Vela Large Correlations

Mutual Funds . USA . 
Fund . Vela Large Cap
VELIX Fund  USD 18.30  0.10  0.55%   
The current 90-days correlation between Vela Large Cap and Vela International is 0.4 (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

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 gross domestic product.

Moving together with Vela Mutual Fund

  1.0VELAX Vela Large CapPairCorr
  0.86VESMX Vela Small CapPairCorr
  0.85VESAX Vela Small CapPairCorr
  0.95VIOAX Vela Income OpportunitiesPairCorr
  0.95VIOIX 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
  0.87AMECX Income FundPairCorr
  0.98HCMNX Hcm Dividend SectorPairCorr
  0.95MUTHX Franklin Mutual SharesPairCorr
  0.97RICEX Investment Of AmericaPairCorr
  0.72BSCXX Northern InstitutionalPairCorr
  0.73SSCKX State Street TargetPairCorr
  0.97TLWCX Tiaa Cref SocialPairCorr
  0.94RNGEX New Economy FundPairCorr
  0.96GSFTX Columbia Dividend IncomePairCorr
  0.9OSVCX Jpmorgan Small CapPairCorr
  0.9LACFX Lord Abbett VertiblePairCorr
  0.9FBMTX American Funds 2065PairCorr
  0.94TMFCX Touchstone Mid CapPairCorr
  0.96FIFRX Franklin GrowthPairCorr
  0.79RULFX Rbc Ultra ShortPairCorr
  0.97JGMAX Janus TritonPairCorr
  0.98BMSYX Mfs Blended ResearchPairCorr
  0.98BSPIX Blackrock Sp 500PairCorr

Moving against Vela Mutual Fund

  0.34VEILX Vela InternationalPairCorr
  0.34VEITX Vela InternationalPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
VEITX
+ 1.0
VEILX
VESAX
+ 1.0
VESMX
VIOIX
+ 1.0
VIOAX
VIOIX
+ 0.85
VESMX
VIOIX
+ 0.85
VESAX
VIOAX
+ 0.84
VESMX
  
High negative correlations   
VIOIX
- 0.38
VEITX
VIOIX
- 0.38
VEILX
VIOAX
- 0.35
VEITX
VIOAX
- 0.35
VEILX
VESAX
- 0.19
VEITX
VESMX
- 0.19
VEITX

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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