Avantis Equity Correlations

AVUSX Fund

USD 17.80 0.05 0.28%

The current 90-days correlation between Avantis Equity and Avantis International Small is 0.75 (i.e., Poor 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 state.

Moving together with Avantis Mutual Fund

0.88	AVSBX	Avantis Small Cap	Pair Corr
0.91	ALCEX	Avantis Large Cap	Pair Corr
0.99	VTSAX	Vanguard Total Stock	Pair Corr
0.99	VFIAX	Vanguard 500 Index	Pair Corr
0.99	VTSMX	Vanguard Total Stock	Pair Corr
0.93	VITSX	Vanguard Total Stock	Pair Corr
0.93	VSMPX	Vanguard Total Stock	Pair Corr
0.93	VSTSX	Vanguard Total Stock	Pair Corr
0.99	VFINX	Vanguard 500 Index	Pair Corr
0.93	VFFSX	Vanguard 500 Index	Pair Corr
0.92	VINIX	Vanguard Institutional	Pair Corr
0.92	VIIIX	Vanguard Institutional	Pair Corr
0.72	GPMFX	Guidepath Managed Futures	Pair Corr

Moving against Avantis Mutual Fund

0.47	AVSFX	Avantis Short Term	Pair Corr
0.46	AVGNX	Avantis Short Term	Pair Corr
0.76	GAAGX	Gmo Alternative Allo	Pair Corr
0.74	GAAKX	Gmo Alternative Allo	Pair Corr
0.43	GPBFX	Gmo E Plus	Pair Corr
0.9	RYUHX	Inverse Sp 500 Potential Growth	Pair Corr
0.49	SNGYX	Sit Government Securities	Pair Corr
0.45	WATCX	Western Asset Interm	Pair Corr
0.4	MSPHX	Massmutual Select Total	Pair Corr
0.37	NECRX	Loomis Sayles E	Pair Corr
0.35	PDINX	Putnam Diversified Income	Pair Corr

Related Correlations Analysis

	AVANX	AVDEX	AVEEX	AVDVX	AVDNX	AVENX	AVGNX	AVSBX	AVSFX
AVANX		0.98	0.77	1.0	0.98	0.78	0.85	-0.48	0.84	AVANX
AVDEX	0.98		0.72	0.98	1.0	0.73	0.9	-0.52	0.89	AVDEX
AVEEX	0.77	0.72		0.78	0.72	1.0	0.49	-0.16	0.46	AVEEX
AVDVX	1.0	0.98	0.78		0.98	0.79	0.85	-0.47	0.84	AVDVX
AVDNX	0.98	1.0	0.72	0.98		0.73	0.9	-0.52	0.89	AVDNX
AVENX	0.78	0.73	1.0	0.79	0.73		0.51	-0.17	0.48	AVENX
AVGNX	0.85	0.9	0.49	0.85	0.9	0.51		-0.66	1.0	AVGNX
AVSBX	-0.48	-0.52	-0.16	-0.47	-0.52	-0.17	-0.66		-0.67	AVSBX
AVSFX	0.84	0.89	0.46	0.84	0.89	0.48	1.0	-0.67		AVSFX
	AVANX	AVDEX	AVEEX	AVDVX	AVDNX	AVENX	AVGNX	AVSBX	AVSFX

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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

AVDVX	+ 1.0	AVANX
AVDNX	+ 1.0	AVDEX
AVENX	+ 1.0	AVEEX
AVSFX	+ 1.0	AVGNX
AVDEX	+ 0.98	AVANX
AVDNX	+ 0.98	AVANX

High negative correlations

AVSFX	- 0.67	AVSBX
AVSBX	- 0.66	AVGNX
AVSBX	- 0.52	AVDNX
AVSBX	- 0.52	AVDEX
AVSBX	- 0.48	AVANX
AVSBX	- 0.47	AVDVX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
AVANX	0.66	0.09	0.21	(0.81)	0.72	(0.73)	1.28	(1.08)	4.96
AVDEX	0.63	0.09	0.19	(0.61)	0.74	(0.67)	1.30	(1.04)	4.82
AVEEX	0.69	0.02	0.09	(3.08)	0.94	(0.68)	1.39	(1.71)	5.43
AVDVX	0.66	0.09	0.21	(0.75)	0.73	(0.73)	1.36	(1.15)	4.96
AVDNX	0.63	0.09	0.19	(0.65)	0.74	(0.67)	1.30	(1.12)	4.74
AVENX	0.69	0.02	0.10	(1.88)	0.94	(0.68)	1.39	(1.79)	5.52
AVGNX	0.12	0.01	0.49	0.22	0.00	(0.21)	0.32	(0.21)	0.74
AVSBX	0.92	(0.15)	0.00	(0.22)	0.00	0.00	1.59	(2.52)	4.71
AVSFX	0.12	0.01	0.49	0.21	0.00	(0.21)	0.32	(0.21)	0.85

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