Avantis Small Correlations

AVSBX Fund

11.71 0.04 0.34%

The current 90-days correlation between Avantis Small Cap and Calvert Large Cap is 0.08 (i.e., Significant diversification). The correlation of Avantis Small 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 Small Correlation With Market

Good diversification

The correlation between Avantis Small Cap and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avantis Small Cap 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 Small Cap. 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 Avantis Mutual Fund

0.98	VSMAX	Vanguard Small Cap	Pair Corr
0.98	VSCIX	Vanguard Small Cap	Pair Corr
0.98	VSCPX	Vanguard Small Cap	Pair Corr
0.98	NAESX	Vanguard Small Cap	Pair Corr
0.95	FSSNX	Fidelity Small Cap	Pair Corr
0.98	DFSTX	Us Small Cap	Pair Corr
0.99	PASVX	T Rowe Price	Pair Corr
0.99	PRVIX	T Rowe Price	Pair Corr
0.99	TRZVX	T Rowe Price	Pair Corr
0.99	PRSVX	T Rowe Price	Pair Corr
0.9	VTSAX	Vanguard Total Stock	Pair Corr
0.88	VFIAX	Vanguard 500 Index	Pair Corr
0.9	VTSMX	Vanguard Total Stock	Pair Corr
0.9	VSMPX	Vanguard Total Stock	Pair Corr
0.9	VSTSX	Vanguard Total Stock	Pair Corr
0.9	VITSX	Vanguard Total Stock	Pair Corr
0.88	VFINX	Vanguard 500 Index	Pair Corr
0.88	VFFSX	Vanguard 500 Index	Pair Corr
0.88	VGTSX	Vanguard Total Inter	Pair Corr
0.88	VTIAX	Vanguard Total Inter	Pair Corr
0.97	PVFAX	Paradigm Value	Pair Corr
0.68	JNJ	Johnson Johnson	Pair Corr
0.72	JPM	JPMorgan Chase	Pair Corr
0.86	BAC	Bank of America	Pair Corr
0.72	XOM	Exxon Mobil Corp	Pair Corr
0.76	HPQ	HP Inc	Pair Corr
0.63	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.79	TRV	The Travelers Companies	Pair Corr

Moving against Avantis Mutual Fund

0.61	KO	Coca Cola Earnings Call This Week	Pair Corr
0.42	BA	Boeing	Pair Corr
0.36	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	CMIFX	NEAMX	JDVNX	DNLVX	LMTIX
CMIFX		0.86	0.86	0.84	0.87	CMIFX
NEAMX	0.86		0.99	0.93	0.97	NEAMX
JDVNX	0.86	0.99		0.96	0.97	JDVNX
DNLVX	0.84	0.93	0.96		0.94	DNLVX
LMTIX	0.87	0.97	0.97	0.94		LMTIX
	CMIFX	NEAMX	JDVNX	DNLVX	LMTIX

Risk-Adjusted Indicators

There is a big difference between Avantis Mutual Fund performing well and Avantis Small 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 Small'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
CMIFX	0.07	0.02	(0.33)	(0.23)	0.00	(0.12)	0.10	(0.10)	0.52
NEAMX	0.38	0.09	0.04	(0.29)	0.53	(0.40)	1.00	(0.62)	3.64
JDVNX	0.47	0.08	0.04	(0.43)	0.52	(0.52)	1.39	(0.77)	3.80
DNLVX	0.44	0.07	0.02	(0.35)	0.46	(0.53)	1.16	(0.69)	3.51
LMTIX	0.47	0.11	0.07	(0.43)	0.50	(0.51)	1.16	(0.59)	4.37

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