Praxis Value Correlations

Mutual Funds . USA . 
Fund . Praxis Value Index
MVIIX Fund  USD 18.68  0.05  0.27%   
The current 90-days correlation between Praxis Value Index and Delaware Healthcare Fund is -0.25 (i.e., Very 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

Almost no diversification

The correlation between Praxis Value Index and DJI is 0.93 (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 gross domestic product.

Moving together with Praxis Mutual Fund

  0.98MMDEX Praxis Growth IndexPairCorr
  0.95MMSCX Praxis Small CapPairCorr
  0.98MMSIX Praxis Small CapPairCorr
  0.95MPLAX Praxis InternationalPairCorr
  0.97MPLIX Praxis InternationalPairCorr
  0.97MBAPX Praxis Genesis BalancedPairCorr
  0.97MCONX Praxis Genesis ServativePairCorr
  0.97MVIAX Praxis Value IndexPairCorr
  0.97MGAFX Praxis Genesis GrowthPairCorr
  0.96MGNDX Praxis Growth IndexPairCorr
  0.66MIIIX Praxis Impact BondPairCorr
  0.66MIIAX Praxis Impact BondPairCorr
  1.0VVIAX Vanguard Value IndexPairCorr
  0.99DOXGX Dodge Cox StockPairCorr
  0.97AFMFX American MutualPairCorr
  0.99FFMMX American Funds AmericanPairCorr
  0.99FFFMX American Funds AmericanPairCorr
  0.97AMRMX American MutualPairCorr
  0.97AMFFX American MutualPairCorr
  0.97AMFCX American MutualPairCorr
  0.99DODGX Dodge Stock FundPairCorr
  1.0VIVAX Vanguard Value IndexPairCorr
  0.65NHS Neuberger Berman HighPairCorr
  0.97JHAYX John Hancock FundsPairCorr
  0.9NLSAX Neuberger Berman LongPairCorr
  0.96HRNIX Hood River NewPairCorr
  0.98MFEKX Mfs Growth FundPairCorr
  0.97MXNYX Great West LifetimePairCorr
  0.97HWVAX Hotchkis Wiley SmallPairCorr
  0.96PDARX Diversified Real AssetPairCorr
  0.97NIPAX Columbia Capital AllPairCorr
  0.8FARYX Fulcrum DiversifiedPairCorr
  0.74OEPIX Oil Equipment Services Steady GrowthPairCorr
  0.88MCHFX Matthews China Steady GrowthPairCorr
  0.97CCFAX American Funds LegePairCorr
  0.96BUIDX Buffalo Dividend FocusPairCorr
  0.99GDSTX Goldman Sachs SmallPairCorr
  0.87MTFFX Mainstay Mackay StrategicPairCorr
  0.96ARDC Ares Dynamic CreditPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
LYFAX
+ 0.93
DLHAX
LYFAX
+ 0.93
HGHYX
PJHRX
+ 0.91
LYFAX
PJHRX
+ 0.9
DLHAX
HGHYX
+ 0.82
DLHAX
PJHRX
+ 0.75
HGHYX
  
High negative correlations   
HHCZX
- 0.09
HGHYX

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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