Vanguard Commodity Correlations

Mutual Funds . USA . 
Fund . Vanguard Commodity Strategy
VCMDX Fund  USD 28.09  0.02  0.07%   
The current 90-days correlation between Vanguard Commodity and Vanguard Energy Index is 0.36 (i.e., Weak diversification). The correlation of Vanguard Commodity 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 Commodity Correlation With Market

Very good diversification

The correlation between Vanguard Commodity Strategy and DJI is -0.36 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard Commodity Strategy 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 Commodity Strategy. 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

  0.71VMLUX Vanguard Limited TermPairCorr
  0.7VMLTX Vanguard Limited TermPairCorr
  0.67VMMSX Vanguard Emerging MarketsPairCorr
  0.66VPADX Vanguard Pacific StockPairCorr
  0.66VPACX Vanguard Pacific StockPairCorr
  0.63VPCCX Vanguard PrimecapPairCorr
  0.65VPKIX Vanguard Pacific StockPairCorr
  0.63VPMCX Vanguard PrimecapPairCorr
  0.63VPMAX Vanguard PrimecapPairCorr
  0.66VSCGX Vanguard LifestrategyPairCorr
  0.69VSCSX Vanguard Short TermPairCorr
  0.67VSBIX Vanguard Short TermPairCorr
  0.63VSBSX Vanguard Short TermPairCorr

Moving against Vanguard Mutual Fund

  0.33VNYTX Vanguard New YorkPairCorr
  0.32VPALX Vanguard PennsylvaniaPairCorr
  0.32VPAIX Vanguard PennsylvaniaPairCorr

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   
VUIAX
+ 0.56
VENAX
VCSAX
+ 0.28
VMNFX
VUIAX
+ 0.22
VCSAX
VASFX
+ 0.0
VENAX
VASFX
+ 0.0
VMNFX
VASFX
+ 0.0
VCSAX
  
High negative correlations   
VUIAX
- 0.29
VMNFX
VCSAX
- 0.19
VENAX
VMNFX
- 0.09
VENAX
VUIAX
- 0.0
VASFX
VASFX
- 0.0
VCSAX
VASFX
- 0.0
VMNFX

Risk-Adjusted Indicators

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