Ave Maria Correlations

AVEFX Fund

USD 12.29 0.01 0.08%

The current 90-days correlation between Ave Maria Bond and Columbia Convertible Securities is 0.45 (i.e., Very weak 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

Very weak diversification

The correlation between Ave Maria Bond and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ave Maria Bond 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 Bond. 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 census.

Moving together with Ave Mutual Fund

0.81	AVEGX	Ave Maria Growth	Pair Corr
0.66	AVEDX	Ave Maria Rising	Pair Corr
0.79	AVEAX	Ave Maria Focused	Pair Corr
0.85	AVEWX	Ave Maria World	Pair Corr
0.91	FASIX	Fidelity Asset Manager	Pair Corr
0.92	FTIWX	Fidelity Asset Manager	Pair Corr
0.92	FTDWX	Fidelity Asset Manager	Pair Corr
0.93	FTAWX	Fidelity Asset Manager	Pair Corr
0.92	FIKVX	Fidelity Asset Manager	Pair Corr
0.92	FTCWX	Fidelity Asset Manager	Pair Corr
0.93	VASIX	Vanguard Lifestrategy	Pair Corr
0.94	PFIPX	Strategic Asset Mana	Pair Corr
0.95	PFN	Pimco Income Strategy	Pair Corr
0.9	CIF	Mfs Intermediate High	Pair Corr
0.72	NXJ	Nuveen New Jersey	Pair Corr
0.85	PCF	Putnam High Income	Pair Corr
0.93	FFFAX	Fidelity Freedom Income	Pair Corr
0.76	RBCRX	Rbc Bluebay Absolute Steady Growth	Pair Corr
0.88	DASPX	Dunham Enhanced Market	Pair Corr
0.86	PLIBX	Plumb Balanced	Pair Corr
0.88	PRIJX	T Rowe Price	Pair Corr
0.83	RMBMX	Rmb Smid Cap	Pair Corr
0.81	VGSIX	Vanguard Reit Index	Pair Corr
0.88	JDEUX	Jpmorgan Disciplined	Pair Corr
0.86	JABDX	Jhancock Multimanager	Pair Corr
0.85	GMAUX	Gmo Emerging Markets	Pair Corr
0.89	ICMBX	Intrepid Capital	Pair Corr
0.89	WFRTX	Wells Fargo Intermediate	Pair Corr
0.76	FSTGX	Fidelity Intermediate	Pair Corr
0.79	COICX	Calvert International	Pair Corr
0.89	ACYIX	High Yield Fund	Pair Corr
0.9	VBISX	Vanguard Short Term	Pair Corr
0.88	ISQIX	Voya Solution 2035	Pair Corr

Moving against Ave Mutual Fund

0.31	XDSMX	Dreyfus Strategic	Pair Corr
0.4	XNBHX	Neuberger Berman Int	Pair Corr
0.7	GPSCX	Victory Rs Small	Pair Corr

Related Correlations Analysis

	NCIDX	FSAWX	CCD	GCV	ARBOX
NCIDX		0.95	-0.17	0.97	0.99	NCIDX
FSAWX	0.95		-0.13	0.91	0.97	FSAWX
CCD	-0.17	-0.13		-0.34	-0.16	CCD
GCV	0.97	0.91	-0.34		0.95	GCV
ARBOX	0.99	0.97	-0.16	0.95		ARBOX
	NCIDX	FSAWX	CCD	GCV	ARBOX

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

ARBOX	+ 0.99	NCIDX
GCV	+ 0.97	NCIDX
ARBOX	+ 0.97	FSAWX
FSAWX	+ 0.95	NCIDX
ARBOX	+ 0.95	GCV
GCV	+ 0.91	FSAWX

High negative correlations

GCV	- 0.34	CCD
CCD	- 0.17	NCIDX
ARBOX	- 0.16	CCD
CCD	- 0.13	FSAWX

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
NCIDX	0.46	0.16	0.19	0.49	0.00	(0.61)	1.24	(0.49)	2.74
FSAWX	0.10	0.03	(0.89)	1.34	0.00	(0.17)	0.28	(0.09)	0.73
CCD	0.62	(0.02)	(0.10)	0.09	0.83	(0.65)	1.32	(1.03)	4.97
GCV	0.62	0.17	0.10	0.76	0.48	(0.81)	1.70	(1.21)	3.77
ARBOX	0.06	0.02	(1.10)	0.64	0.00	(0.12)	0.18	(0.09)	0.35

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

2025 Macroaxis LLC