Ave Maria Correlations

AVEAX Fund

USD 15.32 0.13 0.84%

The current 90-days correlation between Ave Maria Focused and Ave Maria World is 0.87 (i.e., Very poor diversification). The correlation of Ave Maria 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.

Ave Maria Correlation With Market

Very weak diversification

The correlation between Ave Maria Focused and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ave Maria Focused and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Ave Maria Focused. 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 nation.

Moving together with Ave Mutual Fund

0.88	AVEWX	Ave Maria World	Pair Corr
0.75	FSWFX	American Funds Smallcap	Pair Corr
0.75	FSFWX	American Funds Smallcap	Pair Corr
0.74	SCWCX	American Fds Smallcap	Pair Corr
0.74	SCWFX	Smallcap World	Pair Corr
0.75	SMCWX	Smallcap World	Pair Corr
0.75	CSPFX	Smallcap World	Pair Corr
0.75	CSPAX	Smallcap World	Pair Corr
0.74	CSPEX	Smallcap World	Pair Corr
0.74	RSLCX	Smallcap World	Pair Corr
0.75	RLLGX	Smallcap World	Pair Corr

Moving against Ave Mutual Fund

0.42	GAAGX	Gmo Alternative Allo	Pair Corr
0.41	GAAKX	Gmo Alternative Allo	Pair Corr
0.37	ABQYX	Ab Intermediate Bond	Pair Corr

Related Correlations Analysis

	AVEWX	AVEFX	AVEGX	AVEDX	AVEMX
AVEWX		-0.24	0.64	0.47	0.39	AVEWX
AVEFX	-0.24		-0.41	0.11	-0.05	AVEFX
AVEGX	0.64	-0.41		0.82	0.75	AVEGX
AVEDX	0.47	0.11	0.82		0.79	AVEDX
AVEMX	0.39	-0.05	0.75	0.79		AVEMX
	AVEWX	AVEFX	AVEGX	AVEDX	AVEMX

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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

AVEDX	+ 0.82	AVEGX
AVEMX	+ 0.79	AVEDX
AVEMX	+ 0.75	AVEGX
AVEGX	+ 0.64	AVEWX
AVEDX	+ 0.47	AVEWX
AVEMX	+ 0.39	AVEWX

High negative correlations

AVEGX	- 0.41	AVEFX
AVEFX	- 0.24	AVEWX
AVEMX	- 0.05	AVEFX

Risk-Adjusted Indicators

There is a big difference between Ave Mutual Fund performing well and Ave Maria 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 Ave Maria'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
AVEWX	0.84	(0.02)	0.00	(0.09)	0.00	0.00	1.47	(1.84)	4.00
AVEFX	0.19	0.02	0.27	0.08	0.21	(0.21)	0.33	(0.33)	1.07
AVEGX	0.94	(0.13)	0.00	(0.20)	0.00	0.00	1.67	(1.87)	9.19
AVEDX	0.79	(0.06)	0.00	(0.15)	0.00	0.00	1.19	(1.46)	7.01
AVEMX	1.04	(0.11)	0.00	0.62	0.00	0.00	1.83	(2.83)	10.01

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