Praxis Value Correlations

MVIIX Fund

USD 19.69 0.05 0.25%

The current 90-days correlation between Praxis Value Index and Pace Large Value is 0.92 (i.e., Almost no 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

Almost no diversification

The correlation between Praxis Value Index and DJI is 0.9 (i.e., Almost no 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

0.82	MMDEX	Praxis Growth Index	Pair Corr
0.94	MMSCX	Praxis Small Cap	Pair Corr
0.94	MMSIX	Praxis Small Cap	Pair Corr
0.73	MBAPX	Praxis Genesis Balanced	Pair Corr
1.0	MVIAX	Praxis Value Index	Pair Corr
0.87	MGAFX	Praxis Genesis Growth	Pair Corr
0.82	MGNDX	Praxis Growth Index	Pair Corr
0.93	VVIAX	Vanguard Value Index	Pair Corr
0.92	DOXGX	Dodge Cox Stock	Pair Corr
0.9	AFMFX	American Mutual	Pair Corr
0.83	FFMMX	American Funds American	Pair Corr
0.83	FFFMX	American Funds American	Pair Corr
0.89	AMRMX	American Mutual	Pair Corr
0.82	AMFFX	American Mutual	Pair Corr
0.81	AMFCX	American Mutual	Pair Corr
0.95	DODGX	Dodge Stock Fund	Pair Corr
0.98	VIVAX	Vanguard Value Index	Pair Corr
0.84	FLCNX	Fidelity Contrafund	Pair Corr
0.97	JHEIX	Equity Income	Pair Corr
0.93	VWNEX	Vanguard Windsor	Pair Corr
0.83	FCNTX	Fidelity Contrafund	Pair Corr
0.87	CRF	Cornerstone Strategic	Pair Corr
0.8	FGB	First Trust Specialty	Pair Corr
0.94	MLUFX	Massmutual Select Mid	Pair Corr

Moving against Praxis Mutual Fund

0.51	MIIIX	Praxis Impact Bond	Pair Corr
0.48	MIIAX	Praxis Impact Bond	Pair Corr
0.39	MPLAX	Praxis International	Pair Corr
0.38	MPLIX	Praxis International	Pair Corr

Related Correlations Analysis

	PCLVX	GMLVX	VAAGX	MTCGX	ALCEX	LMUSX	TWQZX
PCLVX		-0.09	0.95	0.89	0.96	0.93	0.93	PCLVX
GMLVX	-0.09		-0.13	-0.01	-0.14	-0.13	-0.04	GMLVX
VAAGX	0.95	-0.13		0.8	0.91	0.85	0.91	VAAGX
MTCGX	0.89	-0.01	0.8		0.88	0.92	0.86	MTCGX
ALCEX	0.96	-0.14	0.91	0.88		0.96	0.97	ALCEX
LMUSX	0.93	-0.13	0.85	0.92	0.96		0.93	LMUSX
TWQZX	0.93	-0.04	0.91	0.86	0.97	0.93		TWQZX
	PCLVX	GMLVX	VAAGX	MTCGX	ALCEX	LMUSX	TWQZX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

TWQZX	+ 0.97	ALCEX
ALCEX	+ 0.96	PCLVX
LMUSX	+ 0.96	ALCEX
VAAGX	+ 0.95	PCLVX
LMUSX	+ 0.93	PCLVX
TWQZX	+ 0.93	PCLVX

High negative correlations

ALCEX	- 0.14	GMLVX
LMUSX	- 0.13	GMLVX
VAAGX	- 0.13	GMLVX
GMLVX	- 0.09	PCLVX
TWQZX	- 0.04	GMLVX
MTCGX	- 0.01	GMLVX

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
PCLVX	0.46	0.00	(0.05)	0.12	0.22	(0.59)	1.01	(0.71)	3.99
GMLVX	0.67	0.04	(0.05)	0.26	0.75	(0.75)	1.50	(1.56)	4.86
VAAGX	0.49	(0.05)	(0.14)	0.05	0.44	(0.61)	1.06	(0.90)	3.29
MTCGX	0.78	0.09	0.06	0.22	0.87	(0.80)	1.66	(1.36)	6.07
ALCEX	0.58	0.11	0.02	0.92	0.36	(0.75)	1.28	(0.84)	5.99
LMUSX	0.53	0.19	0.13	1.39	0.34	(0.67)	1.28	(1.02)	4.08
TWQZX	0.45	0.06	(0.10)	0.62	0.27	(0.56)	1.16	(0.66)	3.48

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