Praxis Small Correlations

MMSIX Fund

USD 11.13 0.11 0.98%

The current 90-days correlation between Praxis Small Cap and Goldman Sachs Government is 0.05 (i.e., Significant diversification). The correlation of Praxis Small 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 Small Correlation With Market

Very poor diversification

The correlation between Praxis Small Cap and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Praxis Small Cap 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 Small Cap. 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

0.95	MMDEX	Praxis Growth Index	Pair Corr
1.0	MMSCX	Praxis Small Cap	Pair Corr
0.73	MGAFX	Praxis Genesis Growth	Pair Corr
1.0	VSMAX	Vanguard Small Cap	Pair Corr
1.0	VSCIX	Vanguard Small Cap	Pair Corr
1.0	VSCPX	Vanguard Small Cap	Pair Corr
1.0	NAESX	Vanguard Small Cap	Pair Corr
0.99	FSSNX	Fidelity Small Cap	Pair Corr
1.0	DFSTX	Us Small Cap	Pair Corr
0.99	PRVIX	T Rowe Price	Pair Corr
0.99	TRZVX	T Rowe Price	Pair Corr
0.99	PRSVX	T Rowe Price	Pair Corr
0.78	WHIYX	Ivy High Income	Pair Corr
0.73	IVHIX	Ivy High Income	Pair Corr
0.73	IHIFX	Ivy High Income	Pair Corr
0.8	WRHIX	Ivy High Income	Pair Corr
0.77	WHIAX	Ivy High Income	Pair Corr

Moving against Praxis Mutual Fund

0.69	MIIIX	Praxis Impact Bond	Pair Corr
0.53	MIIAX	Praxis Impact Bond	Pair Corr
0.41	MCONX	Praxis Genesis Servative	Pair Corr
0.33	MPLIX	Praxis International	Pair Corr
0.31	MPLAX	Praxis International	Pair Corr
0.56	FRSTX	Franklin Strategic Income	Pair Corr
0.52	MRBKX	Mfs Total Return	Pair Corr
0.52	MIAAX	Mfs Inflation Adjusted	Pair Corr
0.46	FIQZX	Fidelity Intermediate	Pair Corr
0.46	PDI	Pimco Dynamic Income	Pair Corr
0.44	WRPIX	Wells Fargo Alternative	Pair Corr
0.37	ATPAAX	Atpaax	Pair Corr

Related Correlations Analysis

	GGTPX	RFBAX	FHNFX	RGVAX	PYUSX
GGTPX		0.72	1.0	0.9	0.96	GGTPX
RFBAX	0.72		0.69	0.9	0.67	RFBAX
FHNFX	1.0	0.69		0.88	0.97	FHNFX
RGVAX	0.9	0.9	0.88		0.86	RGVAX
PYUSX	0.96	0.67	0.97	0.86		PYUSX
	GGTPX	RFBAX	FHNFX	RGVAX	PYUSX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Praxis Mutual Fund performing well and Praxis Small 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 Small'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
GGTPX	0.24	0.04	0.42	1.11	0.15	(0.29)	0.62	(0.47)	1.34
RFBAX	0.09	0.01	0.52	3.02	0.00	(0.24)	0.20	(0.20)	0.59
FHNFX	0.23	0.04	0.45	1.98	0.12	(0.27)	0.56	(0.43)	1.23
RGVAX	0.25	0.01	0.29	0.09	0.27	(0.31)	0.60	(0.43)	1.56
PYUSX	0.13	0.00	0.74	0.00	0.00	(0.18)	0.32	(0.21)	0.74

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