Vanguard California Correlations

Mutual Funds . USA . 
Fund . Vanguard California Intermediate Term
VCADX Fund  USD 11.32  0.01  0.09%   
The current 90-days correlation between Vanguard California and Vanguard California Long Term is 0.98 (i.e., Almost no diversification). The correlation of Vanguard California 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 California Correlation With Market

Average diversification

The correlation between Vanguard California Intermedia and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard California Intermedia 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 California Intermediate Term. 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 unemployment.

Moving together with Vanguard Mutual Fund

  0.89VMLUX Vanguard Limited TermPairCorr
  0.89VMLTX Vanguard Limited TermPairCorr
  0.82VMSIX Vanguard Multi SectorPairCorr
  0.99VNJUX Vanguard New JerseyPairCorr
  0.98VNJTX Vanguard New JerseyPairCorr
  0.98VNYTX Vanguard New YorkPairCorr
  0.99VOHIX Vanguard Ohio LongPairCorr
  0.98VPALX Vanguard PennsylvaniaPairCorr
  0.99VPAIX Vanguard PennsylvaniaPairCorr
  0.62NAESX Vanguard Small CapPairCorr
  0.62VQNPX Vanguard Growth AndPairCorr
  0.62VAIPX Vanguard Inflation-protecPairCorr
  0.62VSCIX Vanguard Small CapPairCorr
  0.62VSCPX Vanguard Small CapPairCorr
  0.62VSCSX Vanguard Short TermPairCorr
  0.62VSEQX Vanguard Strategic EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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