Avantis Emerging Correlations

AVEEX Fund

USD 12.07 0.05 0.41%

The correlation of Avantis Emerging 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.

Avantis Emerging Correlation With Market

Weak diversification

The correlation between Avantis Emerging Markets and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avantis Emerging Markets 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 Avantis Emerging Markets. 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 income.

Moving together with Avantis Mutual Fund

0.85	AVANX	Avantis International	Pair Corr
0.66	AVBNX	American Century Etf	Pair Corr
0.86	AVDEX	Avantis International	Pair Corr
0.91	AVDVX	Avantis International	Pair Corr
0.86	AVENX	Avantis Emerging Markets	Pair Corr
0.64	AVGNX	Avantis Short Term	Pair Corr
0.99	VEMAX	Vanguard Emerging Markets	Pair Corr
0.99	VEIEX	Vanguard Emerging Markets	Pair Corr
0.99	VEMIX	Vanguard Emerging Markets	Pair Corr
0.99	VEMRX	Vanguard Emerging Markets	Pair Corr
0.89	FWWNX	American Funds New	Pair Corr
0.89	FNFWX	American Funds New	Pair Corr
0.78	NEWFX	New World Fund	Pair Corr
0.89	NWFFX	New World Fund	Pair Corr
0.89	NEWCX	New World Fund	Pair Corr
0.97	ODVYX	Oppenheimer Developing	Pair Corr
0.85	UGPSX	Ultrachina Profund	Pair Corr
0.85	UGPIX	Ultrachina Profund	Pair Corr
0.81	PMPIX	Precious Metals Ultr	Pair Corr
0.81	PMPSX	Precious Metals Ultr	Pair Corr
0.82	SCINX	Deutsche Croci Inter	Pair Corr
0.67	SPUBX	Symmetry Panoramic Fixed	Pair Corr
0.8	THOVX	Thornburg Global Opp	Pair Corr
0.72	WAVLX	Wavelength Interest Rate	Pair Corr

Moving against Avantis Mutual Fund

0.49	AVCNX	American Century Etf	Pair Corr
0.39	AVUVX	Avantis Small Cap	Pair Corr

Related Correlations Analysis

	CCMSX	GLVIX	ESCIX	PSBMX	ANTMX	CMPAX	CIPNX
CCMSX		0.0	0.0	0.0	0.0	0.0	0.0	CCMSX
GLVIX	0.0		0.69	0.69	0.8	0.77	0.76	GLVIX
ESCIX	0.0	0.69		0.56	0.7	0.44	0.57	ESCIX
PSBMX	0.0	0.69	0.56		0.38	0.9	0.97	PSBMX
ANTMX	0.0	0.8	0.7	0.38		0.47	0.46	ANTMX
CMPAX	0.0	0.77	0.44	0.9	0.47		0.91	CMPAX
CIPNX	0.0	0.76	0.57	0.97	0.46	0.91		CIPNX
	CCMSX	GLVIX	ESCIX	PSBMX	ANTMX	CMPAX	CIPNX

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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

CIPNX	+ 0.97	PSBMX
CIPNX	+ 0.91	CMPAX
CMPAX	+ 0.9	PSBMX
ANTMX	+ 0.8	GLVIX
CMPAX	+ 0.77	GLVIX
CIPNX	+ 0.76	GLVIX

High negative correlations

CIPNX	- 0.0	CCMSX
CMPAX	- 0.0	CCMSX
ANTMX	- 0.0	CCMSX
PSBMX	- 0.0	CCMSX
ESCIX	- 0.0	CCMSX
GLVIX	- 0.0	CCMSX

Risk-Adjusted Indicators

There is a big difference between Avantis Mutual Fund performing well and Avantis Emerging 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 Avantis Emerging'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
CCMSX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GLVIX	0.93	(0.04)	0.00	2.25	0.00	0.00	1.53	(2.12)	5.60
ESCIX	0.74	(0.02)	0.00	(0.03)	0.00	0.00	1.87	(1.88)	4.56
PSBMX	0.97	(0.11)	0.00	(0.10)	0.00	0.00	2.03	(2.19)	5.36
ANTMX	0.74	0.02	0.02	(0.20)	0.98	(0.81)	2.07	(1.52)	5.64
CMPAX	0.77	(0.09)	0.00	(2.04)	0.00	0.00	1.50	(1.63)	3.50
CIPNX	0.88	(0.10)	0.00	(0.09)	0.00	0.00	1.52	(1.96)	4.80

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