Avantis Small Correlations

AVUVX Fund

USD 15.58 0.12 0.76%

The current 90-days correlation between Avantis Small Cap and Financial Services Portfolio is 0.04 (i.e., Significant diversification). The correlation of Avantis Small 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 Small Correlation With Market

Poor diversification

The correlation between Avantis Small Cap and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avantis Small Cap 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 Small Cap. 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 real.

Moving together with Avantis Mutual Fund

0.71	AVCNX	American Century Etf	Pair Corr
0.89	AVLVX	American Century Etf	Pair Corr
0.92	AVSBX	Avantis Small Cap	Pair Corr
0.85	AVUSX	Avantis Equity	Pair Corr
0.85	AVUNX	Avantis Equity	Pair Corr
0.74	ALCEX	Avantis Large Cap	Pair Corr
0.75	VSIIX	Vanguard Small Cap	Pair Corr
0.75	VISVX	Vanguard Small Cap	Pair Corr
0.77	DFSVX	Us Small Cap	Pair Corr
0.77	DFFVX	Us Targeted Value	Pair Corr
0.75	UBVCX	Undiscovered Managers	Pair Corr
0.88	UBVAX	Undiscovered Managers	Pair Corr
0.75	UBVSX	Undiscovered Managers	Pair Corr
0.93	AVFIX	American Beacon Small	Pair Corr

Moving against Avantis Mutual Fund

0.81	AVGNX	Avantis Short Term	Pair Corr
0.79	AVIGX	American Century Etf	Pair Corr
0.78	AVBNX	American Century Etf	Pair Corr
0.69	AVDNX	Avantis International	Pair Corr
0.68	AVDEX	Avantis International	Pair Corr
0.66	AVANX	Avantis International	Pair Corr
0.66	AVDVX	Avantis International	Pair Corr
0.65	AVSFX	Avantis Short Term	Pair Corr
0.5	AVENX	Avantis Emerging Markets	Pair Corr
0.49	AVEEX	Avantis Emerging Markets	Pair Corr
0.63	MIPIX	Matthews Asia Dividend	Pair Corr
0.6	FPNTX	Nuveen Pennsylvania	Pair Corr
0.59	TEMHX	Tiaa Cref Emerging	Pair Corr
0.53	VWIAX	Vanguard Wellesley Income	Pair Corr
0.47	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.46	LIFAX	Lord Abbett Inflation	Pair Corr
0.43	ISD	Pgim High Yield	Pair Corr
0.4	PFN	Pimco Income Strategy	Pair Corr

Related Correlations Analysis

	FIDSX	PSSRX	FIDAX	MSVIX	PFPNX	GCFSX	BTO
FIDSX		0.91	0.87	0.75	0.19	0.33	0.83	FIDSX
PSSRX	0.91		0.98	0.83	0.15	0.32	0.87	PSSRX
FIDAX	0.87	0.98		0.86	0.09	0.24	0.8	FIDAX
MSVIX	0.75	0.83	0.86		-0.26	-0.09	0.81	MSVIX
PFPNX	0.19	0.15	0.09	-0.26		0.76	-0.06	PFPNX
GCFSX	0.33	0.32	0.24	-0.09	0.76		0.22	GCFSX
BTO	0.83	0.87	0.8	0.81	-0.06	0.22		BTO
	FIDSX	PSSRX	FIDAX	MSVIX	PFPNX	GCFSX	BTO

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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

FIDAX	+ 0.98	PSSRX
PSSRX	+ 0.91	FIDSX
FIDAX	+ 0.87	FIDSX
BTO	+ 0.87	PSSRX
MSVIX	+ 0.86	FIDAX
BTO	+ 0.83	FIDSX

High negative correlations

PFPNX	- 0.26	MSVIX
GCFSX	- 0.09	MSVIX
BTO	- 0.06	PFPNX

Risk-Adjusted Indicators

There is a big difference between Avantis Mutual Fund performing well and Avantis Small 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 Small'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
FIDSX	0.93	(0.11)	0.00	7.30	0.00	0.00	1.64	(3.26)	6.23
PSSRX	0.97	(0.10)	0.00	(0.16)	0.00	0.00	1.69	(3.18)	6.03
FIDAX	0.99	(0.11)	0.00	(0.18)	0.00	0.00	1.82	(3.26)	7.22
MSVIX	0.96	(0.18)	0.00	(0.27)	0.00	0.00	1.40	(2.19)	10.85
PFPNX	0.14	(0.02)	0.00	0.22	0.00	0.00	0.32	(0.22)	2.03
GCFSX	0.75	0.04	0.10	(0.47)	1.04	(0.76)	1.80	(2.41)	4.68
BTO	1.05	(0.06)	0.00	(0.13)	0.00	0.00	2.30	(2.35)	6.87

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