Avantis Short Correlations

AVSFX Fund

USD 9.55 0.01 0.10%

The current 90-days correlation between Avantis Short Term and Avantis Core Municipal is -0.08 (i.e., Good 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

Good diversification

The correlation between Avantis Short Term Fixed and DJI is -0.15 (i.e., Good 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 census.

Moving together with Avantis Mutual Fund

0.64	AVANX	Avantis International	Pair Corr
0.96	AVBNX	American Century Etf	Pair Corr
0.7	AVDEX	Avantis International	Pair Corr
0.64	AVDVX	Avantis International	Pair Corr
0.7	AVDNX	Avantis International	Pair Corr
1.0	AVGNX	Avantis Short Term	Pair Corr
0.96	AVIGX	American Century Etf	Pair Corr
0.95	VBIRX	Vanguard Short Term	Pair Corr
0.87	VFSUX	Vanguard Short Term	Pair Corr
0.97	VFSIX	Vanguard Short Term	Pair Corr
0.98	VFSTX	Vanguard Short Term	Pair Corr
0.99	VBITX	Vanguard Short Term	Pair Corr
0.99	VBISX	Vanguard Short Term	Pair Corr
0.63	LALDX	Lord Abbett Short	Pair Corr
0.93	VSCSX	Vanguard Short Term	Pair Corr
0.69	LDLAX	Lord Abbett Short	Pair Corr
0.63	LDLRX	Lord Abbett Short	Pair Corr

Moving against Avantis Mutual Fund

0.59	AVLVX	American Century Etf	Pair Corr
0.59	AVUSX	Avantis Equity	Pair Corr
0.59	AVUNX	Avantis Equity	Pair Corr
0.59	ALCEX	Avantis Large Cap	Pair Corr
0.57	AVCNX	American Century Etf	Pair Corr
0.56	AVUVX	Avantis Small Cap	Pair Corr
0.59	VSTSX	Vanguard Total Stock	Pair Corr
0.59	VSMPX	Vanguard Total Stock	Pair Corr
0.59	VITSX	Vanguard Total Stock	Pair Corr
0.58	VFFSX	Vanguard 500 Index	Pair Corr
0.58	VFIAX	Vanguard 500 Index	Pair Corr
0.71	BDJ	Blackrock Enhanced Equity	Pair Corr
0.62	LCGNX	William Blair Large	Pair Corr
0.61	AIO	Virtus Allianzgi Art	Pair Corr
0.59	VTSAX	Vanguard Total Stock	Pair Corr
0.59	HACAX	Harbor Capital Appre	Pair Corr
0.58	VINIX	Vanguard Institutional	Pair Corr
0.58	VFINX	Vanguard 500 Index	Pair Corr
0.56	VSMAX	Vanguard Small Cap	Pair Corr

Related Correlations Analysis

	AVFNX	AVMUX	AVSBX	AVSFX	AVUSX	AVUNX	NWWAX	SMGASX	PWJQX
AVFNX		1.0	-0.08	0.2	-0.34	-0.34	0.0	0.0	0.06	AVFNX
AVMUX	1.0		-0.06	0.19	-0.32	-0.32	0.0	0.0	0.04	AVMUX
AVSBX	-0.08	-0.06		-0.51	0.92	0.92	0.0	0.0	-0.36	AVSBX
AVSFX	0.2	0.19	-0.51		-0.59	-0.59	0.0	0.0	0.42	AVSFX
AVUSX	-0.34	-0.32	0.92	-0.59		1.0	0.0	0.0	-0.32	AVUSX
AVUNX	-0.34	-0.32	0.92	-0.59	1.0		0.0	0.0	-0.32	AVUNX
NWWAX	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	NWWAX
SMGASX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	SMGASX
PWJQX	0.06	0.04	-0.36	0.42	-0.32	-0.32	0.0	0.0		PWJQX
	AVFNX	AVMUX	AVSBX	AVSFX	AVUSX	AVUNX	NWWAX	SMGASX	PWJQX

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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

AVMUX	+ 1.0	AVFNX
AVUNX	+ 1.0	AVUSX
AVUSX	+ 0.92	AVSBX
AVUNX	+ 0.92	AVSBX
PWJQX	+ 0.42	AVSFX
AVSFX	+ 0.2	AVFNX

High negative correlations

AVUNX	- 0.59	AVSFX
AVUSX	- 0.59	AVSFX
AVSFX	- 0.51	AVSBX
PWJQX	- 0.36	AVSBX
AVUNX	- 0.34	AVFNX
AVUSX	- 0.34	AVFNX

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AVFNX	0.10	(0.03)	0.00	(0.88)	0.00	0.00	0.21	(0.42)	0.74
AVMUX	0.10	(0.02)	0.00	(1.78)	0.00	0.00	0.21	(0.42)	0.74
AVSBX	0.99	(0.07)	0.01	0.08	0.96	(1.16)	2.11	(1.64)	8.59
AVSFX	0.11	0.00	(0.86)	0.19	0.09	(0.15)	0.32	(0.21)	0.73
AVUSX	0.57	0.01	0.01	0.14	0.61	(0.66)	1.05	(1.10)	4.62
AVUNX	0.57	0.01	0.01	0.14	0.61	(0.65)	1.05	(1.10)	4.66
NWWAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SMGASX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PWJQX	0.76	(0.16)	0.00	(0.08)	0.00	0.00	1.59	(1.71)	5.55

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