Avantis Emerging Correlations

Mutual Funds . USA . 
Fund . Avantis Emerging Markets
AVENX Fund  USD 13.81  0.03  0.22%   
The current 90-days correlation between Avantis Emerging Markets and Avantis International Small is 0.43 (i.e., Very weak diversification). The correlation of Avantis Emerging 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 Emerging Correlation With Market

Very weak diversification

The correlation between Avantis Emerging Markets and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Avantis Emerging Markets 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 Emerging Markets. 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

  0.98AVANX Avantis InternationalPairCorr
  0.78AVBNX American Century EtfPairCorr
  0.97AVDEX Avantis InternationalPairCorr
  0.96AVCNX American Century EtfPairCorr
  1.0AVEEX Avantis Emerging MarketsPairCorr
  0.98AVDVX Avantis InternationalPairCorr
  0.97AVDNX Avantis InternationalPairCorr
  0.61AVGNX Avantis Short TermPairCorr
  0.76AVIGX American Century EtfPairCorr
  0.97AVLVX American Century EtfPairCorr
  0.97AVSBX Avantis Small CapPairCorr
  0.61AVSFX Avantis Short TermPairCorr
  0.96AVUVX Avantis Small CapPairCorr
  0.98AVUSX Avantis EquityPairCorr
  0.97AVUNX Avantis EquityPairCorr
  0.97ALCEX Avantis Large CapPairCorr
  0.99VEMAX Vanguard Emerging MarketsPairCorr
  0.99VEIEX Vanguard Emerging MarketsPairCorr
  0.99VEMIX Vanguard Emerging MarketsPairCorr
  0.99VEMRX Vanguard Emerging MarketsPairCorr
  0.99FWWNX American Funds NewPairCorr
  0.99FNFWX American Funds NewPairCorr
  0.99NEWFX New World FundPairCorr
  0.99NWFFX New World FundPairCorr
  0.99NEWCX New World FundPairCorr
  0.98ODVYX Oppenheimer DevelopingPairCorr
  0.74NHS Neuberger Berman HighPairCorr
  0.68NVG Nuveen Amt FreePairCorr
  0.96MLNSX Global Centrated PorPairCorr
  0.98CHRRX Invesco CharterPairCorr
  0.98TGVVX Growth OpportunitiesPairCorr
  0.96DDVRX Delaware ValuePairCorr
  0.98OANEX Oakmark InternationalPairCorr
  0.96MLNCX Global Centrated PorPairCorr
  0.68PCRIX CommodityrealreturnPairCorr
  0.95BPSIX Boston Partners SmallPairCorr
  0.99ABLOX Alger Balanced PortfolioPairCorr
  0.97RGPAX Rbc Global OpportunitiesPairCorr
  0.95SMVLX Smead Value Fund Potential GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Avantis Mutual Fund performing well and Avantis Emerging 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 Emerging'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
AVANX  0.50  0.23  0.19  1.36  0.00 
(0.61)
 1.11 
(0.88)
 2.67 
AVBNX  0.25  0.01 (0.32) 0.30  0.19 
(0.31)
 0.61 
(0.36)
 1.22 
AVDEX  0.47  0.16  0.10  0.63  0.18 
(0.53)
 1.22 
(0.99)
 2.61 
AVCNX  0.94  0.13  0.13  0.26  0.77 
(1.15)
 2.49 
(1.52)
 6.37 
AVEEX  0.50  0.23  0.19  0.63  0.00 
(0.63)
 1.66 
(0.98)
 3.93 
AVDVX  0.49  0.23  0.20  1.38  0.00 
(0.62)
 1.11 
(0.88)
 2.75 
AVDNX  0.48  0.16  0.09  0.62  0.26 
(0.54)
 1.22 
(1.05)
 2.75 
AVENX  0.50  0.23  0.21  0.63  0.00 
(0.63)
 1.75 
(1.02)
 3.92 
AVGNX  0.02  0.00  0.00  0.65  0.00 
 0.00 
 0.10 
 0.00 
 0.42 
AVIGX  0.26  0.02 (0.30) 0.46  0.22 
(0.31)
 0.49 
(0.48)
 1.22 

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