Vela Income Correlations

Mutual Funds USA . 
Fund . Vela Income Opportunities
VIOAX Fund  USD 9.92  0.04  0.40%   
The current 90-days correlation between Vela Income Opportunities and Global Technology Portfolio is 0.44 (i.e., Very weak diversification). The correlation of Vela Income 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 Income Correlation With Market

Very poor diversification

The correlation between Vela Income Opportunities and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vela Income Opportunities 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 Income Opportunities. 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

  0.96VELAX Vela Large CapPairCorr
  0.96VELIX Vela Large CapPairCorr
  0.91VESMX Vela Small CapPairCorr
  0.91VESAX Vela Small CapPairCorr
  1.0VIOIX Vela Income OpportunitiesPairCorr
  0.83FFIFX American FundsPairCorr
  0.83FAIFX American FundsPairCorr
  0.82IFACX Income FundPairCorr
  0.83IFAFX Income FundPairCorr
  0.83AMECX Income FundPairCorr
  0.81RIDBX Income FundPairCorr
  0.82CIMEX Income FundPairCorr
  0.83RIDFX Income FundPairCorr
  0.82CIMCX Income FundPairCorr
  0.83CIMFX Income FundPairCorr
  0.93VTSAX Vanguard Total StockPairCorr
  0.92VFIAX Vanguard 500 IndexPairCorr
  0.93VTSMX Vanguard Total StockPairCorr
  0.93VSMPX Vanguard Total StockPairCorr
  0.93VSTSX Vanguard Total StockPairCorr
  0.93VITSX Vanguard Total StockPairCorr
  0.92VFINX Vanguard 500 IndexPairCorr
  0.92VFFSX Vanguard 500 IndexPairCorr
  0.92SWPPX Schwab Sp 500PairCorr
  0.75JPYRX Jpmorgan SmartretirementPairCorr
  0.73PCF Putnam High IncomePairCorr
  0.86RNGHX New Economy FundPairCorr
  0.9ANCIX Ancora MicrocapPairCorr
  0.92TAAIX Thrivent AggressivePairCorr
  0.93VEXRX Vanguard ExplorerPairCorr
  0.69GQLOX Gmo Quality FundPairCorr
  0.9CSQ Calamos Strategic TotalPairCorr

Moving against Vela Mutual Fund

  0.41VEILX Vela InternationalPairCorr
  0.41VEITX Vela InternationalPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Vela Mutual Fund performing well and Vela Income 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 Income'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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