Avantis Equity Correlations

AVUSX Fund

USD 19.01 0.16 0.85%

The current 90-days correlation between Avantis Equity and Avantis International Small is 0.48 (i.e., Very weak 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 0.09 (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 state.

Moving together with Avantis Mutual Fund

0.67	AVCNX	American Century Etf	Pair Corr
0.85	AVLVX	American Century Etf	Pair Corr
0.66	AVUVX	Avantis Small Cap	Pair Corr
1.0	AVUNX	Avantis Equity	Pair Corr
0.76	ALCEX	Avantis Large Cap	Pair Corr
0.86	VTSAX	Vanguard Total Stock	Pair Corr
0.83	VFIAX	Vanguard 500 Index	Pair Corr
0.86	VTSMX	Vanguard Total Stock	Pair Corr
0.82	VITSX	Vanguard Total Stock	Pair Corr
0.86	VSMPX	Vanguard Total Stock	Pair Corr
0.86	VSTSX	Vanguard Total Stock	Pair Corr
0.84	VFINX	Vanguard 500 Index	Pair Corr
0.78	VFFSX	Vanguard 500 Index	Pair Corr
0.74	VINIX	Vanguard Institutional	Pair Corr
0.83	VIIIX	Vanguard Institutional	Pair Corr
0.77	MACGX	Mid Cap Growth	Pair Corr
0.85	PCGYX	Putnam Vertible Secu	Pair Corr
0.77	AMLPX	Maingate Mlp	Pair Corr
0.7	MSSMX	Small Pany Growth	Pair Corr
0.84	CICVX	Calamos Convertible	Pair Corr
0.61	CLM	Cornerstone Strategic	Pair Corr
0.74	DVFYX	Davis Financial	Pair Corr
0.62	MRHYX	Msift High Yield	Pair Corr
0.61	CSQIX	Credit Suisse Multia	Pair Corr

Related Correlations Analysis

	AVANX	AVCNX	AVDVX	AVDNX	AVGNX	AVIGX	AVLVX	AVSFX	AVUVX	AVUSX
AVANX		0.17	0.87	0.82	0.52	0.84	0.11	0.66	0.2	0.16	AVANX
AVCNX	0.17		0.25	0.18	0.16	0.41	0.9	0.13	1.0	0.67	AVCNX
AVDVX	0.87	0.25		0.74	0.61	0.81	0.2	0.62	0.28	0.14	AVDVX
AVDNX	0.82	0.18	0.74		0.17	0.78	-0.04	0.32	0.21	-0.06	AVDNX
AVGNX	0.52	0.16	0.61	0.17		0.56	0.37	0.86	0.15	0.47	AVGNX
AVIGX	0.84	0.41	0.81	0.78	0.56		0.33	0.71	0.44	0.37	AVIGX
AVLVX	0.11	0.9	0.2	-0.04	0.37	0.33		0.32	0.89	0.85	AVLVX
AVSFX	0.66	0.13	0.62	0.32	0.86	0.71	0.32		0.15	0.46	AVSFX
AVUVX	0.2	1.0	0.28	0.21	0.15	0.44	0.89	0.15		0.66	AVUVX
AVUSX	0.16	0.67	0.14	-0.06	0.47	0.37	0.85	0.46	0.66		AVUSX
	AVANX	AVCNX	AVDVX	AVDNX	AVGNX	AVIGX	AVLVX	AVSFX	AVUVX	AVUSX

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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

AVUVX	+ 1.0	AVCNX
AVLVX	+ 0.9	AVCNX
AVUVX	+ 0.89	AVLVX
AVDVX	+ 0.87	AVANX
AVSFX	+ 0.86	AVGNX
AVUSX	+ 0.85	AVLVX

High negative correlations

AVUSX	- 0.06	AVDNX
AVLVX	- 0.04	AVDNX

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
AVANX	0.56	(0.07)	0.00	(0.71)	0.00	0.00	1.16	(1.43)	4.06
AVCNX	0.89	0.00	(0.01)	0.02	1.15	(1.07)	1.83	(1.32)	11.02
AVDVX	0.57	(0.07)	0.00	(0.19)	0.00	0.00	1.16	(1.43)	3.98
AVDNX	0.55	(0.09)	0.00	3.86	0.00	0.00	1.09	(1.31)	3.95
AVGNX	0.11	(0.01)	(0.14)	(0.09)	0.09	(0.21)	0.32	(0.21)	0.95
AVIGX	0.25	(0.04)	0.00	(3.26)	0.00	0.00	0.49	(0.49)	1.57
AVLVX	0.58	0.03	0.03	0.12	0.68	(0.69)	1.23	(0.91)	7.19
AVSFX	0.11	(0.01)	(0.18)	0.58	0.12	(0.19)	0.32	(0.21)	0.84
AVUVX	0.90	(0.01)	(0.02)	0.00	1.16	(1.07)	1.83	(1.41)	11.02
AVUSX	0.58	0.04	0.02	0.43	0.82	(0.60)	1.19	(1.06)	6.67

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