Praxis Value Correlations

Mutual Funds . USA . 
Fund . Praxis Value Index
MVIAX Fund  USD 18.55  0.01  0.05%   
The current 90-days correlation between Praxis Value Index and T Rowe Price is 0.74 (i.e., Poor 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

Almost no diversification

The correlation between Praxis Value Index and DJI is 0.9 (i.e., Almost no 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

  0.98MMDEX Praxis Growth IndexPairCorr
  0.98MMSCX Praxis Small CapPairCorr
  0.98MMSIX Praxis Small CapPairCorr
  0.97MPLAX Praxis InternationalPairCorr
  0.97MPLIX Praxis InternationalPairCorr
  0.99MBAPX Praxis Genesis BalancedPairCorr
  0.98MCONX Praxis Genesis ServativePairCorr
  1.0MVIIX Praxis Value IndexPairCorr
  0.99MGAFX Praxis Genesis GrowthPairCorr
  0.98MGNDX Praxis Growth IndexPairCorr
  0.64MIIIX Praxis Impact BondPairCorr
  0.62MIIAX Praxis Impact BondPairCorr
  1.0VVIAX Vanguard Value IndexPairCorr
  0.99DOXGX Dodge Cox StockPairCorr
  0.99AFMFX American MutualPairCorr
  0.99FFMMX American Funds AmericanPairCorr
  0.99FFFMX American Funds AmericanPairCorr
  0.99AMRMX American MutualPairCorr
  0.99AMFFX American MutualPairCorr
  0.99AMFCX American MutualPairCorr
  0.99DODGX Dodge Stock FundPairCorr
  1.0VIVAX Vanguard Value IndexPairCorr
  1.0CDIRX Columbia Dividend IncomePairCorr
  0.99PSIFX Prudential Qma StockPairCorr
  0.95FHLFX Fidelity Series IntePairCorr
  0.99FRCHX Fidelity Freedom BlendPairCorr
  0.98ARSIX Amg River RoadPairCorr
  0.96VADGX Vanguard Advice SelectPairCorr
  0.94CUSBX Columbia Ultra ShortPairCorr
  0.99TBLIX Transamerica Multi-managedPairCorr
  0.95EBNEX American Funds EmergingPairCorr
  0.99VMVIX Vanguard Mid CapPairCorr

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 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.

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