Value Line Correlations

VALIX Fund

USD 14.59 0.03 0.21%

The current 90-days correlation between Value Line Income and Value Line Income is 1.0 (i.e., No risk reduction). The correlation of Value Line 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.

Value Line Correlation With Market

Very weak diversification

The correlation between Value Line Income and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Value Line Income 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 Value Line Income. 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.

For more information on how to buy Value Mutual Fund please use our How to Invest in Value Line guide.

Moving together with Value Mutual Fund

0.8	VALLX	Value Line Larger	Pair Corr
0.65	VALSX	Value Line Premier	Pair Corr
0.65	VILSX	Value Line Select	Pair Corr
0.67	VLAAX	Value Line Asset	Pair Corr
0.68	VLAIX	Value Line Asset	Pair Corr
0.72	VLEIX	Value Line Small	Pair Corr
0.74	VLEOX	Value Line Small	Pair Corr
1.0	VLIIX	Value Line Income	Pair Corr
0.8	VLLIX	Value Line Larger	Pair Corr
0.82	BALCX	American Balanced	Pair Corr
0.82	FBONX	American Funds American	Pair Corr
0.82	FBAFX	American Funds American	Pair Corr
0.83	RLBCX	American Balanced	Pair Corr
0.83	RLBBX	American Balanced	Pair Corr
0.83	CLBEX	American Balanced	Pair Corr
0.82	RLBFX	American Balanced	Pair Corr
0.79	GQLOX	Gmo Quality Fund	Pair Corr
0.65	GHVIX	Gmo High Yield	Pair Corr

Moving against Value Mutual Fund

0.35	GAAVX	Gmo Alternative Allo	Pair Corr
0.31	BFGUX	Baron Focused Growth	Pair Corr

Related Correlations Analysis

	VLIIX	TUHYX	BDAFX	MNBAX	WSCGX	MCGFX	BTBFX	VKQ	NVSCX	RSIGX
VLIIX		-0.04	0.49	0.86	0.84	0.78	0.1	0.04	-0.14	-0.02	VLIIX
TUHYX	-0.04		0.53	-0.16	0.23	-0.38	0.49	0.37	0.46	0.71	TUHYX
BDAFX	0.49	0.53		0.12	0.53	0.01	0.28	0.46	0.24	0.65	BDAFX
MNBAX	0.86	-0.16	0.12		0.8	0.86	0.13	-0.13	-0.13	-0.31	MNBAX
WSCGX	0.84	0.23	0.53	0.8		0.61	0.32	0.11	0.04	0.17	WSCGX
MCGFX	0.78	-0.38	0.01	0.86	0.61		-0.37	-0.3	-0.26	-0.48	MCGFX
BTBFX	0.1	0.49	0.28	0.13	0.32	-0.37		0.28	0.23	0.44	BTBFX
VKQ	0.04	0.37	0.46	-0.13	0.11	-0.3	0.28		0.34	0.55	VKQ
NVSCX	-0.14	0.46	0.24	-0.13	0.04	-0.26	0.23	0.34		0.15	NVSCX
RSIGX	-0.02	0.71	0.65	-0.31	0.17	-0.48	0.44	0.55	0.15		RSIGX
	VLIIX	TUHYX	BDAFX	MNBAX	WSCGX	MCGFX	BTBFX	VKQ	NVSCX	RSIGX

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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

MNBAX	+ 0.86	VLIIX
MCGFX	+ 0.86	MNBAX
WSCGX	+ 0.84	VLIIX
WSCGX	+ 0.8	MNBAX
MCGFX	+ 0.78	VLIIX
RSIGX	+ 0.71	TUHYX

High negative correlations

RSIGX	- 0.48	MCGFX
MCGFX	- 0.38	TUHYX
BTBFX	- 0.37	MCGFX
RSIGX	- 0.31	MNBAX
VKQ	- 0.3	MCGFX
NVSCX	- 0.26	MCGFX

Risk-Adjusted Indicators

There is a big difference between Value Mutual Fund performing well and Value Line 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 Value Line'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VLIIX	0.81	(0.12)	0.00	(0.05)	0.00	0.00	1.60	(1.92)	9.68
TUHYX	0.13	0.01	(0.31)	(0.18)	0.07	(0.23)	0.48	(0.24)	1.08
BDAFX	0.71	(0.03)	(0.02)	0.04	1.12	(0.64)	1.25	(1.47)	4.74
MNBAX	0.53	(0.13)	0.00	(0.36)	0.00	0.00	0.83	(0.76)	10.44
WSCGX	1.09	(0.17)	0.00	(0.05)	0.00	0.00	1.70	(2.09)	12.89
MCGFX	1.31	(0.53)	0.00	(0.24)	0.00	0.00	1.33	(1.65)	32.50
BTBFX	0.68	0.02	(0.02)	0.36	2.13	(0.64)	0.79	(0.70)	22.47
VKQ	0.34	0.02	(0.09)	0.17	0.41	(0.37)	0.75	(0.73)	1.99
NVSCX	0.62	0.03	(0.03)	0.51	0.64	(1.02)	1.67	(1.49)	4.35
RSIGX	0.60	0.01	(0.01)	0.08	0.74	(0.61)	1.16	(1.27)	2.85

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