Vanguard International Correlations

VIHAX Fund

USD 33.89 0.02 0.06%

The current 90-days correlation between Vanguard International and Vanguard International Dividend is 0.87 (i.e., Very poor diversification). The correlation of Vanguard International 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.

Vanguard International Correlation With Market

Weak diversification

The correlation between Vanguard International High and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard International High 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 Vanguard International High. 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 VANGUARD Mutual Fund

0.71	VMMSX	Vanguard Emerging Markets	Pair Corr
0.88	VPADX	Vanguard Pacific Stock	Pair Corr
0.88	VPACX	Vanguard Pacific Stock	Pair Corr
0.88	VPKIX	Vanguard Pacific Stock	Pair Corr
0.64	VAIPX	Vanguard Inflation-protec	Pair Corr
0.69	VSCGX	Vanguard Lifestrategy	Pair Corr

Moving against VANGUARD Mutual Fund

0.31

VSEMX

Vanguard Extended Market

Pair Corr

Related Correlations Analysis

	VIAAX	VHYAX	VGRLX	VGAVX	VMMSX
VIAAX		-0.47	0.9	0.63	0.32	VIAAX
VHYAX	-0.47		-0.37	-0.08	0.45	VHYAX
VGRLX	0.9	-0.37		0.81	0.48	VGRLX
VGAVX	0.63	-0.08	0.81		0.36	VGAVX
VMMSX	0.32	0.45	0.48	0.36		VMMSX
	VIAAX	VHYAX	VGRLX	VGAVX	VMMSX

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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

VGRLX	+ 0.9	VIAAX
VGAVX	+ 0.81	VGRLX
VGAVX	+ 0.63	VIAAX
VMMSX	+ 0.48	VGRLX
VMMSX	+ 0.45	VHYAX
VMMSX	+ 0.36	VGAVX

High negative correlations

VHYAX	- 0.47	VIAAX
VGRLX	- 0.37	VHYAX
VGAVX	- 0.08	VHYAX

Risk-Adjusted Indicators

There is a big difference between VANGUARD Mutual Fund performing well and Vanguard International 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 Vanguard International'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
VIAAX	0.60	(0.13)	0.00	(0.12)	0.00	0.00	1.32	(1.29)	3.42
VHYAX	0.53	0.01	(0.01)	0.13	0.33	(0.63)	1.11	(0.79)	3.69
VGRLX	0.69	(0.08)	0.00	(0.15)	0.00	0.00	1.31	(1.25)	4.22
VGAVX	0.21	0.00	(0.42)	(0.01)	0.23	(0.24)	0.43	(0.37)	1.61
VMMSX	0.86	(0.04)	(0.09)	0.04	1.10	(0.92)	1.78	(1.97)	6.50

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