Victory Select Correlations

VFSAX Fund

USD 29.37 0.11 0.38%

The current 90-days correlation between Victory Select and Vanguard Global Ex Us is 0.84 (i.e., Very poor diversification). The correlation of Victory Select 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.

Victory Select Correlation With Market

Very weak diversification

The correlation between Victory Select Fund and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Victory Select Fund 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 Victory Select Fund. 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 Victory Mutual Fund

0.71	VMMSX	Vanguard Emerging Markets	Pair Corr
0.64	VMNIX	Vanguard Market Neutral	Pair Corr
0.64	VMNFX	Vanguard Market Neutral	Pair Corr
0.91	VPADX	Vanguard Pacific Stock	Pair Corr
0.84	VPACX	Vanguard Pacific Stock	Pair Corr
0.91	VPKIX	Vanguard Pacific Stock	Pair Corr
0.69	VAIPX	Vanguard Inflation-protec	Pair Corr
0.67	VSCGX	Vanguard Lifestrategy	Pair Corr

Moving against Victory Mutual Fund

0.36	VSEMX	Vanguard Extended Market	Pair Corr
0.31	VSCPX	Vanguard Small Cap	Pair Corr
0.31	VSGAX	Vanguard Small Cap	Pair Corr
0.31	VSGIX	Vanguard Small Cap	Pair Corr
0.31	VSMAX	Vanguard Small Cap	Pair Corr

Related Correlations Analysis

	VGRLX	VFWAX	VTMGX	VIAAX	VEMAX
VGRLX		0.88	0.93	0.92	0.35	VGRLX
VFWAX	0.88		0.91	0.86	0.66	VFWAX
VTMGX	0.93	0.91		0.98	0.29	VTMGX
VIAAX	0.92	0.86	0.98		0.22	VIAAX
VEMAX	0.35	0.66	0.29	0.22		VEMAX
	VGRLX	VFWAX	VTMGX	VIAAX	VEMAX

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Risk-Adjusted Indicators

There is a big difference between Victory Mutual Fund performing well and Victory Select 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 Victory Select'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VGRLX	0.66	(0.11)	0.00	(0.27)	0.00	0.00	1.30	(1.25)	4.22
VFWAX	0.62	(0.11)	0.00	(0.13)	0.00	0.00	1.17	(1.57)	4.26
VTMGX	0.63	(0.14)	0.00	(0.17)	0.00	0.00	0.98	(1.49)	3.94
VIAAX	0.58	(0.15)	0.00	(0.17)	0.00	0.00	1.18	(1.29)	3.42
VEMAX	0.71	(0.03)	(0.12)	0.04	0.85	(0.78)	1.57	(1.68)	4.60

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