Avantis Short-term Correlations

AVGNX Fund

USD 9.58 0.02 0.21%

The current 90-days correlation between Avantis Short Term and Doubleline Emerging Markets is 0.1 (i.e., Average diversification). The correlation of Avantis Short-term 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-term Correlation With Market

Modest diversification

The correlation between Avantis Short Term Fixed and DJI is 0.25 (i.e., Modest 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

0.83	AVANX	Avantis International	Pair Corr
0.76	AVBNX	American Century Etf	Pair Corr
0.84	AVDEX	Avantis International	Pair Corr
0.83	AVDVX	Avantis International	Pair Corr
0.84	AVDNX	Avantis International	Pair Corr
0.75	AVIGX	American Century Etf	Pair Corr
1.0	AVSFX	Avantis Short Term	Pair Corr
0.94	VBIRX	Vanguard Short Term	Pair Corr
0.92	VFSUX	Vanguard Short Term	Pair Corr
0.99	VFSIX	Vanguard Short Term	Pair Corr
0.9	VFSTX	Vanguard Short Term	Pair Corr
0.99	VBITX	Vanguard Short Term	Pair Corr
0.99	VBISX	Vanguard Short Term	Pair Corr
0.92	LALDX	Lord Abbett Short	Pair Corr
0.96	VSCSX	Vanguard Short Term	Pair Corr
0.87	LDLAX	Lord Abbett Short	Pair Corr
0.88	LDLRX	Lord Abbett Short	Pair Corr
0.81	GPBFX	Gmo E Plus	Pair Corr
0.76	WARCX	Wells Fargo Advantage	Pair Corr
0.86	COLPX	Columbia College 529	Pair Corr
0.81	RBESX	Rbc Bluebay Emerging	Pair Corr
0.94	HMJIX	Hartford Municipal Short	Pair Corr
0.91	SIYYX	Simt High Yield	Pair Corr
0.82	WINAX	Wilmington International	Pair Corr
0.94	VMLUX	Vanguard Limited Term	Pair Corr

Moving against Avantis Mutual Fund

0.75	PQTAX	Pimco Trends Managed	Pair Corr
0.75	PQTNX	Pimco Trends Managed	Pair Corr
0.74	PQTIX	Aa Pimco Tr	Pair Corr
0.57	GPMFX	Guidepath Managed Futures	Pair Corr

Related Correlations Analysis

	DLENX	ARTFX	PACEX	TTRBX	BXDCX	PRVBX
DLENX		0.89	0.94	0.85	0.88	0.91	DLENX
ARTFX	0.89		0.8	0.71	0.94	0.88	ARTFX
PACEX	0.94	0.8		0.91	0.81	0.88	PACEX
TTRBX	0.85	0.71	0.91		0.72	0.85	TTRBX
BXDCX	0.88	0.94	0.81	0.72		0.87	BXDCX
PRVBX	0.91	0.88	0.88	0.85	0.87		PRVBX
	DLENX	ARTFX	PACEX	TTRBX	BXDCX	PRVBX

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Risk-Adjusted Indicators

There is a big difference between Avantis Mutual Fund performing well and Avantis Short-term 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-term'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DLENX	0.11	0.02	0.28	(1.54)	(0.16)	0.22	(0.11)	0.67
ARTFX	0.12	0.02	0.22	(1.36)	(0.21)	0.44	(0.22)	1.22
PACEX	0.12	0.02	0.23	(1.37)	(0.19)	0.33	(0.22)	0.99
TTRBX	0.16	0.02	0.22	0.62	(0.21)	0.41	(0.30)	0.91
BXDCX	0.08	0.01	0.30	(0.39)	(0.15)	0.22	(0.11)	0.65
PRVBX	0.10	0.01	0.31	(0.96)	(0.13)	0.25	(0.17)	0.58

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