Avantis Core Correlations

AVIG Etf

USD 42.03 0.03 0.07%

The current 90-days correlation between Avantis Core Fixed and Pacer Developed Markets is 0.09 (i.e., Significant diversification). The correlation of Avantis Core 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.

Avantis Core Correlation With Market

Poor diversification

The correlation between Avantis Core Fixed and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avantis Core Fixed and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Avantis Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Avantis Core Fixed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Avantis Etf

0.96	BND	Vanguard Total Bond	Pair Corr
0.81	AGG	iShares Core Aggregate	Pair Corr
0.77	BIV	Vanguard Intermediate	Pair Corr
0.8	SPAB	SPDR Portfolio Aggregate	Pair Corr
0.8	EAGG	iShares ESG Aggregate	Pair Corr
0.81	FLCB	Franklin Templeton ETF	Pair Corr
0.96	UITB	VictoryShares USAA Core	Pair Corr
0.85	DFCF	Dimensional ETF Trust	Pair Corr
0.78	JAGG	JPMorgan BetaBuilders	Pair Corr
0.73	AGGY	WisdomTree Yield Enhanced	Pair Corr
0.64	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.64	GDXU	MicroSectors Gold Miners	Pair Corr
0.66	JNUG	Direxion Daily Junior	Pair Corr
0.66	NUGT	Direxion Daily Gold	Pair Corr
0.71	PEY	Invesco High Yield	Pair Corr
0.75	GAL	SPDR SSgA Global	Pair Corr
0.67	WMT	Walmart Common Stock	Pair Corr
0.75	AA	Alcoa Corp	Pair Corr
0.61	BA	Boeing	Pair Corr

Moving against Avantis Etf

0.38	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.34	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.33	NVDL	GraniteShares 15x Long Aggressive Push	Pair Corr
0.56	HPQ	HP Inc	Pair Corr
0.46	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.31	0.06	0.06	-0.07	-0.27	0.34	-0.03	-0.05	0.04	META
MSFT	0.31		0.75	-0.47	0.48	0.32	0.39	-0.1	-0.81	-0.68	MSFT
UBER	0.06	0.75		-0.45	0.47	0.51	0.07	-0.23	-0.8	-0.52	UBER
F	0.06	-0.47	-0.45		-0.59	-0.33	0.02	0.46	0.64	0.6	F
T	-0.07	0.48	0.47	-0.59		0.61	-0.09	-0.25	-0.46	-0.64	T
A	-0.27	0.32	0.51	-0.33	0.61		-0.13	-0.12	-0.32	-0.52	A
CRM	0.34	0.39	0.07	0.02	-0.09	-0.13		0.62	-0.13	-0.45	CRM
JPM	-0.03	-0.1	-0.23	0.46	-0.25	-0.12	0.62		0.35	-0.05	JPM
MRK	-0.05	-0.81	-0.8	0.64	-0.46	-0.32	-0.13	0.35		0.68	MRK
XOM	0.04	-0.68	-0.52	0.6	-0.64	-0.52	-0.45	-0.05	0.68		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.75	MSFT
XOM	+ 0.68	MRK
MRK	+ 0.64	F
JPM	+ 0.62	CRM
A	+ 0.61	T
XOM	+ 0.6	F

High negative correlations

MRK	- 0.81	MSFT
MRK	- 0.8	UBER
XOM	- 0.68	MSFT
XOM	- 0.64	T
T	- 0.59	F
XOM	- 0.52	A

Avantis Core Competition Risk-Adjusted Indicators

There is a big difference between Avantis Etf performing well and Avantis Core ETF 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 Core'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
META	1.60	(0.03)	(0.01)	0.02	2.40	(1.68)	3.43	(2.67)	13.02
MSFT	1.24	(0.29)	0.00	(1.12)	0.00	0.00	1.85	(2.70)	4.90
UBER	1.47	(0.24)	0.00	(0.26)	0.00	0.00	2.50	(3.82)	10.23
F	1.47	0.18	0.10	0.52	1.32	(1.82)	3.65	(2.35)	16.30
T	0.88	(0.03)	0.00	(0.14)	0.00	0.00	1.63	(1.85)	4.30
A	1.19	(0.22)	0.00	(0.12)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.53	(0.30)	0.00	(0.24)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.11	0.04	(0.01)	(0.50)	1.66	(1.09)	2.00	(3.11)	7.38
MRK	1.26	0.30	0.21	0.47	1.14	(1.53)	3.59	(1.98)	8.09
XOM	1.06	0.24	0.18	0.45	0.96	(1.23)	2.38	(1.51)	5.82

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