Vela Large Correlations

Mutual Funds USA . 
Fund . Vela Large Cap
VELAX Fund  USD 18.15  0.03  0.17%   
The current 90-days correlation between Vela Large Cap and Champlain Mid Cap is 0.89 (i.e., Very poor diversification). The correlation of Vela Large 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 Large Correlation With Market

Almost no diversification

The correlation between Vela Large Cap and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vela Large Cap 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 Large Cap. 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 nation.

Moving together with Vela Mutual Fund

  1.0VELIX Vela Large CapPairCorr
  0.92VESMX Vela Small CapPairCorr
  0.91VESAX Vela Small CapPairCorr
  0.96VIOAX Vela Income OpportunitiesPairCorr
  0.96VIOIX Vela Income OpportunitiesPairCorr
  0.98VTSAX Vanguard Total StockPairCorr
  0.98VFIAX Vanguard 500 IndexPairCorr
  0.98VTSMX Vanguard Total StockPairCorr
  0.98VITSX Vanguard Total StockPairCorr
  0.98VSMPX Vanguard Total StockPairCorr
  0.98VSTSX Vanguard Total StockPairCorr
  0.98VFINX Vanguard 500 IndexPairCorr
  0.98VFFSX Vanguard 500 IndexPairCorr
  0.98VINIX Vanguard InstitutionalPairCorr
  0.98VIIIX Vanguard InstitutionalPairCorr
  0.93WCPSX Mobile TelecommunicatioPairCorr
  0.96CSQ Calamos Strategic TotalPairCorr
  0.98VSEQX Vanguard Strategic EquityPairCorr
  0.82JPYRX Jpmorgan SmartretirementPairCorr
  0.91VTWAX Vanguard Total WorldPairCorr
  0.91BALFX American BalancedPairCorr
  0.9DFMGX Df Dent MidcapPairCorr
  0.74FHCOX Federated Hermes ConPairCorr
  0.62NADCX Nationwide InvestorPairCorr
  0.7JRI Nuveen Real AssetPairCorr
  0.98SWPPX Schwab Sp 500PairCorr
  0.66PFN Pimco Income StrategyPairCorr
  0.96ARIDX Amg River RoadPairCorr
  0.76GQLOX Gmo Quality FundPairCorr
  0.97VFTAX Vanguard Ftse SocialPairCorr

Moving against Vela Mutual Fund

  0.41VEILX Vela InternationalPairCorr
  0.4VEITX Vela InternationalPairCorr
  0.62PFHCX Pacific Funds SmallPairCorr
  0.34NHS Neuberger Berman HighPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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