Avantis Short Correlations

Mutual Funds . USA . 
Fund . Avantis Short Term Fixed
AVGNX Fund  USD 9.57  0.00  0.00%   
The current 90-days correlation between Avantis Short Term and Mesirow Financial Small is -0.13 (i.e., Good diversification). The correlation of Avantis Short 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 Short Correlation With Market

Good diversification

The correlation between Avantis Short Term Fixed 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 Short Term Fixed 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 Short Term Fixed. 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

  0.68AVDEX Avantis InternationalPairCorr
  0.63AVCNX American Century EtfPairCorr
  0.61AVEEX Avantis Emerging MarketsPairCorr
  0.68AVDNX Avantis InternationalPairCorr
  0.61AVENX Avantis Emerging MarketsPairCorr
  0.64AVLVX American Century EtfPairCorr
  0.97AVSFX Avantis Short TermPairCorr
  0.63AVUVX Avantis Small CapPairCorr
  0.65AVUSX Avantis EquityPairCorr
  0.65AVUNX Avantis EquityPairCorr
  0.64ALCEX Avantis Large CapPairCorr
  0.68VBIRX Vanguard Short TermPairCorr
  0.67LALDX Lord Abbett ShortPairCorr
  0.68LDLRX Lord Abbett ShortPairCorr
  0.73IHOSX Hartford InternaPairCorr
  0.73GSIFX Goldman Sachs FocusedPairCorr
  0.67SSMOX Steward Small MidPairCorr
  0.68JANIX Janus TritonPairCorr

Moving against Avantis Mutual Fund

  0.45PQTAX Pimco Trends ManagedPairCorr
  0.44PQTNX Pimco Trends ManagedPairCorr
  0.43PQTIX Aa Pimco TrPairCorr
  0.42GPMFX Guidepath Managed FuturesPairCorr

Related Correlations Analysis

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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   
FIDAX
+ 0.99
PSSRX
FNPIX
+ 0.99
PSSRX
FNPIX
+ 0.99
FIDAX
PSSRX
+ 0.98
MSVIX
FIDAX
+ 0.98
ICFAX
FIDAX
+ 0.97
MSVIX
  
High negative correlations   
XFINX
- 0.49
MSVIX
FIDAX
- 0.43
XFINX
ICFAX
- 0.42
XFINX
PSSRX
- 0.41
XFINX
FNPIX
- 0.4
XFINX

Risk-Adjusted Indicators

There is a big difference between Avantis Mutual Fund performing well and Avantis Short 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 Short'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.

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