Vela International Correlations

Mutual Funds USA . 
Fund . Vela International
VEITX Fund  USD 13.46  0.09  0.67%   
The current 90-days correlation between Vela International and Allianzgi Convertible Income is 0.49 (i.e., Very weak diversification). The correlation of Vela International 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.

Vela International Correlation With Market

Modest diversification

The correlation between Vela International and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vela International 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 Vela International. 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 estimate.

Moving together with Vela Mutual Fund

  1.0VEILX Vela InternationalPairCorr
  0.94VGTSX Vanguard Total InterPairCorr
  0.93VTIAX Vanguard Total InterPairCorr
  0.93VTSNX Vanguard Total InterPairCorr
  0.93VTPSX Vanguard Total InterPairCorr
  0.93VTISX Vanguard Total InterPairCorr
  0.96VTMGX Vanguard DevelopedPairCorr
  0.96VDVIX Vanguard DevelopedPairCorr
  0.96VTMNX Vanguard DevelopedPairCorr
  0.96VDIPX Vanguard DevelopedPairCorr
  0.96FSPSX Fidelity InternationalPairCorr

Moving against Vela Mutual Fund

  0.43VIOIX Vela Income OpportunitiesPairCorr
  0.41VIOAX Vela Income OpportunitiesPairCorr
  0.4VELAX Vela Large CapPairCorr
  0.4VELIX Vela Large CapPairCorr
  0.32VESMX Vela Small CapPairCorr
  0.32VESAX Vela Small CapPairCorr
  0.67FTCAX Templeton Strained BondPairCorr
  0.64FCWRX Templeton China WorldPairCorr
  0.59FHCOX Federated Hermes ConPairCorr
  0.57FSRFX Transportation PortfolioPairCorr
  0.48ANCIX Ancora MicrocapPairCorr
  0.48VIGAX Vanguard Growth IndexPairCorr
  0.47BCAAX Brandywineglobal CPairCorr
  0.46PYARX Payden Absolute ReturnPairCorr
  0.44RYMDX Mid Cap 15x Steady GrowthPairCorr
  0.42PYAIX Payden Absolute ReturnPairCorr
  0.48ILESX Fisher InvestmentsPairCorr
  0.46ARIDX Amg River RoadPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Vela Mutual Fund performing well and Vela International 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 Vela International'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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