Vela Large Correlations

Mutual Funds . USA . 
Fund . Vela Large Cap
VELAX Fund  USD 17.05  0.12  0.71%   
The current 90-days correlation between Vela Large Cap and Vela Income Opportunities is -0.14 (i.e., Good 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

Very poor diversification

The correlation between Vela Large Cap and DJI is 0.88 (i.e., Very poor 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

  0.95VASDX Vela Short DurationPairCorr
  0.96VEILX Vela InternationalPairCorr
  0.96VEITX Vela InternationalPairCorr
  0.98VELIX Vela Large CapPairCorr
  0.9VESMX Vela Small CapPairCorr
  0.92VESAX Vela Small CapPairCorr
  0.92VESDX Vela Short DurationPairCorr
  0.85VIOAX Vela Income OpportunitiesPairCorr
  0.84VIOIX Vela Income OpportunitiesPairCorr
  0.85VTSAX Vanguard Total StockPairCorr
  0.82VFIAX Vanguard 500 IndexPairCorr
  0.83VTSMX Vanguard Total StockPairCorr
  0.84VITSX Vanguard Total StockPairCorr
  0.84VSMPX Vanguard Total StockPairCorr
  0.85VSTSX Vanguard Total StockPairCorr
  0.82VFINX Vanguard 500 IndexPairCorr
  0.83VFFSX Vanguard 500 IndexPairCorr
  0.82VINIX Vanguard InstitutionalPairCorr
  0.82VIIIX Vanguard InstitutionalPairCorr
  0.89VTIAX Vanguard Total InterPairCorr
  0.68VBTLX Vanguard Total BondPairCorr
  0.94OIDYX Oppenheimer Intl DivPairCorr
  0.89BBALX Northern Global TacticalPairCorr
  0.91CISAX Copeland InternationalPairCorr
  0.91AAIPX American Beacon IntePairCorr
  0.94AACTX American Funds 2020PairCorr
  0.82EXMAX Eaton Vance ShortPairCorr
  0.9FSPSX Fidelity InternationalPairCorr
  0.75FEATX Fidelity Advisor EmergingPairCorr
  0.84AVEEX Avantis Emerging MarketsPairCorr
  0.93CSXRX Calvert Large CapPairCorr
  0.95PSTKX Stocksplus Fund InstPairCorr
  0.97TSAIX Tiaa Cref LifestylePairCorr
  0.92GCMTX Goldman Sachs MidPairCorr
  0.66VGISX Virtus Global RealPairCorr
  0.96FBGTX American Funds 2040PairCorr
  0.91ERBAX Eaton Vance RichardPairCorr
  0.93PEYAX Putnam Equity IncomePairCorr
  0.98ZGFIX Investec Global FranchisePairCorr

Related Correlations Analysis


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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