Praxis Value Correlations

Mutual Funds . USA . 
Fund . Praxis Value Index
MVIAX Fund  USD 17.75  0.07  0.39%   
The current 90-days correlation between Praxis Value Index and Jhancock Diversified Macro is 0.23 (i.e., Modest 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

Very poor diversification

The correlation between Praxis Value Index 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 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 nation.

Moving together with Praxis Mutual Fund

  0.96MBAPX Praxis Genesis BalancedPairCorr
  0.65MCONX Praxis Genesis ServativePairCorr
  1.0MVIIX Praxis Value IndexPairCorr
  0.91MGAFX Praxis Genesis GrowthPairCorr
  0.99VVIAX Vanguard Value IndexPairCorr
  0.87DOXGX Dodge Cox StockPairCorr
  0.93AFMFX American MutualPairCorr
  0.97FFMMX American Funds AmericanPairCorr
  0.97FFFMX American Funds AmericanPairCorr
  0.97AMRMX American MutualPairCorr
  0.97AMFFX American MutualPairCorr
  0.97AMFCX American MutualPairCorr
  0.96DODGX Dodge Stock FundPairCorr
  0.99VIVAX Vanguard Value IndexPairCorr
  0.66INPIX Internet UltrasectorPairCorr
  0.66INPSX Internet UltrasectorPairCorr
  0.65GAB Gabelli Equity TrustPairCorr
  0.61RGRPX American Funds RetirementPairCorr

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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