Avantis Equity Correlations

AVUNX Fund

USD 19.25 0.10 0.52%

The current 90-days correlation between Avantis Equity and Gabelli Gold Fund is 0.19 (i.e., Average diversification). The correlation of Avantis Equity 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 Equity Correlation With Market

Significant diversification

The correlation between Avantis Equity and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avantis Equity 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 Equity. 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 board of governors.

Moving together with Avantis Mutual Fund

0.71	AVCNX	American Century Etf	Pair Corr
0.86	AVLVX	American Century Etf	Pair Corr
0.71	AVUVX	Avantis Small Cap	Pair Corr
1.0	AVUSX	Avantis Equity	Pair Corr
0.86	ALCEX	Avantis Large Cap	Pair Corr
0.97	VTSAX	Vanguard Total Stock	Pair Corr
0.88	VFIAX	Vanguard 500 Index	Pair Corr
0.97	VTSMX	Vanguard Total Stock	Pair Corr
0.9	VITSX	Vanguard Total Stock	Pair Corr
0.97	VSMPX	Vanguard Total Stock	Pair Corr
0.97	VSTSX	Vanguard Total Stock	Pair Corr
0.88	VFINX	Vanguard 500 Index	Pair Corr
0.94	VFFSX	Vanguard 500 Index	Pair Corr
0.88	VINIX	Vanguard Institutional	Pair Corr
0.88	VIIIX	Vanguard Institutional	Pair Corr
0.72	WARCX	Wells Fargo Advantage	Pair Corr
0.89	ANZCX	Allianzgi Convertible	Pair Corr
0.84	FCSZX	Franklin Convertible	Pair Corr
0.86	AFOZX	Alger Funds Mid	Pair Corr

Moving against Avantis Mutual Fund

0.53	GAAKX	Gmo Alternative Allo	Pair Corr
0.49	GAAGX	Gmo Alternative Allo	Pair Corr

Related Correlations Analysis

	GLDAX	QGLDX	FGDIX	GZIRX	OGMCX	IIGCX	UIPMX	VGSBX
GLDAX		0.8	0.94	-0.24	0.93	0.94	0.95	0.45	GLDAX
QGLDX	0.8		0.77	0.1	0.69	0.75	0.74	0.06	QGLDX
FGDIX	0.94	0.77		-0.18	0.98	1.0	0.99	0.38	FGDIX
GZIRX	-0.24	0.1	-0.18		-0.28	-0.24	-0.26	-0.07	GZIRX
OGMCX	0.93	0.69	0.98	-0.28		0.98	0.98	0.48	OGMCX
IIGCX	0.94	0.75	1.0	-0.24	0.98		0.99	0.39	IIGCX
UIPMX	0.95	0.74	0.99	-0.26	0.98	0.99		0.39	UIPMX
VGSBX	0.45	0.06	0.38	-0.07	0.48	0.39	0.39		VGSBX
	GLDAX	QGLDX	FGDIX	GZIRX	OGMCX	IIGCX	UIPMX	VGSBX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

IIGCX	+ 1.0	FGDIX
UIPMX	+ 0.99	FGDIX
UIPMX	+ 0.99	IIGCX
OGMCX	+ 0.98	FGDIX
IIGCX	+ 0.98	OGMCX
UIPMX	+ 0.98	OGMCX

High negative correlations

OGMCX	- 0.28	GZIRX
UIPMX	- 0.26	GZIRX
IIGCX	- 0.24	GZIRX
GZIRX	- 0.24	GLDAX
GZIRX	- 0.18	FGDIX
VGSBX	- 0.07	GZIRX

Risk-Adjusted Indicators

There is a big difference between Avantis Mutual Fund performing well and Avantis Equity 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 Equity'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
GLDAX	1.28	(0.18)	0.00	(1.05)	0.00	0.00	2.57	(2.88)	8.37
QGLDX	0.85	(0.01)	(0.05)	0.01	1.30	(0.75)	1.37	(1.99)	4.89
FGDIX	1.34	(0.17)	0.00	(0.41)	0.00	0.00	2.62	(2.96)	8.02
GZIRX	0.12	0.02	(0.27)	0.65	0.00	(0.17)	0.22	(0.22)	0.75
OGMCX	1.28	(0.18)	0.00	(0.41)	0.00	0.00	2.65	(2.77)	8.94
IIGCX	1.27	(0.17)	0.00	(0.49)	0.00	0.00	2.63	(3.04)	8.36
UIPMX	1.31	(0.19)	0.00	(0.43)	0.00	0.00	2.56	(3.27)	7.60
VGSBX	0.24	(0.03)	0.00	13.53	0.00	0.00	0.43	(0.54)	1.83

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC