Praxis Impact Correlations

MIIIX Fund

USD 9.36 0.04 0.43%

The current 90-days correlation between Praxis Impact Bond and Transamerica Cleartrack Retirement is 0.48 (i.e., Very weak diversification). The correlation of Praxis Impact 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 Impact Correlation With Market

Good diversification

The correlation between Praxis Impact Bond and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Praxis Impact Bond 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 Impact Bond. 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

0.82	MCONX	Praxis Genesis Servative	Pair Corr
1.0	MIIAX	Praxis Impact Bond	Pair Corr
0.96	VBTLX	Vanguard Total Bond	Pair Corr
1.0	VBMFX	Vanguard Total Bond	Pair Corr
1.0	VBTIX	Vanguard Total Bond	Pair Corr
1.0	VTBSX	Vanguard Total Bond	Pair Corr
1.0	VTBIX	Vanguard Total Bond	Pair Corr
0.99	VTBNX	Vanguard Total Bond	Pair Corr
1.0	BFAFX	Bond Fund	Pair Corr
1.0	ABNDX	Bond Fund	Pair Corr
0.99	BFACX	Bond Fund	Pair Corr
0.96	FFBOX	American Funds	Pair Corr
0.64	USPSX	Profunds Ultrashort	Pair Corr
0.64	USPIX	Profunds Ultrashort	Pair Corr
0.71	VEMBX	Vanguard Emerging Markets	Pair Corr

Moving against Praxis Mutual Fund

0.64	MMDEX	Praxis Growth Index	Pair Corr
0.64	MGNDX	Praxis Growth Index	Pair Corr
0.51	MVIIX	Praxis Value Index	Pair Corr
0.51	MVIAX	Praxis Value Index	Pair Corr
0.47	MMSCX	Praxis Small Cap	Pair Corr
0.47	MMSIX	Praxis Small Cap	Pair Corr
0.85	PYAIX	Payden Absolute Return	Pair Corr
0.81	FTCAX	Templeton Strained Bond	Pair Corr
0.76	PYARX	Payden Absolute Return	Pair Corr
0.69	FCNTX	Fidelity Contrafund	Pair Corr
0.64	RNGHX	New Economy Fund	Pair Corr
0.54	DFMAX	Davidson Multi Cap	Pair Corr
0.5	BCAAX	Brandywineglobal C	Pair Corr
0.45	GVCAX	Gabelli Value	Pair Corr
0.38	NEXTX	Shelton Green Alpha	Pair Corr

Related Correlations Analysis

	TCTZX	SAWMX	TWSMX	FRTCX	CMATX	SCGCX
TCTZX		0.71	0.81	0.98	0.87	0.75	TCTZX
SAWMX	0.71		0.93	0.7	0.88	0.89	SAWMX
TWSMX	0.81	0.93		0.78	0.95	0.94	TWSMX
FRTCX	0.98	0.7	0.78		0.84	0.71	FRTCX
CMATX	0.87	0.88	0.95	0.84		0.96	CMATX
SCGCX	0.75	0.89	0.94	0.71	0.96		SCGCX
	TCTZX	SAWMX	TWSMX	FRTCX	CMATX	SCGCX

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 Impact 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 Impact'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
TCTZX	0.24	0.00	(0.24)	0.12	0.21	(0.27)	0.60	(0.48)	1.33
SAWMX	0.30	0.04	(0.20)	0.70	0.16	(0.42)	0.67	(0.49)	1.80
TWSMX	0.33	0.05	(0.10)	0.65	0.25	(0.41)	0.74	(0.59)	1.95
FRTCX	0.20	0.00	(0.32)	0.11	0.14	(0.24)	0.38	(0.38)	1.14
CMATX	0.33	0.01	(0.13)	0.14	0.16	(0.48)	0.97	(0.62)	2.20
SCGCX	0.39	0.03	(0.04)	0.18	0.23	(0.48)	0.87	(0.71)	2.67

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