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

  0.83MMSCX Praxis Small CapPairCorr
  0.83MMSIX Praxis Small CapPairCorr
  0.95MBAPX Praxis Genesis BalancedPairCorr
  0.96MCONX Praxis Genesis ServativePairCorr
  1.0MVIAX Praxis Value IndexPairCorr
  0.91MGAFX Praxis Genesis GrowthPairCorr
  0.64MIIIX Praxis Impact BondPairCorr
  0.64MIIAX Praxis Impact BondPairCorr
  0.75VVIAX Vanguard Value IndexPairCorr
  0.93AFMFX American MutualPairCorr
  0.93FFMMX American Funds AmericanPairCorr
  0.93FFFMX American Funds AmericanPairCorr
  0.93AMRMX American MutualPairCorr
  0.9AMFFX American MutualPairCorr
  0.9AMFCX American MutualPairCorr
  0.93DODGX Dodge Stock FundPairCorr
  0.76VIVAX Vanguard Value IndexPairCorr
  0.69BIPIX Biotechnology UltrasectorPairCorr

Related Correlations Analysis

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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   
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High negative correlations   
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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.