Vanguard California Correlations

Mutual Funds . USA . 
Fund . Vanguard California Intermediate Term
VCAIX Fund  USD 11.36  0.02  0.18%   
The current 90-days correlation between Vanguard California and Vanguard California Long Term is 0.24 (i.e., Modest 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

Good diversification

The correlation between Vanguard California Intermedia and DJI is -0.11 (i.e., Good 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 gross domestic product.

Moving together with Vanguard Mutual Fund

  0.84VMLUX Vanguard Limited TermPairCorr
  0.84VMLTX Vanguard Limited TermPairCorr
  0.65VMNVX Vanguard Global MinimumPairCorr
  0.65VMSIX Vanguard Multi SectorPairCorr
  0.61VMVFX Vanguard Global MinimumPairCorr
  0.8VNJUX Vanguard New JerseyPairCorr
  0.94VNJTX Vanguard New JerseyPairCorr
  0.94VNYTX Vanguard New YorkPairCorr
  0.91VNYUX Vanguard New YorkPairCorr
  0.99VOHIX Vanguard Ohio LongPairCorr
  0.67VPADX Vanguard Pacific StockPairCorr
  0.69VPACX Vanguard Pacific StockPairCorr
  0.63VPCCX Vanguard PrimecapPairCorr
  0.99VPALX Vanguard PennsylvaniaPairCorr
  0.99VPAIX Vanguard PennsylvaniaPairCorr
  0.69VPKIX Vanguard Pacific StockPairCorr
  0.65VPMCX Vanguard PrimecapPairCorr
  0.66NAESX Vanguard Small CapPairCorr
  0.69VQNPX Vanguard Growth AndPairCorr
  0.65VADGX Vanguard Advice SelectPairCorr
  0.7VAGVX Vanguard Advice SelectPairCorr
  0.75VAIPX Vanguard Inflation-protecPairCorr
  0.66VSCIX Vanguard Small CapPairCorr
  0.63VSCGX Vanguard LifestrategyPairCorr
  0.66VSCPX Vanguard Small CapPairCorr
  0.66VSEMX Vanguard Extended MarketPairCorr
  0.67VSEQX Vanguard Strategic EquityPairCorr
  0.64VASGX Vanguard LifestrategyPairCorr

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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