Praxis International Correlations

Mutual Funds . USA . 
Fund . Praxis International Index
MPLIX Fund  USD 14.96  0.03  0.20%   
The current 90-days correlation between Praxis International and Transamerica Asset Allocation is 0.77 (i.e., Poor 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 0.61 (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

  0.66MMDEX Praxis Growth IndexPairCorr
  0.96MMSCX Praxis Small CapPairCorr
  0.65MMSIX Praxis Small CapPairCorr
  1.0MPLAX Praxis InternationalPairCorr
  0.98MBAPX Praxis Genesis BalancedPairCorr
  0.66MCONX Praxis Genesis ServativePairCorr
  0.97MVIIX Praxis Value IndexPairCorr
  0.96MVIAX Praxis Value IndexPairCorr
  0.99MGAFX Praxis Genesis GrowthPairCorr
  0.98MGNDX Praxis Growth IndexPairCorr
  0.63VGTSX Vanguard Total InterPairCorr
  1.0VTIAX Vanguard Total InterPairCorr
  0.63VTSNX Vanguard Total InterPairCorr
  0.63VTPSX Vanguard Total InterPairCorr
  0.63VTISX Vanguard Total InterPairCorr
  0.73VTMGX Vanguard DevelopedPairCorr
  0.66VDVIX Vanguard DevelopedPairCorr
  0.66VTMNX Vanguard DevelopedPairCorr
  0.66VDIPX Vanguard DevelopedPairCorr
  0.7FSPSX Fidelity InternationalPairCorr
  0.98VSTSX Vanguard Total StockPairCorr
  0.98VSMPX Vanguard Total StockPairCorr
  0.98VITSX Vanguard Total StockPairCorr
  0.98VFFSX Vanguard 500 IndexPairCorr
  0.98VFIAX Vanguard 500 IndexPairCorr
  0.98VTSAX Vanguard Total StockPairCorr
  0.98DVRJX Mfs Global AlternativePairCorr
  0.68GAOPX Goldman Sachs BalancedPairCorr
  0.67ACARX Alger Capital ApprecPairCorr
  1.0LRAGX Lord Abbett InternationalPairCorr
  0.99SMSIX Saat Moderate StrategyPairCorr
  0.97VFINX Vanguard 500 IndexPairCorr
  0.99CCYIX Columbia Acorn InterPairCorr
  0.64KGIRX Kopernik InternationalPairCorr

Related Correlations Analysis

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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.

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