Praxis Impact Correlations

MIIIX Fund

USD 9.29 0.01 0.11%

The current 90-days correlation between Praxis Impact Bond and Inflation Adjusted Bond Fund is 0.88 (i.e., Very poor 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

Modest diversification

The correlation between Praxis Impact Bond and DJI is 0.23 (i.e., Modest 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

0.65	MMSCX	Praxis Small Cap	Pair Corr
0.64	MMSIX	Praxis Small Cap	Pair Corr
0.76	MPLAX	Praxis International	Pair Corr
0.76	MPLIX	Praxis International	Pair Corr
0.87	MBAPX	Praxis Genesis Balanced	Pair Corr
0.86	MCONX	Praxis Genesis Servative	Pair Corr
0.72	MVIIX	Praxis Value Index	Pair Corr
0.72	MVIAX	Praxis Value Index	Pair Corr
0.85	MGAFX	Praxis Genesis Growth	Pair Corr
0.99	MIIAX	Praxis Impact Bond	Pair Corr
0.89	VBTLX	Vanguard Total Bond	Pair Corr
0.99	VBMFX	Vanguard Total Bond	Pair Corr
0.99	VBTIX	Vanguard Total Bond	Pair Corr
0.99	VTBSX	Vanguard Total Bond	Pair Corr
0.99	VTBIX	Vanguard Total Bond	Pair Corr
0.99	VTBNX	Vanguard Total Bond	Pair Corr
0.88	FBOFX	American Funds	Pair Corr
0.98	FFBOX	American Funds	Pair Corr
0.99	BFAFX	Bond Fund	Pair Corr
0.99	ABNDX	Bond Fund	Pair Corr
0.99	GPBFX	Gmo E Plus	Pair Corr
0.86	WARCX	Wells Fargo Advantage	Pair Corr
0.78	SIRZX	Sierra E Retirement	Pair Corr

Moving against PRAXIS Mutual Fund

0.49	PQTAX	Pimco Trends Managed	Pair Corr
0.49	PQTNX	Pimco Trends Managed	Pair Corr
0.49	PQTIX	Aa Pimco Tr	Pair Corr
0.42	GPMFX	Guidepath Managed Futures	Pair Corr
0.32	GSMHX	Gmo Sgm Major	Pair Corr
0.32	GSMFX	Gmo Sgm Major	Pair Corr

Related Correlations Analysis

	ACITX	TWTCX	MSTBX	TTRBX	ABNTX	ARTFX	DHGCX	RULFX
ACITX		0.71	0.28	0.73	0.87	0.06	0.62	-0.32	ACITX
TWTCX	0.71		0.43	0.8	0.61	0.33	0.85	-0.07	TWTCX
MSTBX	0.28	0.43		0.73	0.61	0.85	0.67	0.7	MSTBX
TTRBX	0.73	0.8	0.73		0.82	0.55	0.88	0.27	TTRBX
ABNTX	0.87	0.61	0.61	0.82		0.43	0.66	0.12	ABNTX
ARTFX	0.06	0.33	0.85	0.55	0.43		0.48	0.84	ARTFX
DHGCX	0.62	0.85	0.67	0.88	0.66	0.48		0.16	DHGCX
RULFX	-0.32	-0.07	0.7	0.27	0.12	0.84	0.16		RULFX
	ACITX	TWTCX	MSTBX	TTRBX	ABNTX	ARTFX	DHGCX	RULFX

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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

DHGCX	+ 0.88	TTRBX
ABNTX	+ 0.87	ACITX
DHGCX	+ 0.85	TWTCX
ARTFX	+ 0.85	MSTBX
RULFX	+ 0.84	ARTFX
ABNTX	+ 0.82	TTRBX

High negative correlations

RULFX	- 0.32	ACITX
RULFX	- 0.07	TWTCX

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
ACITX	0.19	(0.02)	0.00	(0.18)	0.00	0.00	0.38	(0.48)	1.15
TWTCX	0.15	0.00	(0.27)	(0.04)	0.20	(0.19)	0.28	(0.28)	1.31
MSTBX	0.10	0.00	(0.55)	0.00	0.03	(0.15)	0.21	(0.21)	0.62
TTRBX	0.15	(0.01)	(0.48)	(0.11)	0.14	(0.20)	0.41	(0.30)	1.01
ABNTX	0.13	(0.01)	(0.45)	(0.16)	0.15	(0.17)	0.30	(0.30)	0.79
ARTFX	0.11	0.02	(0.31)	(11.49)	0.00	(0.18)	0.44	(0.22)	1.10
DHGCX	0.15	(0.01)	(0.50)	(0.06)	0.14	(0.21)	0.36	(0.26)	0.94
RULFX	0.05	0.01	(0.73)	4.06	0.00	(0.17)	0.10	(0.10)	0.50

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