Avantis Short Correlations

AVGNX Fund

USD 9.56 0.01 0.10%

The current 90-days correlation between Avantis Short Term and Franklin Real Estate is 0.23 (i.e., Modest diversification). The correlation of Avantis Short 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 Short Correlation With Market

Average diversification

The correlation between Avantis Short Term Fixed and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avantis Short Term Fixed 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 Short Term Fixed. 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 board of governors.

Moving together with Avantis Mutual Fund

0.98	AVBNX	American Century Etf	Pair Corr
0.62	AVEEX	Avantis Emerging Markets	Pair Corr
0.86	AVDVX	Avantis International	Pair Corr
0.61	AVENX	Avantis Emerging Markets	Pair Corr
0.76	AVIGX	American Century Etf	Pair Corr
0.72	AVSFX	Avantis Short Term	Pair Corr
0.99	VBIRX	Vanguard Short Term	Pair Corr
0.97	VFSUX	Vanguard Short Term	Pair Corr
1.0	VFSIX	Vanguard Short Term	Pair Corr
0.97	VFSTX	Vanguard Short Term	Pair Corr
0.99	VBITX	Vanguard Short Term	Pair Corr
0.99	VBISX	Vanguard Short Term	Pair Corr
0.96	LALDX	Lord Abbett Short	Pair Corr
0.98	VSCSX	Vanguard Short Term	Pair Corr
0.96	LDLAX	Lord Abbett Short	Pair Corr
0.96	LDLRX	Lord Abbett Short	Pair Corr
0.89	PFN	Pimco Income Strategy	Pair Corr
0.77	XPPRX	Voya Prime Rate	Pair Corr
0.81	PCF	Putnam High Income	Pair Corr
0.94	CCWFX	Capital World Bond	Pair Corr
0.61	MQY	Blackrock Muniyield	Pair Corr
0.7	UIPIX	Ultrashort Mid Cap	Pair Corr

Moving against Avantis Mutual Fund

0.75	AVCNX	American Century Etf	Pair Corr
0.6	AVUVX	Avantis Small Cap	Pair Corr
0.52	AVSBX	Avantis Small Cap	Pair Corr
0.4	ALCEX	Avantis Large Cap	Pair Corr
0.37	AVLVX	American Century Etf	Pair Corr
0.36	AVUNX	Avantis Equity	Pair Corr

Related Correlations Analysis

	FREEX	REPIX	RRSCX	FORFX	TIREX	CREMX	CREFX
FREEX		0.66	0.65	0.29	0.66	0.24	0.67	FREEX
REPIX	0.66		0.97	0.69	0.98	0.61	0.98	REPIX
RRSCX	0.65	0.97		0.58	0.98	0.5	0.93	RRSCX
FORFX	0.29	0.69	0.58		0.54	0.99	0.76	FORFX
TIREX	0.66	0.98	0.98	0.54		0.45	0.93	TIREX
CREMX	0.24	0.61	0.5	0.99	0.45		0.71	CREMX
CREFX	0.67	0.98	0.93	0.76	0.93	0.71		CREFX
	FREEX	REPIX	RRSCX	FORFX	TIREX	CREMX	CREFX

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Risk-Adjusted Indicators

There is a big difference between Avantis Mutual Fund performing well and Avantis Short 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 Short'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
FREEX	1.02	(0.16)	(0.23)	1.62	(2.46)	7.05
REPIX	1.42	(0.04)	(0.03)	2.69	(2.92)	7.54
RRSCX	0.77	(0.04)	(0.05)	1.56	(1.56)	4.16
FORFX	0.05	0.02	(3.10)	0.11	0.00	0.32
TIREX	0.93	(0.05)	(0.07)	1.76	(2.11)	4.81
CREMX	0.02	0.02	5.68	0.08	0.00	0.08
CREFX	0.93	(0.02)	(0.03)	1.59	(1.75)	4.82

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