Value Line Correlations

VALIX Fund

USD 13.59 0.12 0.88%

The current 90-days correlation between Value Line Income and Victory Rs International is 0.41 (i.e., Very weak diversification). 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 good diversification

The correlation between Value Line Income and DJI is -0.44 (i.e., Very good 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

0.95	VALLX	Value Line Larger	Pair Corr
0.88	VALSX	Value Line Premier	Pair Corr
0.87	VILSX	Value Line Select	Pair Corr
0.88	VLAAX	Value Line Asset	Pair Corr
0.95	VLLIX	Value Line Larger	Pair Corr

Moving against VALUE Mutual Fund

0.71	VLEOX	Value Line Small	Pair Corr
0.62	VLEIX	Value Line Small	Pair Corr
0.54	RLBCX	American Balanced	Pair Corr
0.54	CLBAX	American Balanced	Pair Corr
0.54	CLBEX	American Balanced	Pair Corr
0.53	RLBBX	American Balanced	Pair Corr
0.51	BALCX	American Balanced	Pair Corr
0.48	FBONX	American Funds American	Pair Corr
0.48	FBAFX	American Funds American	Pair Corr
0.47	BALFX	American Balanced	Pair Corr
0.46	ABALX	American Balanced	Pair Corr
0.85	DRLYX	Dreyfus Global Real	Pair Corr
0.82	RFXAX	Rational Special Sit	Pair Corr
0.81	ECORX	Eaton Vance Oregon	Pair Corr
0.8	FKTNX	Franklin Michigan Tax	Pair Corr
0.78	JMCVX	Perkins Mid Cap	Pair Corr
0.76	SVXAX	Smead Funds Trust	Pair Corr
0.75	HRMVX	Harbor Mid Cap	Pair Corr
0.73	HLDIX	Hartford Emerging	Pair Corr
0.73	HLDRX	Hartford Emerging	Pair Corr
0.73	HLDAX	Hartford Emerging	Pair Corr
0.71	HLDCX	Hartford Emerging	Pair Corr
0.71	HLDTX	Hartford Emerging	Pair Corr
0.69	MGGYX	Mirova Global Green	Pair Corr
0.54	RLBFX	American Balanced	Pair Corr
0.41	ALBAX	Alger Growth Income	Pair Corr

Related Correlations Analysis

	TUHYX	BDAFX	MNBAX	MCGFX	WSCGX	VKQ	GUBGX
TUHYX		-0.07	0.56	-0.44	0.61	0.76	0.87	TUHYX
BDAFX	-0.07		0.18	-0.03	0.13	-0.5	-0.31	BDAFX
MNBAX	0.56	0.18		-0.96	0.95	0.19	0.33	MNBAX
MCGFX	-0.44	-0.03	-0.96		-0.88	-0.17	-0.24	MCGFX
WSCGX	0.61	0.13	0.95	-0.88		0.24	0.37	WSCGX
VKQ	0.76	-0.5	0.19	-0.17	0.24		0.85	VKQ
GUBGX	0.87	-0.31	0.33	-0.24	0.37	0.85		GUBGX
	TUHYX	BDAFX	MNBAX	MCGFX	WSCGX	VKQ	GUBGX

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

WSCGX	+ 0.95	MNBAX
GUBGX	+ 0.87	TUHYX
GUBGX	+ 0.85	VKQ
VKQ	+ 0.76	TUHYX
WSCGX	+ 0.61	TUHYX
MNBAX	+ 0.56	TUHYX

High negative correlations

MCGFX	- 0.96	MNBAX
WSCGX	- 0.88	MCGFX
VKQ	- 0.5	BDAFX
MCGFX	- 0.44	TUHYX
GUBGX	- 0.31	BDAFX
GUBGX	- 0.24	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
TUHYX	0.09	0.00	(0.19)	0.00	0.03	(0.17)	0.12	(0.24)	0.95
BDAFX	0.76	(0.02)	0.00	0.16	0.00	0.00	1.20	(1.74)	4.28
MNBAX	0.54	0.18	0.27	(0.89)	0.11	(0.71)	0.88	(0.87)	10.15
MCGFX	1.29	(0.38)	0.00	(1.03)	0.00	0.00	1.49	(1.64)	31.84
WSCGX	0.97	0.26	0.20	(2.19)	0.76	(1.15)	1.81	(1.88)	12.03
VKQ	0.32	0.07	0.09	1.24	0.18	(0.40)	0.74	(0.52)	1.47
GUBGX	0.62	0.17	0.13	(0.78)	0.65	(0.66)	1.28	(1.50)	4.07

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