Ave Maria Correlations

AVEMX Fund

USD 28.39 0.14 0.49%

The current 90-days correlation between Ave Maria Value and Ave Maria Growth is 0.92 (i.e., Almost no 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 Value and DJI is 0.52 (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 Value 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 Value. 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 population.

Moving together with Ave Mutual Fund

0.83	AVEGX	Ave Maria Growth	Pair Corr
0.92	AVEDX	Ave Maria Rising	Pair Corr

Moving against Ave Mutual Fund

0.31

GAAGX

Gmo Alternative Allo

Pair Corr

Related Correlations Analysis

	AVEGX	AVEDX	AVEFX	AVEWX	AVEAX
AVEGX		0.84	-0.37	0.64	0.31	AVEGX
AVEDX	0.84		0.13	0.48	0.28	AVEDX
AVEFX	-0.37	0.13		-0.22	0.05	AVEFX
AVEWX	0.64	0.48	-0.22		0.88	AVEWX
AVEAX	0.31	0.28	0.05	0.88		AVEAX
	AVEGX	AVEDX	AVEFX	AVEWX	AVEAX

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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

AVEAX	+ 0.88	AVEWX
AVEDX	+ 0.84	AVEGX
AVEWX	+ 0.64	AVEGX
AVEWX	+ 0.48	AVEDX
AVEAX	+ 0.31	AVEGX
AVEAX	+ 0.28	AVEDX

High negative correlations

AVEFX	- 0.37	AVEGX
AVEWX	- 0.22	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
AVEGX	0.94	(0.13)	0.00	(0.21)	0.00	0.00	1.67	(1.87)	9.19
AVEDX	0.78	(0.05)	0.00	(0.13)	0.00	0.00	1.19	(1.46)	7.01
AVEFX	0.19	0.02	0.30	0.09	0.20	(0.21)	0.33	(0.33)	1.07
AVEWX	0.83	(0.01)	0.00	(0.09)	0.00	0.00	1.47	(1.84)	4.00
AVEAX	1.01	0.06	0.05	0.00	1.42	(0.96)	1.97	(2.25)	5.10

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