Praxis Small Correlations

MMSIX Fund

USD 12.61 0.16 1.25%

The current 90-days correlation between Praxis Small Cap and Praxis Genesis Growth is -0.21 (i.e., Very good 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

Almost no diversification

The correlation between Praxis Small Cap and DJI is 0.91 (i.e., Almost no 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

0.98	MMSCX	Praxis Small Cap	Pair Corr
0.87	MPLAX	Praxis International	Pair Corr
0.87	MPLIX	Praxis International	Pair Corr
0.87	MBAPX	Praxis Genesis Balanced	Pair Corr
0.81	MCONX	Praxis Genesis Servative	Pair Corr
0.86	MVIIX	Praxis Value Index	Pair Corr
0.86	MVIAX	Praxis Value Index	Pair Corr
0.87	MGAFX	Praxis Genesis Growth	Pair Corr
0.92	VSMAX	Vanguard Small Cap	Pair Corr
0.92	VSCIX	Vanguard Small Cap	Pair Corr
0.92	VSCPX	Vanguard Small Cap	Pair Corr
0.92	NAESX	Vanguard Small Cap	Pair Corr
0.87	FSSNX	Fidelity Small Cap	Pair Corr
0.9	DFSTX	Us Small Cap	Pair Corr
0.9	FTHSX	Fuller Thaler Behavioral	Pair Corr
0.9	FTHNX	Fuller Thaler Behavioral	Pair Corr
0.97	PASVX	T Rowe Price	Pair Corr
0.96	PRVIX	T Rowe Price	Pair Corr
0.66	PFN	Pimco Income Strategy	Pair Corr
0.85	ITHVX	Hartford Capital	Pair Corr
0.78	TILWX	Tiaa-cref Large-cap	Pair Corr
0.88	AOUIX	Angel Oak Ultrashort	Pair Corr
0.95	VDSYX	Victory Diversified Stock	Pair Corr
0.91	STBKX	Sierra Tactical Bond	Pair Corr
0.87	CADPX	Columbia Global Dividend	Pair Corr
0.86	SMAIX	Ultra Short Term	Pair Corr
0.84	PRJBX	Pgim Jennison Global	Pair Corr
0.9	VSSPX	Voya Solution 2060	Pair Corr

Related Correlations Analysis

	MMDEX	MMSCX	MMSIX	MPLAX	MPLIX	MBAPX	MCONX	MVIIX	MVIAX	MGAFX
MMDEX		0.23	0.23	-0.12	-0.12	-0.04	-0.14	-0.2	-0.19	-0.01	MMDEX
MMSCX	0.23		0.98	0.88	0.87	0.88	0.83	0.84	0.86	0.89	MMSCX
MMSIX	0.23	0.98		0.87	0.87	0.87	0.81	0.86	0.86	0.87	MMSIX
MPLAX	-0.12	0.88	0.87		0.99	0.98	0.98	0.96	0.97	0.98	MPLAX
MPLIX	-0.12	0.87	0.87	0.99		0.96	0.96	0.97	0.96	0.96	MPLIX
MBAPX	-0.04	0.88	0.87	0.98	0.96		0.98	0.94	0.96	1.0	MBAPX
MCONX	-0.14	0.83	0.81	0.98	0.96	0.98		0.94	0.96	0.97	MCONX
MVIIX	-0.2	0.84	0.86	0.96	0.97	0.94	0.94		0.98	0.93	MVIIX
MVIAX	-0.19	0.86	0.86	0.97	0.96	0.96	0.96	0.98		0.96	MVIAX
MGAFX	-0.01	0.89	0.87	0.98	0.96	1.0	0.97	0.93	0.96		MGAFX
	MMDEX	MMSCX	MMSIX	MPLAX	MPLIX	MBAPX	MCONX	MVIIX	MVIAX	MGAFX

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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

MGAFX	+ 1.0	MBAPX
MPLIX	+ 0.99	MPLAX
MMSIX	+ 0.98	MMSCX
MBAPX	+ 0.98	MPLAX
MCONX	+ 0.98	MPLAX
MGAFX	+ 0.98	MPLAX

High negative correlations

MVIIX	- 0.2	MMDEX
MVIAX	- 0.19	MMDEX
MCONX	- 0.14	MMDEX
MPLIX	- 0.12	MMDEX
MPLAX	- 0.12	MMDEX
MBAPX	- 0.04	MMDEX

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	0.76	(0.02)	(0.03)	0.05	1.01	(0.75)	1.32	(1.87)	6.62
MMSCX	0.89	0.39	0.34	(1.84)	0.24	(1.15)	2.07	(1.26)	11.04
MMSIX	0.84	0.21	0.24	0.29	0.43	(1.06)	1.94	(1.26)	9.81
MPLAX	0.54	0.24	0.25	(2.60)	0.27	(0.70)	1.13	(0.97)	3.30
MPLIX	0.53	0.17	0.24	0.37	0.25	(0.68)	1.12	(0.91)	3.23
MBAPX	0.33	0.10	0.05	(3.84)	0.13	(0.39)	0.79	(0.58)	2.04
MCONX	0.19	0.05	(0.09)	5.05	0.00	(0.24)	0.50	(0.33)	1.38
MVIIX	0.48	0.10	0.13	0.23	0.24	(0.61)	1.22	(0.92)	3.09
MVIAX	0.50	0.18	0.17	(2.34)	0.18	(0.63)	1.31	(0.91)	3.07
MGAFX	0.43	0.13	0.09	(2.72)	0.26	(0.51)	0.91	(0.76)	2.96

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