Vela Large Correlations

Mutual Funds . USA . 
Fund . Vela Large Cap
VELIX Fund  USD 16.97  0.02  0.12%   
The current 90-days correlation between Vela Large Cap and Vela Income Opportunities is 0.48 (i.e., Very weak 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 0.89 (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 gross domestic product.

Moving together with Vela Mutual Fund

  0.93VASDX Vela Short DurationPairCorr
  0.95VEILX Vela InternationalPairCorr
  0.96VEITX Vela InternationalPairCorr
  0.98VELAX Vela Large CapPairCorr
  0.91VESMX Vela Small CapPairCorr
  0.9VESAX Vela Small CapPairCorr
  0.92VESDX Vela Short DurationPairCorr
  0.8VIOAX Vela Income OpportunitiesPairCorr
  0.81VIOIX Vela Income OpportunitiesPairCorr
  0.82VTSAX Vanguard Total StockPairCorr
  0.83VFIAX Vanguard 500 IndexPairCorr
  0.85VTSMX Vanguard Total StockPairCorr
  0.82VITSX Vanguard Total StockPairCorr
  0.85VSMPX Vanguard Total StockPairCorr
  0.82VSTSX Vanguard Total StockPairCorr
  0.84VFINX Vanguard 500 IndexPairCorr
  0.81VFFSX Vanguard 500 IndexPairCorr
  0.83VINIX Vanguard InstitutionalPairCorr
  0.83VIIIX Vanguard InstitutionalPairCorr
  0.85VTIAX Vanguard Total InterPairCorr
  0.65VBTLX Vanguard Total BondPairCorr
  0.96OIDYX Oppenheimer Intl DivPairCorr
  0.87BBALX Northern Global TacticalPairCorr
  0.87CISAX Copeland InternationalPairCorr
  0.88AAIPX American Beacon IntePairCorr
  0.9AACTX American Funds 2020PairCorr
  0.78EXMAX Eaton Vance ShortPairCorr
  0.86FSPSX Fidelity InternationalPairCorr
  0.75FEATX Fidelity Advisor EmergingPairCorr
  0.78AVEEX Avantis Emerging MarketsPairCorr
  0.94CSXRX Calvert Large CapPairCorr
  0.95PSTKX Stocksplus Fund InstPairCorr
  0.98TSAIX Tiaa Cref LifestylePairCorr
  0.92GCMTX Goldman Sachs MidPairCorr
  0.94FBGTX American Funds 2040PairCorr
  0.87ERBAX Eaton Vance RichardPairCorr
  0.89PEYAX Putnam Equity IncomePairCorr
  0.95ZGFIX 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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