Praxis Small Correlations

Mutual Funds . USA . 
Fund . Praxis Small Cap
MMSCX Fund  USD 10.76  0.03  0.28%   
The current 90-days correlation between Praxis Small Cap and Praxis Small Cap is 1.0 (i.e., No risk reduction). The correlation of Praxis Small 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 Small Correlation With Market

Very poor diversification

The correlation between Praxis Small Cap and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Praxis Small Cap 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 Small Cap. 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 main economic indicators.

Moving together with Praxis Mutual Fund

  0.98MMDEX Praxis Growth IndexPairCorr
  1.0MMSIX Praxis Small CapPairCorr
  0.72MPLIX Praxis InternationalPairCorr
  0.94MCONX Praxis Genesis ServativePairCorr
  0.72MVIIX Praxis Value IndexPairCorr
  0.98MVIAX Praxis Value IndexPairCorr
  0.98MGAFX Praxis Genesis GrowthPairCorr
  0.71MGNDX Praxis Growth IndexPairCorr
  1.0VSMAX Vanguard Small CapPairCorr
  1.0VSCIX Vanguard Small CapPairCorr
  1.0VSCPX Vanguard Small CapPairCorr
  1.0NAESX Vanguard Small CapPairCorr
  0.99FSSNX Fidelity Small CapPairCorr
  1.0DFSTX Us Small CapPairCorr
  0.99PASVX T Rowe PricePairCorr
  0.99PRVIX T Rowe PricePairCorr
  0.99TRZVX T Rowe PricePairCorr
  0.99PRSVX T Rowe PricePairCorr
  0.94CPAYX Columbia Pacific/asiaPairCorr
  0.96CASAX Columbia Pacific/asiaPairCorr
  0.96CASCX Columbia PacificasiaPairCorr
  0.98MSKLX Mid Cap GrowthPairCorr
  0.97CISGX Touchstone Sands CapitalPairCorr
  0.97MMCGX Mid Cap GrowthPairCorr
  0.98SWNRX Schwab Target 2050PairCorr
  0.94TIHWX Tiaa-cref High-yieldPairCorr
  0.99CGCGX Columbia Growth 529PairCorr
  0.82CRIYX Columbia Porate IncomePairCorr
  0.97EQIAX Wells Fargo EmergingPairCorr
  0.97SHDPX American Beacon ShapiroPairCorr
  0.99NSVAX Columbia Small CapPairCorr
  0.92GGDPX Goldman Sachs InternPairCorr
  0.61JIVAX Jpmorgan Intrepid ValuePairCorr
  0.75BARIX Baron Asset FundPairCorr
  0.99CFNDX Cargile FundPairCorr

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 Small 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 Small'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MMSCX  0.82  0.09  0.09  0.21  0.81 
(0.96)
 2.19 
(1.74)
 6.61 
MMSIX  0.82  0.09  0.09  0.22  0.81 
(0.96)
 2.22 
(1.72)
 6.52 
MPLAX  0.44  0.20  0.08 (2.24) 0.26 
(0.52)
 1.34 
(0.83)
 3.12 
MPLIX  0.45  0.20  0.09 (2.00) 0.25 
(0.53)
 1.33 
(0.93)
 3.15 
MBAPX  0.35  0.17  0.06 (2.33) 0.00 
(0.43)
 1.20 
(0.57)
 2.56 
MCONX  0.25  0.04 (0.17) 0.27  0.08 
(0.33)
 0.67 
(0.42)
 1.71 
MVIIX  0.57  0.21  0.09 (1.15) 0.35 
(0.67)
 1.55 
(0.86)
 4.24 
MVIAX  0.60  0.04  0.01  0.18  0.59 
(0.67)
 1.57 
(1.24)
 4.21 
MGAFX  0.46  0.09  0.05  0.28  0.30 
(0.51)
 1.45 
(1.05)
 3.33 
MGNDX  0.75  0.40  0.40  29.72  0.00 
(0.96)
 2.40 
(1.00)
 5.64 

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