Stock Index Correlations

Mutual Funds . USA . 
Fund . Stock Index Fund
VSTIX Fund  USD 63.19  0.25  0.40%   
The current 90-days correlation between Stock Index Fund and Old Westbury California is 0.2 (i.e., Modest diversification). The correlation of Stock Index 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.

Stock Index Correlation With Market

Very poor diversification

The correlation between Stock Index Fund and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Stock Index Fund 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 Stock Index Fund. 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 gross domestic product.

Moving together with Stock Mutual Fund

  0.99VMSGX Mid Cap StrategicPairCorr
  1.0VCGAX Growth IncomePairCorr
  0.98VCGEX Emerging EconomiesPairCorr
  0.97VVSGX Valic Company IPairCorr
  0.95VVSCX Valic Company IPairCorr
  0.98VHYLX Valic Company IPairCorr
  0.99VTSAX Vanguard Total StockPairCorr
  1.0VFIAX Vanguard 500 IndexPairCorr
  0.99VTSMX Vanguard Total StockPairCorr
  1.0VITSX Vanguard Total StockPairCorr
  0.99VSMPX Vanguard Total StockPairCorr
  0.99VSTSX Vanguard Total StockPairCorr
  1.0VFINX Vanguard 500 IndexPairCorr
  0.99VFFSX Vanguard 500 IndexPairCorr
  1.0VINIX Vanguard InstitutionalPairCorr
  1.0VIIIX Vanguard InstitutionalPairCorr
  0.77GAAKX Gmo Alternative AlloPairCorr
  0.75GAAGX Gmo Alternative AlloPairCorr
  0.68GPBFX Gmo E PlusPairCorr
  0.99TRROX T Rowe PricePairCorr
  0.95AGEAX Arbitrage EventPairCorr
  0.99FZROX Fidelity Zero TotalPairCorr
  0.99FWWNX American Funds NewPairCorr
  0.98VEMRX Vanguard Emerging MarketsPairCorr
  0.98RRMVX T Rowe PricePairCorr
  0.99VSTCX Vanguard StrategicPairCorr
  1.0CGJIX Calvert Large CapPairCorr
  1.0GEQZX Equity Index InvestorPairCorr
  0.98EITEX Parametric Tax ManagedPairCorr
  0.76CSIBX Calvert Bond PortfolioPairCorr
  1.0NWMAX Nationwide DestinationPairCorr
  0.89GLOIX Gamco Global OpportunityPairCorr
  0.97MMIUX Massmutual SelectPairCorr
  0.98VEMIX Vanguard Emerging MarketsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Stock Mutual Fund performing well and Stock Index 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 Stock Index'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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