Vanguard Small Correlations

Mutual Funds . USA . 
Fund . Vanguard Small Cap Index
NAESX Fund  USD 121.55  1.92  1.60%   
The current 90-days correlation between Vanguard Small Cap and Vanguard Mid Cap Index is 0.96 (i.e., Almost no diversification). The correlation of Vanguard Small 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 Small Correlation With Market

Very poor diversification

The correlation between Vanguard Small Cap Index 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 Vanguard Small Cap Index and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Vanguard Small Cap Index. 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 state.

Moving together with Vanguard Mutual Fund

  0.68VMIAX Vanguard Materials IndexPairCorr
  0.66VMNVX Vanguard Global MinimumPairCorr
  0.7VPMAX Vanguard PrimecapPairCorr
  0.95VSCIX Vanguard Small CapPairCorr
  0.96VSMVX Vanguard Sp SmallPairCorr
  0.96VSMSX Vanguard Sp SmallPairCorr
  0.98VSMPX Vanguard Total StockPairCorr
  0.98VSTSX Vanguard Total StockPairCorr
  0.99VSTCX Vanguard StrategicPairCorr
  0.72VTHRX Vanguard Target RetiPairCorr
  0.98VTSAX Vanguard Total StockPairCorr
  0.74VTTHX Vanguard Target RetiPairCorr
  0.66VTTVX Vanguard Target RetiPairCorr

Moving against Vanguard Mutual Fund

  0.75VSIGX Vanguard Intermediate-terPairCorr
  0.73VBLIX Vanguard Long TermPairCorr
  0.73VBLAX Vanguard Long TermPairCorr
  0.69VBLLX Vanguard Long TermPairCorr
  0.69VBMFX Vanguard Total BondPairCorr
  0.69VTBIX Vanguard Total BondPairCorr
  0.69VTBSX Vanguard Total BondPairCorr
  0.69VTBNX Vanguard Total BondPairCorr
  0.5VBISX Vanguard Short TermPairCorr
  0.5VBITX Vanguard Short TermPairCorr
  0.41VBIRX Vanguard Short TermPairCorr
  0.71VFIIX Vanguard GnmaPairCorr
  0.7VFIJX Vanguard GnmaPairCorr
  0.69VBTIX Vanguard Total BondPairCorr
  0.66VWETX Vanguard Long TermPairCorr
  0.65VBTLX Vanguard Total BondPairCorr
  0.63VWESX Vanguard Long TermPairCorr
  0.45VDVIX Vanguard DevelopedPairCorr
  0.44VDIPX Vanguard DevelopedPairCorr
  0.43VTMGX Vanguard DevelopedPairCorr
  0.43VTMNX Vanguard DevelopedPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

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