Ave Maria Correlations

AVEDX Fund

USD 22.44 0.21 0.94%

The current 90-days correlation between Ave Maria Rising and Ave Maria Growth is 0.79 (i.e., Poor diversification). The correlation of Ave Maria 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.

Ave Maria Correlation With Market

Poor diversification

The correlation between Ave Maria Rising and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ave Maria Rising 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 Ave Maria Rising. 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 american community survey.

Moving together with Ave Mutual Fund

0.81

AVEGX

Ave Maria Growth

Pair Corr

Moving against Ave Mutual Fund

0.49	GCEJX	Goldman Sachs Clean	Pair Corr
0.44	PPRSX	Preferred Securities	Pair Corr
0.38	PFANX	Pimco Capital Sec	Pair Corr
0.42	BEMVX	Advisors Inner Circle	Pair Corr
0.32	ELMCX	Lord Abbett Trust	Pair Corr

Related Correlations Analysis

	AVEGX	MPIEX	VIISX	HSPCX	PABFX	PEXMX	FECGX	NOITX	MFOCX
AVEGX		0.41	0.29	0.46	0.34	0.41	0.55	-0.05	0.05	AVEGX
MPIEX	0.41		-0.04	0.73	0.71	0.54	0.24	0.6	0.44	MPIEX
VIISX	0.29	-0.04		0.3	0.41	0.68	0.72	0.06	0.49	VIISX
HSPCX	0.46	0.73	0.3		0.84	0.74	0.64	0.6	0.54	HSPCX
PABFX	0.34	0.71	0.41	0.84		0.86	0.67	0.8	0.77	PABFX
PEXMX	0.41	0.54	0.68	0.74	0.86		0.85	0.58	0.78	PEXMX
FECGX	0.55	0.24	0.72	0.64	0.67	0.85		0.32	0.51	FECGX
NOITX	-0.05	0.6	0.06	0.6	0.8	0.58	0.32		0.64	NOITX
MFOCX	0.05	0.44	0.49	0.54	0.77	0.78	0.51	0.64		MFOCX
	AVEGX	MPIEX	VIISX	HSPCX	PABFX	PEXMX	FECGX	NOITX	MFOCX

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

PEXMX	+ 0.86	PABFX
FECGX	+ 0.85	PEXMX
PABFX	+ 0.84	HSPCX
NOITX	+ 0.8	PABFX
MFOCX	+ 0.78	PEXMX
MFOCX	+ 0.77	PABFX

High negative correlations

NOITX	- 0.05	AVEGX
VIISX	- 0.04	MPIEX

Risk-Adjusted Indicators

There is a big difference between Ave Mutual Fund performing well and Ave Maria 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 Ave Maria'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
AVEGX	0.78	(0.12)	0.00	(0.04)	0.00	0.00	1.45	(1.45)	7.76
MPIEX	0.56	0.02	(0.04)	0.16	0.84	(0.58)	1.11	(1.11)	5.75
VIISX	0.48	(0.05)	0.00	(0.04)	0.00	0.00	0.84	(1.05)	2.21
HSPCX	1.40	0.11	0.03	0.40	1.70	(1.50)	2.67	(2.71)	8.68
PABFX	0.37	0.00	(0.05)	0.08	0.43	(0.43)	0.78	(0.87)	2.11
PEXMX	0.95	(0.01)	0.01	0.07	1.12	(1.04)	1.97	(1.87)	4.84
FECGX	1.16	(0.05)	(0.01)	0.04	1.44	(1.20)	1.97	(2.26)	6.92
NOITX	0.07	0.00	(0.42)	0.00	0.00	(0.14)	0.20	(0.10)	0.61
MFOCX	1.19	0.26	0.20	0.29	0.92	(1.40)	1.95	(2.16)	24.62

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