Praxis Value Correlations

MVIIX Fund

USD 18.18 0.15 0.82%

The current 90-days correlation between Praxis Value Index and Federated Hermes Conservative is -0.07 (i.e., Good 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 weak diversification

The correlation between Praxis Value Index and DJI is 0.45 (i.e., Very weak 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

0.83	MMSCX	Praxis Small Cap	Pair Corr
0.83	MMSIX	Praxis Small Cap	Pair Corr
0.95	MBAPX	Praxis Genesis Balanced	Pair Corr
0.96	MCONX	Praxis Genesis Servative	Pair Corr
1.0	MVIAX	Praxis Value Index	Pair Corr
0.91	MGAFX	Praxis Genesis Growth	Pair Corr
0.64	MIIIX	Praxis Impact Bond	Pair Corr
0.64	MIIAX	Praxis Impact Bond	Pair Corr
0.75	VVIAX	Vanguard Value Index	Pair Corr
0.93	AFMFX	American Mutual	Pair Corr
0.93	FFMMX	American Funds American	Pair Corr
0.93	FFFMX	American Funds American	Pair Corr
0.93	AMRMX	American Mutual	Pair Corr
0.9	AMFFX	American Mutual	Pair Corr
0.9	AMFCX	American Mutual	Pair Corr
0.93	DODGX	Dodge Stock Fund	Pair Corr
0.76	VIVAX	Vanguard Value Index	Pair Corr
0.69	BIPIX	Biotechnology Ultrasector	Pair Corr

Related Correlations Analysis

	FHCOX	CAARX	PGBAX	SRDAX	CDBCX	GPICX	BICPX
FHCOX		0.24	0.53	0.7	0.06	0.95	0.3	FHCOX
CAARX	0.24		0.93	-0.24	0.85	0.33	0.94	CAARX
PGBAX	0.53	0.93		0.03	0.78	0.6	0.89	PGBAX
SRDAX	0.7	-0.24	0.03		-0.48	0.63	-0.23	SRDAX
CDBCX	0.06	0.85	0.78	-0.48		0.14	0.88	CDBCX
GPICX	0.95	0.33	0.6	0.63	0.14		0.39	GPICX
BICPX	0.3	0.94	0.89	-0.23	0.88	0.39		BICPX
	FHCOX	CAARX	PGBAX	SRDAX	CDBCX	GPICX	BICPX

Click cells to compare fundamentals

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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

GPICX	+ 0.95	FHCOX
BICPX	+ 0.94	CAARX
PGBAX	+ 0.93	CAARX
BICPX	+ 0.89	PGBAX
BICPX	+ 0.88	CDBCX
CDBCX	+ 0.85	CAARX

High negative correlations

CDBCX	- 0.48	SRDAX
SRDAX	- 0.24	CAARX
BICPX	- 0.23	SRDAX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FHCOX	0.05	0.01	0.00	(0.80)	0.00	0.00	0.10	(0.10)	0.50
CAARX	0.28	0.01	0.20	(0.19)	0.35	(0.29)	0.67	(0.49)	2.05
PGBAX	0.15	0.01	0.42	(0.43)	0.00	(0.19)	0.34	(0.25)	0.93
SRDAX	0.14	0.01	0.27	0.43	0.11	(0.19)	0.29	(0.37)	0.95
CDBCX	0.25	0.03	0.27	0.33	0.18	(0.32)	0.66	(0.44)	1.55
GPICX	0.03	0.01	0.00	0.69	0.00	0.00	0.10	0.00	0.21
BICPX	0.24	0.03	0.21	0.12	0.24	(0.32)	0.63	(0.45)	1.80

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