Ave Maria Correlations

AVEDX Fund

USD 22.51 0.01 0.04%

The current 90-days correlation between Ave Maria Rising and Marsico Focus Fund is 0.09 (i.e., Significant 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

Almost no diversification

The correlation between Ave Maria Rising and DJI is 0.92 (i.e., Almost no 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 various price indices.

Moving together with Ave Mutual Fund

0.77	VTSAX	Vanguard Total Stock	Pair Corr
0.73	VFIAX	Vanguard 500 Index	Pair Corr
0.76	VTSMX	Vanguard Total Stock	Pair Corr
0.76	VITSX	Vanguard Total Stock	Pair Corr
0.76	VSMPX	Vanguard Total Stock	Pair Corr
0.77	VSTSX	Vanguard Total Stock	Pair Corr
0.73	VFINX	Vanguard 500 Index	Pair Corr
0.73	VFFSX	Vanguard 500 Index	Pair Corr
0.73	VINIX	Vanguard Institutional	Pair Corr
0.73	VIIIX	Vanguard Institutional	Pair Corr
0.75	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.75	RYVLX	Nasdaq 100 2x	Pair Corr
0.81	UOPIX	Ultra Nasdaq 100	Pair Corr
0.76	RYCCX	Nasdaq 100 2x	Pair Corr
0.75	BIPIX	Biotechnology Ultrasector	Pair Corr
0.85	ORSIX	Oak Ridge Dynamic	Pair Corr
0.79	BTFIX	Bts Tactical Fixed	Pair Corr
0.84	SDVSX	Sit Dividend Growth	Pair Corr
0.78	GBPAX	Global Opportunities	Pair Corr
0.81	GCICX	Goldman Sachs Intern	Pair Corr
0.74	CDSRX	Calvert Short Duration	Pair Corr
0.86	FPPIX	Fidelity Advisor 529	Pair Corr
0.83	PMJIX	Pimco Rae Fundamental	Pair Corr
0.75	DVFYX	Davis Financial	Pair Corr
0.77	TGWIX	Tcw Emerging Markets	Pair Corr
0.77	ARYRX	One Choice 2035	Pair Corr
0.8	NQCAX	Nuveen Nwq Large	Pair Corr
0.68	FOFRX	Franklin Oregon Tax	Pair Corr
0.62	UVAIX	Usaa Virginia Bond	Pair Corr
0.8	ARTOX	One Choice In	Pair Corr
0.67	PRAPX	Pimco Total Return	Pair Corr
0.8	RBEGX	American Funds Growth	Pair Corr
0.78	AAATX	American Funds 2010	Pair Corr
0.64	CCRSX	Commodity Return Strategy	Pair Corr

Moving against Ave Mutual Fund

0.36	INPIX	Internet Ultrasector	Pair Corr
0.37	INPSX	Internet Ultrasector	Pair Corr

Related Correlations Analysis

	AVEGX	MPIEX	VIISX	HSPCX	PABFX	PEXMX	FECGX	NOITX	MFOCX
AVEGX		0.75	0.85	0.95	0.86	0.87	0.89	0.9	0.76	AVEGX
MPIEX	0.75		0.81	0.69	0.92	0.88	0.77	0.71	0.86	MPIEX
VIISX	0.85	0.81		0.77	0.91	0.86	0.86	0.83	0.78	VIISX
HSPCX	0.95	0.69	0.77		0.81	0.85	0.91	0.81	0.68	HSPCX
PABFX	0.86	0.92	0.91	0.81		0.95	0.9	0.77	0.88	PABFX
PEXMX	0.87	0.88	0.86	0.85	0.95		0.94	0.76	0.87	PEXMX
FECGX	0.89	0.77	0.86	0.91	0.9	0.94		0.74	0.74	FECGX
NOITX	0.9	0.71	0.83	0.81	0.77	0.76	0.74		0.73	NOITX
MFOCX	0.76	0.86	0.78	0.68	0.88	0.87	0.74	0.73		MFOCX
	AVEGX	MPIEX	VIISX	HSPCX	PABFX	PEXMX	FECGX	NOITX	MFOCX

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	0.69	0.08	0.05	(17.87)	0.72	(0.75)	1.44	(1.36)	3.95
MPIEX	0.60	0.13	0.18	0.24	0.41	(0.72)	1.22	(1.05)	4.68
VIISX	0.48	0.01	(0.01)	0.07	0.54	(0.54)	1.11	(1.05)	2.53
HSPCX	1.22	0.09	0.03	(2.71)	1.62	(1.28)	2.20	(2.49)	7.67
PABFX	0.36	0.01	(0.01)	0.06	0.42	(0.40)	0.73	(0.87)	2.18
PEXMX	0.84	0.00	0.00	0.04	1.01	(0.94)	1.69	(1.78)	3.78
FECGX	1.02	(0.03)	(0.02)	0.01	1.35	(1.01)	1.94	(2.12)	5.52
NOITX	0.06	0.01	(0.20)	0.20	0.00	(0.13)	0.10	(0.10)	0.61
MFOCX	1.11	0.28	0.22	0.31	0.86	(1.27)	1.71	(2.16)	26.27

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