Praxis Value Correlations

MVIAX Fund

USD 19.35 0.04 0.21%

The current 90-days correlation between Praxis Value Index and Jennison Natural Resources is -0.09 (i.e., Good diversification). The correlation of Praxis Value 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 Value Correlation With Market

Good diversification

The correlation between Praxis Value Index and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Praxis Value 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 Value 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 nation.

Moving together with Praxis Mutual Fund

0.71	MMDEX	Praxis Growth Index	Pair Corr
0.64	MMSCX	Praxis Small Cap	Pair Corr
0.82	MPLAX	Praxis International	Pair Corr
0.78	MPLIX	Praxis International	Pair Corr
0.85	MBAPX	Praxis Genesis Balanced	Pair Corr
0.81	MCONX	Praxis Genesis Servative	Pair Corr
0.82	MVIIX	Praxis Value Index	Pair Corr
0.86	MGAFX	Praxis Genesis Growth	Pair Corr
0.72	MGNDX	Praxis Growth Index	Pair Corr
0.69	MIIIX	Praxis Impact Bond	Pair Corr
0.72	MIIAX	Praxis Impact Bond	Pair Corr
0.8	FWWMX	American Funds Washington	Pair Corr
0.8	FWMMX	American Funds Washington	Pair Corr
0.91	AWSHX	Washington Mutual	Pair Corr
0.9	WSHCX	Washington Mutual	Pair Corr
0.79	WSHFX	Washington Mutual	Pair Corr
0.85	VVIAX	Vanguard Value Index	Pair Corr
0.79	RWMAX	Washington Mutual	Pair Corr
0.91	CWMAX	Washington Mutual	Pair Corr
0.8	RWMGX	Washington Mutual	Pair Corr
0.9	CWMCX	Washington Mutual	Pair Corr
0.65	CII	Blackrock Enhanced	Pair Corr
0.72	ETV	Eaton Vance Tax	Pair Corr
0.77	CLM	Cornerstone Strategic Sell-off Trend	Pair Corr
0.75	CRF	Cornerstone Total Return Sell-off Trend	Pair Corr
0.74	NFJ	Virtus Dividend Interest	Pair Corr
0.75	MMHEX	Mainstay Mackay High	Pair Corr
0.72	FZAFX	Fidelity Advisor Equity	Pair Corr
0.83	FRBKX	Fidelity Advisor Freedom	Pair Corr
0.62	RSGFX	Victory Rs Select	Pair Corr
0.84	CGLGX	American Funds Growth	Pair Corr
0.76	SCDGX	Deutsche E Equity	Pair Corr

Moving against Praxis Mutual Fund

0.53

USA

Liberty All Star

Pair Corr

Related Correlations Analysis

	PNRCX	ICBAX	GAAHX	ALTEX	CAEIX	GMOWX
PNRCX		0.84	0.86	0.9	0.87	0.83	PNRCX
ICBAX	0.84		0.72	0.83	0.81	0.77	ICBAX
GAAHX	0.86	0.72		0.77	0.9	0.92	GAAHX
ALTEX	0.9	0.83	0.77		0.92	0.74	ALTEX
CAEIX	0.87	0.81	0.9	0.92		0.85	CAEIX
GMOWX	0.83	0.77	0.92	0.74	0.85		GMOWX
	PNRCX	ICBAX	GAAHX	ALTEX	CAEIX	GMOWX

Risk-Adjusted Indicators

There is a big difference between Praxis Mutual Fund performing well and Praxis Value 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 Value'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
PNRCX	0.85	0.13	0.09	0.21	1.15	(0.90)	1.89	(2.27)	6.80
ICBAX	1.00	0.10	0.05	(101.03)	1.03	(1.25)	3.33	(1.85)	7.06
GAAHX	0.97	0.11	0.09	0.15	0.95	(1.13)	2.06	(1.66)	7.33
ALTEX	1.67	0.12	0.07	0.11	2.24	(1.66)	3.59	(4.07)	14.57
CAEIX	0.72	0.05	0.04	0.09	0.87	(0.74)	1.48	(1.69)	5.24
GMOWX	0.97	0.20	0.13	(7.38)	0.90	(1.14)	2.11	(1.71)	7.29

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