Praxis Small Correlations

MMSIX Fund

USD 13.00 0.07 0.54%

The current 90-days correlation between Praxis Small Cap and Praxis Growth Index is 0.46 (i.e., Very weak diversification). The correlation of Praxis Small 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 Small Correlation With Market

Very poor diversification

The correlation between Praxis Small Cap and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Praxis Small Cap 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 Small Cap. 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

0.86	MMDEX	Praxis Growth Index	Pair Corr
1.0	MMSCX	Praxis Small Cap	Pair Corr
0.77	MBAPX	Praxis Genesis Balanced	Pair Corr
0.94	MVIIX	Praxis Value Index	Pair Corr
0.94	MVIAX	Praxis Value Index	Pair Corr
0.89	MGAFX	Praxis Genesis Growth	Pair Corr
0.86	MGNDX	Praxis Growth Index	Pair Corr
0.94	VSMAX	Vanguard Small Cap	Pair Corr
0.94	VSCIX	Vanguard Small Cap	Pair Corr
0.98	VSCPX	Vanguard Small Cap	Pair Corr
0.98	NAESX	Vanguard Small Cap	Pair Corr
0.95	FSSNX	Fidelity Small Cap	Pair Corr
0.95	DFSTX	Us Small Cap	Pair Corr
0.99	PASVX	T Rowe Price	Pair Corr
0.95	PRVIX	T Rowe Price	Pair Corr
0.99	TRZVX	T Rowe Price	Pair Corr
0.99	PRSVX	T Rowe Price	Pair Corr
0.87	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.87	RYVLX	Nasdaq 100 2x Steady Growth	Pair Corr
0.83	RYVYX	Nasdaq 100 2x	Pair Corr
0.86	UOPIX	Ultra Nasdaq 100	Pair Corr
0.87	RYCCX	Nasdaq 100 2x	Pair Corr
0.87	UOPSX	Ultranasdaq 100 Profund Steady Growth	Pair Corr
0.9	INPIX	Internet Ultrasector	Pair Corr
0.9	INPSX	Internet Ultrasector Steady Growth	Pair Corr
0.82	FGB	First Trust Specialty	Pair Corr
0.91	AMGOX	Alger Mid Cap	Pair Corr
0.89	FZROX	Fidelity Zero Total	Pair Corr
0.9	ELFNX	Elfun Trusts Elfun	Pair Corr
0.87	VFIAX	Vanguard 500 Index	Pair Corr

Moving against Praxis Mutual Fund

0.47	MIIIX	Praxis Impact Bond	Pair Corr
0.43	MIIAX	Praxis Impact Bond	Pair Corr
0.42	MPLAX	Praxis International	Pair Corr
0.4	MPLIX	Praxis International	Pair Corr

Related Correlations Analysis

	MMDEX	MMSCX	MMSIX	MPLAX	MCONX	MVIIX	MGAFX	MGNDX	MIIIX	MIIAX
MMDEX		0.86	0.86	-0.3	-0.11	0.82	0.87	1.0	-0.64	-0.6	MMDEX
MMSCX	0.86		1.0	-0.41	0.04	0.94	0.89	0.86	-0.47	-0.43	MMSCX
MMSIX	0.86	1.0		-0.42	0.04	0.94	0.89	0.86	-0.47	-0.43	MMSIX
MPLAX	-0.3	-0.41	-0.42		0.58	-0.39	0.0	-0.3	0.54	0.53	MPLAX
MCONX	-0.11	0.04	0.04	0.58		-0.01	0.31	-0.11	0.82	0.84	MCONX
MVIIX	0.82	0.94	0.94	-0.39	-0.01		0.87	0.82	-0.51	-0.48	MVIIX
MGAFX	0.87	0.89	0.89	0.0	0.31	0.87		0.87	-0.29	-0.25	MGAFX
MGNDX	1.0	0.86	0.86	-0.3	-0.11	0.82	0.87		-0.64	-0.6	MGNDX
MIIIX	-0.64	-0.47	-0.47	0.54	0.82	-0.51	-0.29	-0.64		1.0	MIIIX
MIIAX	-0.6	-0.43	-0.43	0.53	0.84	-0.48	-0.25	-0.6	1.0		MIIAX
	MMDEX	MMSCX	MMSIX	MPLAX	MCONX	MVIIX	MGAFX	MGNDX	MIIIX	MIIAX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

MGNDX	+ 1.0	MMDEX
MMSIX	+ 1.0	MMSCX
MIIAX	+ 1.0	MIIIX
MVIIX	+ 0.94	MMSCX
MVIIX	+ 0.94	MMSIX
MGAFX	+ 0.89	MMSCX

High negative correlations

MIIIX	- 0.64	MGNDX
MIIIX	- 0.64	MMDEX
MIIAX	- 0.6	MGNDX
MIIAX	- 0.6	MMDEX
MIIIX	- 0.51	MVIIX
MIIAX	- 0.48	MVIIX

Risk-Adjusted Indicators

There is a big difference between Praxis Mutual Fund performing well and Praxis Small 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 Small'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
MMDEX	0.66	0.13	0.10	0.30	0.59	(0.73)	1.66	(1.37)	5.19
MMSCX	0.86	0.02	0.07	0.13	0.70	(0.97)	1.96	(1.46)	7.49
MMSIX	0.86	0.02	0.07	0.13	0.68	(1.00)	2.00	(1.45)	7.39
MPLAX	0.60	(0.01)	(0.11)	0.08	0.75	(0.60)	1.38	(1.24)	3.95
MCONX	0.22	(0.02)	(0.40)	(0.01)	0.24	(0.26)	0.49	(0.49)	1.39
MVIIX	0.46	(0.03)	(0.14)	0.07	0.35	(0.56)	0.99	(0.72)	3.23
MGAFX	0.40	0.01	(0.07)	0.13	0.33	(0.47)	0.86	(0.70)	2.74
MGNDX	0.66	0.13	0.10	0.30	0.59	(0.73)	1.66	(1.39)	5.18
MIIIX	0.21	(0.04)	0.00	2.05	0.00	0.00	0.43	(0.63)	1.39
MIIAX	0.23	(0.04)	0.00	1.83	0.00	0.00	0.42	(0.53)	1.28

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC