Vanguard High Correlations

Mutual Funds . USA . 
Fund . Vanguard High Yield Tax Exempt
VWALX Fund  USD 10.86  0.02  0.18%   
The current 90-days correlation between Vanguard High Yield and Vanguard Long Term Tax Exempt is 0.4 (i.e., Very weak diversification). The correlation of Vanguard High 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 High Correlation With Market

Very good diversification

The correlation between Vanguard High Yield Tax Exempt and DJI is -0.39 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard High Yield Tax Exempt 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 High Yield Tax Exempt. 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 bureau of economic analysis.

Moving together with Vanguard Mutual Fund

  0.95VMLUX Vanguard Limited TermPairCorr
  0.95VMLTX Vanguard Limited TermPairCorr
  0.69VMNVX Vanguard Global MinimumPairCorr
  0.67VMNIX Vanguard Market NeutralPairCorr
  0.64VMNFX Vanguard Market NeutralPairCorr
  0.89VMSIX Vanguard Multi SectorPairCorr
  0.77VMVAX Vanguard Mid CapPairCorr
  0.77VMVIX Vanguard Mid CapPairCorr
  0.71VMVFX Vanguard Global MinimumPairCorr
  0.7VMVLX Vanguard Mega CapPairCorr
  0.97VNJUX Vanguard New JerseyPairCorr
  1.0VNJTX Vanguard New JerseyPairCorr
  0.97VNYTX Vanguard New YorkPairCorr
  0.97VNYUX Vanguard New YorkPairCorr
  0.97VOHIX Vanguard Ohio LongPairCorr
  0.97VPALX Vanguard PennsylvaniaPairCorr
  0.97VPAIX Vanguard PennsylvaniaPairCorr
  0.86VRTPX Vanguard Reit IiPairCorr
  0.79VADGX Vanguard Advice SelectPairCorr
  0.9VAIPX Vanguard InflationPairCorr
  0.75VSCGX Vanguard LifestrategyPairCorr
  0.92VSCSX Vanguard Short TermPairCorr
  0.92VSBIX Vanguard Short TermPairCorr
  0.95VSBSX 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 High 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 High'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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