Avantis Equity Correlations

Mutual Funds . USA . 
Fund . Avantis Equity
AVUNX Fund  USD 17.82  0.04  0.22%   
The current 90-days correlation between Avantis Equity and American High Income Municipal is 0.2 (i.e., Modest diversification). The correlation of Avantis Equity 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 Equity Correlation With Market

Good diversification

The correlation between Avantis Equity and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avantis Equity 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 Equity. 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

  0.87AVSBX Avantis Small CapPairCorr
  1.0AVUSX Avantis EquityPairCorr
  0.91ALCEX Avantis Large CapPairCorr
  0.99VTSAX Vanguard Total StockPairCorr
  0.99VFIAX Vanguard 500 IndexPairCorr
  0.99VTSMX Vanguard Total StockPairCorr
  0.93VITSX Vanguard Total StockPairCorr
  0.93VSMPX Vanguard Total StockPairCorr
  0.93VSTSX Vanguard Total StockPairCorr
  0.99VFINX Vanguard 500 IndexPairCorr
  0.93VFFSX Vanguard 500 IndexPairCorr
  0.92VINIX Vanguard InstitutionalPairCorr
  0.92VIIIX Vanguard InstitutionalPairCorr
  0.72GPMFX Guidepath Managed FuturesPairCorr

Moving against Avantis Mutual Fund

  0.46AVGNX Avantis Short TermPairCorr
  0.46AVSFX Avantis Short TermPairCorr
  0.76GAAGX Gmo Alternative AlloPairCorr
  0.73GAAKX Gmo Alternative AlloPairCorr
  0.43GPBFX Gmo E PlusPairCorr
  0.9RYUHX Inverse Sp 500 Potential GrowthPairCorr
  0.49SNGYX Sit Government SecuritiesPairCorr
  0.45WATCX Western Asset IntermPairCorr
  0.39MSPHX Massmutual Select TotalPairCorr
  0.37NECRX Loomis Sayles EPairCorr
  0.35PDINX Putnam Diversified IncomePairCorr

Related Correlations Analysis

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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   
BBINX
+ 1.0
AMHIX
RGVAX
+ 1.0
CGTCX
FCSCX
+ 0.87
CGTCX
FCSCX
+ 0.87
RGVAX
BBINX
+ 0.84
CGTCX
BBINX
+ 0.84
RGVAX
  
High negative correlations   
AUNCX
- 0.34
EQCDX

Risk-Adjusted Indicators

There is a big difference between Avantis Mutual Fund performing well and Avantis Equity 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 Equity'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.

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