Vanguard California Correlations

Mutual Funds . USA . 
Fund . Vanguard California Intermediate Term
VCADX Fund  USD 11.14  0.01  0.09%   
The current 90-days correlation between Vanguard California and Vanguard California Long Term is 0.99 (i.e., No risk reduction). The correlation of Vanguard California 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.

Vanguard California Correlation With Market

Very good diversification

The correlation between Vanguard California Intermedia and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard California Intermedia and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Vanguard California Intermediate Term. 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 unemployment.

Moving together with Vanguard Mutual Fund

  0.63VMIAX Vanguard Materials IndexPairCorr
  0.93VMLUX Vanguard Limited TermPairCorr
  0.93VMLTX Vanguard Limited TermPairCorr
  0.67VMMSX Vanguard Emerging MarketsPairCorr
  0.71VMSIX Vanguard Multi SectorPairCorr
  0.64VMVAX Vanguard Mid CapPairCorr
  0.64VMVIX Vanguard Mid CapPairCorr
  0.68VMVLX Vanguard Mega CapPairCorr
  0.98VNJUX Vanguard New JerseyPairCorr
  0.98VNJTX Vanguard New JerseyPairCorr
  0.97VNYTX Vanguard New YorkPairCorr
  0.97VNYUX Vanguard New YorkPairCorr
  0.99VOHIX Vanguard Ohio LongPairCorr
  0.66VPCCX Vanguard PrimecapPairCorr
  0.99VPALX Vanguard PennsylvaniaPairCorr
  0.91VPAIX Vanguard PennsylvaniaPairCorr
  0.8VPMCX Vanguard PrimecapPairCorr
  0.69VPMAX Vanguard PrimecapPairCorr
  0.77VRTPX Vanguard Reit IiPairCorr
  0.64VADGX Vanguard Advice SelectPairCorr
  0.67VAGVX Vanguard Advice SelectPairCorr
  0.64VSCGX Vanguard LifestrategyPairCorr
  0.63VSCPX Vanguard Small CapPairCorr

Moving against Vanguard Mutual Fund

  0.53VSBSX Vanguard Short TermPairCorr
  0.5VSBIX Vanguard Short TermPairCorr
  0.36VSGDX Vanguard Short TermPairCorr
  0.36VSGBX Vanguard Short TermPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Vanguard Mutual Fund performing well and Vanguard California 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 Vanguard California'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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