Praxis Genesis Correlations

MGAFX Fund

USD 20.36 0.10 0.49%

The current 90-days correlation between Praxis Genesis Growth and Praxis Growth Index is 0.74 (i.e., Poor diversification). The correlation of Praxis Genesis 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 Genesis Correlation With Market

Very poor diversification

The correlation between Praxis Genesis Growth and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Praxis Genesis Growth 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 Genesis Growth. 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 census.

Moving together with Praxis Mutual Fund

0.87	MMDEX	Praxis Growth Index	Pair Corr
0.89	MMSCX	Praxis Small Cap	Pair Corr
0.89	MMSIX	Praxis Small Cap	Pair Corr
0.95	MBAPX	Praxis Genesis Balanced	Pair Corr
0.87	MVIIX	Praxis Value Index	Pair Corr
0.87	MVIAX	Praxis Value Index	Pair Corr
0.87	MGNDX	Praxis Growth Index	Pair Corr
0.83	FFIFX	American Funds	Pair Corr
0.83	FAIFX	American Funds	Pair Corr
0.89	IFACX	Income Fund	Pair Corr
0.83	IFAFX	Income Fund	Pair Corr
0.9	AMECX	Income Fund	Pair Corr
0.82	RIDBX	Income Fund	Pair Corr
0.83	CIMEX	Income Fund	Pair Corr
0.9	RIDFX	Income Fund	Pair Corr
0.82	CIMCX	Income Fund	Pair Corr
0.9	CIMFX	Income Fund	Pair Corr
0.63	WARCX	Wells Fargo Advantage	Pair Corr
0.91	VEXRX	Vanguard Explorer	Pair Corr
0.84	VFIAX	Vanguard 500 Index	Pair Corr
0.87	UCAGX	Cornerstone Aggressive	Pair Corr
0.72	TFBRX	American Beacon Twen	Pair Corr

Moving against Praxis Mutual Fund

0.45	GAAKX	Gmo Alternative Allo	Pair Corr
0.43	GAAGX	Gmo Alternative Allo	Pair Corr

Related Correlations Analysis

	MMDEX	MMSCX	MMSIX	MPLAX	MPLIX	MBAPX	MCONX	MVIIX	MVIAX	MGAFX
MMDEX		0.86	0.86	-0.3	-0.29	0.7	-0.11	0.82	0.82	0.87	MMDEX
MMSCX	0.86		1.0	-0.41	-0.4	0.77	0.04	0.94	0.94	0.89	MMSCX
MMSIX	0.86	1.0		-0.42	-0.4	0.77	0.04	0.94	0.94	0.89	MMSIX
MPLAX	-0.3	-0.41	-0.42		1.0	0.19	0.58	-0.39	-0.39	0.0	MPLAX
MPLIX	-0.29	-0.4	-0.4	1.0		0.2	0.58	-0.38	-0.37	0.01	MPLIX
MBAPX	0.7	0.77	0.77	0.19	0.2		0.6	0.73	0.73	0.95	MBAPX
MCONX	-0.11	0.04	0.04	0.58	0.58	0.6		-0.01	0.0	0.31	MCONX
MVIIX	0.82	0.94	0.94	-0.39	-0.38	0.73	-0.01		1.0	0.87	MVIIX
MVIAX	0.82	0.94	0.94	-0.39	-0.37	0.73	0.0	1.0		0.87	MVIAX
MGAFX	0.87	0.89	0.89	0.0	0.01	0.95	0.31	0.87	0.87		MGAFX
	MMDEX	MMSCX	MMSIX	MPLAX	MPLIX	MBAPX	MCONX	MVIIX	MVIAX	MGAFX

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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

MMSIX	+ 1.0	MMSCX
MPLIX	+ 1.0	MPLAX
MVIAX	+ 1.0	MVIIX
MGAFX	+ 0.95	MBAPX
MVIIX	+ 0.94	MMSCX
MVIAX	+ 0.94	MMSCX

High negative correlations

MPLAX	- 0.42	MMSIX
MPLAX	- 0.41	MMSCX
MPLIX	- 0.4	MMSIX
MPLIX	- 0.4	MMSCX
MVIAX	- 0.39	MPLAX
MVIIX	- 0.39	MPLAX

Risk-Adjusted Indicators

There is a big difference between Praxis Mutual Fund performing well and Praxis Genesis 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 Genesis' 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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MMDEX	0.66	0.13	0.10	0.30	0.59	(0.73)	1.66	(1.37)	5.19
MMSCX	0.86	0.02	0.07	0.13	0.70	(0.97)	1.96	(1.46)	7.49
MMSIX	0.86	0.02	0.07	0.13	0.68	(1.00)	2.00	(1.45)	7.39
MPLAX	0.60	(0.01)	(0.11)	0.08	0.75	(0.60)	1.38	(1.24)	3.95
MPLIX	0.59	(0.01)	(0.11)	0.09	0.75	(0.60)	1.37	(1.23)	3.91
MBAPX	0.33	0.00	(0.17)	0.10	0.30	(0.37)	0.73	(0.61)	2.04
MCONX	0.22	(0.02)	(0.40)	(0.01)	0.24	(0.26)	0.49	(0.49)	1.39
MVIIX	0.46	(0.03)	(0.14)	0.07	0.35	(0.56)	0.99	(0.72)	3.23
MVIAX	0.46	(0.04)	(0.14)	0.07	0.37	(0.57)	0.98	(0.71)	3.26
MGAFX	0.40	0.01	(0.07)	0.13	0.33	(0.47)	0.86	(0.70)	2.74

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