Praxis Growth Correlations

MGNDX Fund

USD 49.93 0.09 0.18%

The current 90-days correlation between Praxis Growth Index and Ab All Market is 0.36 (i.e., Weak 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

Very weak diversification

The correlation between Praxis Growth Index and DJI is 0.56 (i.e., Very weak 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
0.86	MMSCX	Praxis Small Cap	Pair Corr
0.86	MMSIX	Praxis Small Cap	Pair Corr
0.71	MBAPX	Praxis Genesis Balanced	Pair Corr
0.85	MVIIX	Praxis Value Index	Pair Corr
0.84	MVIAX	Praxis Value Index	Pair Corr
0.88	MGAFX	Praxis Genesis Growth	Pair Corr
0.96	FAFGX	American Funds	Pair Corr
0.96	FFAFX	American Funds	Pair Corr
0.96	GFACX	Growth Fund	Pair Corr
0.99	GFAFX	Growth Fund	Pair Corr
0.99	AGTHX	Growth Fund	Pair Corr
0.99	CGFFX	Growth Fund	Pair Corr
0.96	CGFCX	Growth Fund	Pair Corr
0.96	CGFAX	Growth Fund	Pair Corr
0.99	CGFEX	Growth Fund	Pair Corr
0.99	RGAEX	Growth Fund	Pair Corr
0.98	VTSAX	Vanguard Total Stock	Pair Corr
0.96	VFIAX	Vanguard 500 Index	Pair Corr
0.98	VTSMX	Vanguard Total Stock	Pair Corr
0.98	VSMPX	Vanguard Total Stock	Pair Corr
0.98	VSTSX	Vanguard Total Stock	Pair Corr
0.96	VITSX	Vanguard Total Stock	Pair Corr
0.96	VFINX	Vanguard 500 Index	Pair Corr
0.98	VFFSX	Vanguard 500 Index	Pair Corr
0.83	JHEIX	Equity Income	Pair Corr
0.71	EOD	Allspring Global Dividend	Pair Corr
0.8	NEXTX	Shelton Green Alpha	Pair Corr
0.91	VAADX	Virtus Convertible	Pair Corr
0.95	DFMAX	Davidson Multi Cap	Pair Corr
0.84	FGB	First Trust Specialty	Pair Corr
0.91	VWNEX	Vanguard Windsor	Pair Corr

Moving against Praxis Mutual Fund

0.66	MIIIX	Praxis Impact Bond	Pair Corr
0.62	MIIAX	Praxis Impact Bond	Pair Corr

Related Correlations Analysis

	AMTOX	EPASX	QLENX	APDOX	USMIX	KMKCX	REMVX	SMQFX
AMTOX		0.63	-0.08	0.38	0.15	0.0	0.66	0.72	AMTOX
EPASX	0.63		-0.42	0.24	-0.26	-0.34	0.98	0.92	EPASX
QLENX	-0.08	-0.42		0.64	0.91	0.9	-0.4	-0.14	QLENX
APDOX	0.38	0.24	0.64		0.73	0.72	0.23	0.49	APDOX
USMIX	0.15	-0.26	0.91	0.73		0.93	-0.24	0.03	USMIX
KMKCX	0.0	-0.34	0.9	0.72	0.93		-0.35	-0.09	KMKCX
REMVX	0.66	0.98	-0.4	0.23	-0.24	-0.35		0.95	REMVX
SMQFX	0.72	0.92	-0.14	0.49	0.03	-0.09	0.95		SMQFX
	AMTOX	EPASX	QLENX	APDOX	USMIX	KMKCX	REMVX	SMQFX

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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

REMVX	+ 0.98	EPASX
SMQFX	+ 0.95	REMVX
KMKCX	+ 0.93	USMIX
SMQFX	+ 0.92	EPASX
USMIX	+ 0.91	QLENX
KMKCX	+ 0.9	QLENX

High negative correlations

QLENX	- 0.42	EPASX
REMVX	- 0.4	QLENX
REMVX	- 0.35	KMKCX
KMKCX	- 0.34	EPASX
USMIX	- 0.26	EPASX
REMVX	- 0.24	USMIX

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
AMTOX	0.45	(0.02)	(0.16)	0.03	0.57	(0.53)	1.00	(1.07)	3.35
EPASX	0.70	0.07	(0.05)	(0.70)	0.97	(0.73)	1.52	(1.67)	6.54
QLENX	0.37	0.11	(0.02)	(7.55)	0.23	(0.45)	0.84	(0.57)	2.17
APDOX	0.15	0.03	(0.36)	2.47	0.00	(0.20)	0.39	(0.19)	1.45
USMIX	0.72	0.04	0.09	0.15	0.56	(0.85)	1.71	(1.24)	5.72
KMKCX	1.58	0.51	0.21	0.61	1.82	(1.73)	3.82	(2.69)	15.50
REMVX	0.83	0.09	(0.03)	(1.23)	1.03	(0.90)	1.74	(1.98)	6.85
SMQFX	0.55	0.08	(0.04)	8.35	0.63	(0.59)	1.27	(1.18)	3.52

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