Vela Income Correlations

VIOAX Fund

USD 9.65 0.02 0.21%

The current 90-days correlation between Vela Income Opportunities and Vela International is 0.07 (i.e., Significant 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 weak diversification

The correlation between Vela Income Opportunities and DJI is 0.51 (i.e., Very weak 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

0.63	VEILX	Vela International	Pair Corr
0.63	VEITX	Vela International	Pair Corr
0.66	VELAX	Vela Large Cap	Pair Corr
0.73	VESMX	Vela Small Cap	Pair Corr
0.73	VESAX	Vela Small Cap	Pair Corr
1.0	VIOIX	Vela Income Opportunities	Pair Corr
0.74	FFIFX	American Funds	Pair Corr
0.88	FAIFX	American Funds	Pair Corr
0.94	IFACX	Income Fund	Pair Corr
0.88	IFAFX	Income Fund	Pair Corr
0.93	AMECX	Income Fund	Pair Corr
0.89	RIDBX	Income Fund	Pair Corr
0.89	CIMEX	Income Fund	Pair Corr
0.88	RIDFX	Income Fund	Pair Corr
0.89	CIMCX	Income Fund	Pair Corr
0.93	CIMFX	Income Fund	Pair Corr
0.65	VGTSX	Vanguard Total Inter	Pair Corr
0.65	VTIAX	Vanguard Total Inter	Pair Corr
0.73	NEFZX	Loomis Sayles Strategic	Pair Corr
0.75	PAITX	T Rowe Price	Pair Corr
0.71	PIIJX	Diversified International	Pair Corr
0.7	ICERX	Mainstay Epoch Inter	Pair Corr
0.61	CIHYX	Calamos High Income	Pair Corr
0.64	BBHLX	Bbh Partner Fund Steady Growth	Pair Corr

Related Correlations Analysis

	VEILX	VEITX	VELAX	VELIX	VESMX	VESAX	VIOAX	VIOIX
VEILX		1.0	0.3	0.31	0.35	0.34	0.63	0.63	VEILX
VEITX	1.0		0.3	0.3	0.34	0.34	0.63	0.63	VEITX
VELAX	0.3	0.3		0.96	0.67	0.67	0.66	0.64	VELAX
VELIX	0.31	0.3	0.96		0.62	0.62	0.58	0.56	VELIX
VESMX	0.35	0.34	0.67	0.62		1.0	0.73	0.73	VESMX
VESAX	0.34	0.34	0.67	0.62	1.0		0.73	0.73	VESAX
VIOAX	0.63	0.63	0.66	0.58	0.73	0.73		1.0	VIOAX
VIOIX	0.63	0.63	0.64	0.56	0.73	0.73	1.0		VIOIX
	VEILX	VEITX	VELAX	VELIX	VESMX	VESAX	VIOAX	VIOIX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VEILX	0.52	0.04	0.16	(0.63)	0.58	(0.59)	1.15	(0.84)	2.81
VEITX	0.52	0.04	0.16	(0.58)	0.58	(0.58)	1.07	(0.90)	2.80
VELAX	0.48	(0.10)	0.00	(0.30)	0.00	0.00	0.72	(1.14)	6.24
VELIX	0.47	(0.14)	0.00	0.59	0.00	0.00	0.72	(1.12)	6.14
VESMX	0.65	(0.15)	0.00	2.96	0.00	0.00	1.20	(1.50)	4.10
VESAX	0.66	(0.15)	0.00	2.88	0.00	0.00	1.21	(1.56)	4.12
VIOAX	0.31	(0.01)	0.00	(0.11)	0.00	0.00	0.62	(0.63)	1.66
VIOIX	0.29	(0.01)	0.00	(0.12)	0.00	0.00	0.53	(0.62)	1.55

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Vela Income Correlations

Vela Income Correlation With Market

Very weak diversification

Moving together with Vela Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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