Ave Maria Correlations

AVEDX Fund

USD 23.80 0.04 0.17%

The current 90-days correlation between Ave Maria Rising and Ave Maria Growth is 0.91 (i.e., Almost no 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

Very weak diversification

The correlation between Ave Maria Rising and DJI is 0.45 (i.e., Very weak 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 unemployment.

Moving together with Ave Mutual Fund

0.93	AVEGX	Ave Maria Growth	Pair Corr
0.85	AVEFX	Ave Maria Bond	Pair Corr
0.81	AVEWX	Ave Maria World	Pair Corr
0.94	AVEMX	Ave Maria Value	Pair Corr
0.67	GPBFX	Gmo E Plus	Pair Corr
0.64	USA	Liberty All Star	Pair Corr
0.79	SPVZX	Prudential Qma Mid	Pair Corr

Moving against Ave Mutual Fund

0.67	NTG	Tortoise Mlp Closed	Pair Corr
0.57	PQTAX	Pimco Trends Managed	Pair Corr
0.57	PQTNX	Pimco Trends Managed	Pair Corr
0.57	PQTIX	Aa Pimco Tr	Pair Corr
0.46	GPMFX	Guidepath Managed Futures	Pair Corr
0.65	SSAGX	Virtus Seix Government	Pair Corr
0.6	LGRAX	Lord Abbett Investment	Pair Corr

Related Correlations Analysis

	AVEGX	AVEMX	AVEFX	AVEWX	AVEAX
AVEGX		0.87	0.72	0.78	0.06	AVEGX
AVEMX	0.87		0.88	0.68	0.28	AVEMX
AVEFX	0.72	0.88		0.76	0.36	AVEFX
AVEWX	0.78	0.68	0.76		0.01	AVEWX
AVEAX	0.06	0.28	0.36	0.01		AVEAX
	AVEGX	AVEMX	AVEFX	AVEWX	AVEAX

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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	0.74	(0.10)	0.00	(0.15)	0.00	0.00	1.38	(1.68)	11.46
AVEMX	1.00	(0.03)	0.00	(0.02)	0.00	0.00	1.89	(1.98)	13.21
AVEFX	0.19	(0.02)	0.00	(0.16)	0.00	0.00	0.33	(0.33)	1.32
AVEWX	0.63	(0.04)	0.00	(0.07)	0.00	0.00	1.26	(1.47)	4.63
AVEAX	0.82	0.13	0.11	0.30	0.89	(0.89)	1.68	(1.32)	6.00

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