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 Multisector Bond Sma is 0.54 (i.e., Very weak 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
  0.97MVIAX Praxis Value IndexPairCorr
  0.97MGAFX Praxis Genesis GrowthPairCorr
  0.66MIIIX 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
  0.96SMPSX Semiconductor UltrasectorPairCorr
  0.96SMPIX Semiconductor UltrasectorPairCorr
  0.95TREMX T Rowe PricePairCorr
  0.97ONERX One Rock FundPairCorr
  0.95TTEEX T Rowe PricePairCorr
  0.96FIKGX Fidelity Advisor SemPairCorr
  0.97FELIX Fidelity Advisor SemPairCorr
  0.97FSELX Fidelity Select SemiPairCorr
  0.96FELAX Fidelity Advisor SemPairCorr
  0.96FELTX Fidelity Advisor SemPairCorr
  1.0SEWIX Guggenheim World EquityPairCorr
  0.95VASDX Vela Short DurationPairCorr
  0.96MADSX Msif Advantage PortPairCorr
  0.73MUA Blackrock MuniassetsPairCorr
  0.99DHAMX Centre American SelectPairCorr
  0.75STMMX Sterling Capital StrattonPairCorr
  0.91FTUAX TelecommunicationsPairCorr
  0.95GABTX Gamco Global Telecom Steady GrowthPairCorr
  0.98DCCIX Delaware Small 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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