Vanguard Developed Correlations

Mutual Funds . USA . 
Fund . Vanguard Developed Markets
VTMGX Fund  USD 19.24  0.06  0.31%   
The current 90-days correlation between Vanguard Developed and Calvert Global Energy is 0.86 (i.e., Very poor diversification). The correlation of Vanguard Developed 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 Developed Correlation With Market

Poor diversification

The correlation between Vanguard Developed Markets and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard Developed Markets 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 Developed Markets. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Vanguard Mutual Fund

  0.99VGTSX Vanguard Total InterPairCorr
  0.99VTIAX Vanguard Total InterPairCorr
  0.99VTSNX Vanguard Total InterPairCorr
  0.99VTPSX Vanguard Total InterPairCorr
  0.99VTISX Vanguard Total InterPairCorr
  1.0VDVIX Vanguard DevelopedPairCorr
  1.0VTMNX Vanguard DevelopedPairCorr
  1.0VDIPX Vanguard DevelopedPairCorr
  0.99FSPSX Fidelity InternationalPairCorr
  0.8XDSMX Dreyfus StrategicPairCorr
  0.8XNXJX Nuveen New JerseyPairCorr
  0.81NXJ Nuveen New JerseyPairCorr
  0.76XNBHX Neuberger Berman IntPairCorr
  0.8IBM International BusinessPairCorr
  0.8AA Alcoa CorpPairCorr
  0.8GE GE AerospacePairCorr
  0.78INTC Intel Aggressive PushPairCorr
  0.65AXP American ExpressPairCorr
  0.74CAT CaterpillarPairCorr
  0.61BAC Bank of AmericaPairCorr

Moving against Vanguard Mutual Fund

  0.38CVX Chevron Corp Sell-off TrendPairCorr
  0.34PCF Putnam High IncomePairCorr
  0.7T ATT IncPairCorr
  0.58PG Procter GamblePairCorr
  0.45MCD McDonaldsPairCorr
  0.42BA BoeingPairCorr
  0.35DIS Walt DisneyPairCorr

Related Correlations Analysis


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

ALTEX
+ 0.89
CAEIX
GMOWX
+ 0.85
CAEIX
IGNAX
+ 0.84
CAEIX
IGNAX
+ 0.82
ALTEX
IGNAX
+ 0.78
GMOWX
GMOWX
+ 0.64
ALTEX
  

High negative correlations

ALTEX
- 0.16
VENAX

Risk-Adjusted Indicators

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