Praxis Small Correlations

MMSCX Fund

USD 10.99 0.06 0.55%

The current 90-days correlation between Praxis Small Cap and Tiaa Cref Lifestyle Moderate is 0.34 (i.e., 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

Average diversification

The correlation between Praxis Small Cap and DJI is 0.15 (i.e., Average 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 main economic indicators.

Moving together with Praxis Mutual Fund

0.93	MMSIX	Praxis Small Cap	Pair Corr
0.71	MBAPX	Praxis Genesis Balanced	Pair Corr
0.64	MVIAX	Praxis Value Index	Pair Corr
0.78	MGAFX	Praxis Genesis Growth	Pair Corr
0.91	VSMAX	Vanguard Small Cap	Pair Corr
0.91	VSCIX	Vanguard Small Cap	Pair Corr
0.91	VSCPX	Vanguard Small Cap	Pair Corr
0.91	NAESX	Vanguard Small Cap	Pair Corr
0.99	FSSNX	Fidelity Small Cap	Pair Corr
0.93	DFSTX	Us Small Cap	Pair Corr
0.7	PASVX	T Rowe Price	Pair Corr
0.7	PRVIX	T Rowe Price	Pair Corr
0.71	TRZVX	T Rowe Price	Pair Corr
0.78	PRSVX	T Rowe Price	Pair Corr
0.65	WARCX	Wells Fargo Advantage	Pair Corr
0.62	EFCAX	Emerald Insights	Pair Corr

Moving against Praxis Mutual Fund

0.44	GAAKX	Gmo Alternative Allo	Pair Corr
0.44	GAAGX	Gmo Alternative Allo	Pair Corr

Related Correlations Analysis

	TSMLX	WBRMEX	TSIMX	WMBFX	JLMOX	TDIFX
TSMLX		0.79	1.0	0.88	0.99	0.97	TSMLX
WBRMEX	0.79		0.79	0.66	0.83	0.77	WBRMEX
TSIMX	1.0	0.79		0.88	0.99	0.97	TSIMX
WMBFX	0.88	0.66	0.88		0.86	0.85	WMBFX
JLMOX	0.99	0.83	0.99	0.86		0.98	JLMOX
TDIFX	0.97	0.77	0.97	0.85	0.98		TDIFX
	TSMLX	WBRMEX	TSIMX	WMBFX	JLMOX	TDIFX

Click cells to compare fundamentals

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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
TSMLX	0.35	(0.03)	0.00	(0.12)	0.00	0.00	0.60	(0.67)	2.67
WBRMEX	0.70	0.02	0.01	0.07	0.96	(0.70)	1.45	(1.19)	7.98
TSIMX	0.35	(0.03)	0.00	(0.12)	0.00	0.00	0.60	(0.74)	2.47
WMBFX	0.33	(0.02)	0.00	(0.49)	0.00	0.00	0.59	(0.68)	2.72
JLMOX	0.29	(0.03)	0.00	(0.12)	0.00	0.00	0.64	(0.64)	2.20
TDIFX	0.16	(0.02)	0.00	(0.23)	0.00	0.00	0.35	(0.43)	1.30

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