Praxis Growth Correlations

MGNDX Fund

USD 44.66 0.23 0.52%

The current 90-days correlation between Praxis Growth Index and Morningstar Defensive Bond is 0.04 (i.e., Significant diversification). The correlation of Praxis Growth 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 Growth Correlation With Market

Poor diversification

The correlation between Praxis Growth Index and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Praxis Growth 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 Growth 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 unemployment.

Moving together with Praxis Mutual Fund

1.0	MMDEX	Praxis Growth Index	Pair Corr
0.75	FAFGX	American Funds	Pair Corr
0.75	FFAFX	American Funds	Pair Corr
0.88	GFACX	Growth Fund	Pair Corr
0.89	GFAFX	Growth Fund	Pair Corr
0.94	AGTHX	Growth Fund	Pair Corr
0.89	CGFFX	Growth Fund	Pair Corr
0.75	CGFCX	Growth Fund	Pair Corr
0.75	CGFAX	Growth Fund	Pair Corr
0.75	CGFEX	Growth Fund	Pair Corr
0.75	RGAEX	Growth Fund	Pair Corr

Moving against Praxis Mutual Fund

0.68	MIIIX	Praxis Impact Bond	Pair Corr
0.47	PFN	Pimco Income Strategy	Pair Corr
0.67	USGDX	Morgan Stanley Government	Pair Corr
0.67	ABNOX	Ab Bond Inflation	Pair Corr
0.52	HRBDX	Harbor Bond Fund	Pair Corr
0.51	UTF	Cohen And Steers	Pair Corr
0.49	SGDLX	Sprott Gold Equity	Pair Corr
0.48	VICSX	Vanguard Intermediate-ter	Pair Corr
0.46	GIOIX	Guggenheim Macro Opp	Pair Corr
0.41	DLDFX	Destinations Low Duration	Pair Corr
0.39	HTD	John Hancock Tax	Pair Corr
0.32	PCF	Putnam High Income	Pair Corr

Related Correlations Analysis

	MSTBX	GANPX	CBOEX	LTXFX	CSBCX	ABNCX	PRVBX
MSTBX		0.92	0.99	0.89	0.97	0.99	0.98	MSTBX
GANPX	0.92		0.92	0.98	0.93	0.95	0.94	GANPX
CBOEX	0.99	0.92		0.9	0.98	0.97	0.97	CBOEX
LTXFX	0.89	0.98	0.9		0.93	0.92	0.92	LTXFX
CSBCX	0.97	0.93	0.98	0.93		0.97	0.95	CSBCX
ABNCX	0.99	0.95	0.97	0.92	0.97		0.97	ABNCX
PRVBX	0.98	0.94	0.97	0.92	0.95	0.97		PRVBX
	MSTBX	GANPX	CBOEX	LTXFX	CSBCX	ABNCX	PRVBX

Click cells to compare fundamentals

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Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Praxis Mutual Fund performing well and Praxis Growth 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 Growth'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MSTBX	0.11	0.02	0.51	3.47	0.00	(0.15)	0.21	(0.21)	0.62
GANPX	0.06	0.00	0.42	0.03	0.00	(0.12)	0.10	(0.10)	0.48
CBOEX	0.17	0.02	0.39	0.64	0.07	(0.21)	0.33	(0.24)	0.98
LTXFX	0.10	0.00	0.32	(0.10)	0.11	(0.14)	0.26	(0.20)	0.65
CSBCX	0.22	0.02	0.28	0.38	0.20	(0.25)	0.49	(0.41)	1.42
ABNCX	0.16	0.02	0.44	0.96	0.00	(0.20)	0.30	(0.30)	0.90
PRVBX	0.10	0.01	0.68	0.24	0.00	(0.13)	0.23	(0.17)	0.53

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