88	0.9	0.82	0.77	0.91	0.8		BRSVX
	FCPVX	PVCMX	NOSGX	BOSVX	VISVX	QRSVX	LVAQX	BRSVX

Risk-Adjusted Indicators

There is a big difference between Praxis Mutual Fund performing well and Praxis International 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 International'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
FCPVX	0.86	0.07	0.10	0.16	0.66	(1.07)	2.18	(1.25)	8.06
PVCMX	0.21	0.01	(0.38)	0.01	0.21	(0.25)	0.48	(0.40)	1.60
NOSGX	0.81	0.11	0.00	(0.50)	0.76	(0.99)	2.01	(1.40)	7.21
BOSVX	0.90	(0.02)	0.03	0.08	0.85	(1.06)	2.06	(1.42)	7.71
VISVX	0.74	(0.06)	(0.03)	0.05	0.76	(0.86)	1.74	(1.13)	6.12
QRSVX	0.75	0.06	(0.06)	(0.23)	0.82	(0.87)	1.89	(1.11)	6.50
LVAQX	0.71	(0.07)	(0.04)	0.05	0.77	(0.88)	1.82	(1.23)	6.49
BRSVX	0.82	0.10	(0.01)	(0.86)	0.83	(0.97)	2.03	(1.30)	7.12

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