Vanguard California Correlations

VCAIX Fund

USD 11.45 0.01 0.09%

The current 90-days correlation between Vanguard California and Vanguard California Long Term is 0.97 (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

Very good diversification

The correlation between Vanguard California Intermedia and DJI is -0.29 (i.e., Very 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

0.82	VMLUX	Vanguard Limited Term	Pair Corr
0.82	VMLTX	Vanguard Limited Term	Pair Corr
0.69	VMSIX	Vanguard Multi Sector	Pair Corr
0.98	VNJUX	Vanguard New Jersey	Pair Corr
0.9	VNJTX	Vanguard New Jersey	Pair Corr
0.98	VNYTX	Vanguard New York	Pair Corr
0.98	VNYUX	Vanguard New York	Pair Corr
0.98	VOHIX	Vanguard Ohio Long	Pair Corr
0.62	VPADX	Vanguard Pacific Stock	Pair Corr
0.97	VPALX	Vanguard Pennsylvania	Pair Corr
0.97	VPAIX	Vanguard Pennsylvania	Pair Corr
0.62	VPKIX	Vanguard Pacific Stock	Pair Corr
0.78	VAIPX	Vanguard Inflation-protec	Pair Corr
0.83	VSCSX	Vanguard Short Term	Pair Corr
0.78	VSBIX	Vanguard Short Term	Pair Corr
0.79	VSBSX	Vanguard Short Term	Pair Corr

Moving against Vanguard Mutual Fund

0.36	VQNPX	Vanguard Growth And	Pair Corr
0.35	VSPGX	Vanguard Sp 500	Pair Corr
0.34	VSEMX	Vanguard Extended Market	Pair Corr
0.32	VSMVX	Vanguard Sp Small	Pair Corr
0.32	VSMPX	Vanguard Total Stock	Pair Corr
0.32	VSTSX	Vanguard Total Stock	Pair Corr
0.31	VSTCX	Vanguard Strategic	Pair Corr

Related Correlations Analysis

	VCITX	VMLTX	VWSTX	VCADX	VWITX
VCITX		0.82	0.34	0.99	0.99	VCITX
VMLTX	0.82		0.7	0.84	0.81	VMLTX
VWSTX	0.34	0.7		0.34	0.28	VWSTX
VCADX	0.99	0.84	0.34		0.99	VCADX
VWITX	0.99	0.81	0.28	0.99		VWITX
	VCITX	VMLTX	VWSTX	VCADX	VWITX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VCITX	0.16	0.02	(0.28)	(0.03)	0.24	(0.22)	0.35	(0.43)	1.57
VMLTX	0.07	0.00	(0.60)	(0.06)	0.00	(0.14)	0.18	(0.18)	0.74
VWSTX	0.04	0.00	(1.02)	(0.13)	0.00	(0.12)	0.13	(0.06)	0.51
VCADX	0.12	0.01	(0.42)	0.03	0.16	(0.18)	0.26	(0.35)	1.05
VWITX	0.12	0.01	(0.43)	0.05	0.16	(0.17)	0.22	(0.22)	1.03

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