Value Line Correlations

VLAAX Fund

USD 34.15 0.24 0.71%

The current 90-days correlation between Value Line Asset and Columbia Emerging Markets is -0.05 (i.e., Good diversification). The correlation of Value Line 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.

Value Line Correlation With Market

Very good diversification

The correlation between Value Line Asset and DJI is -0.46 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Value Line Asset 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 Value Line Asset. 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.

For more information on how to buy Value Mutual Fund please use our How to Invest in Value Line guide.

Moving together with Value Mutual Fund

0.83	VALIX	Value Line Income	Pair Corr
0.91	VALLX	Value Line Larger	Pair Corr
0.93	VALSX	Value Line Premier	Pair Corr
0.93	VILSX	Value Line Select	Pair Corr
0.91	VLLIX	Value Line Larger	Pair Corr

Moving against Value Mutual Fund

0.6	VLEOX	Value Line Small	Pair Corr
0.55	VLEIX	Value Line Small	Pair Corr
0.53	ABALX	American Balanced	Pair Corr
0.53	CLBAX	American Balanced	Pair Corr
0.52	BALCX	American Balanced	Pair Corr
0.49	BALFX	American Balanced	Pair Corr
0.49	RLBCX	American Balanced	Pair Corr
0.49	RLBBX	American Balanced	Pair Corr
0.49	CLBEX	American Balanced	Pair Corr
0.47	FBONX	American Funds American	Pair Corr
0.47	FBAFX	American Funds American	Pair Corr
0.86	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.78	PAGEX	T Rowe Price	Pair Corr
0.72	FDEVX	Templeton Developing	Pair Corr
0.65	CVLEX	Cullen Value	Pair Corr
0.58	UJPIX	Ultrajapan Profund	Pair Corr
0.58	XDIAX	Nuveen Dow 30	Pair Corr
0.57	NBREX	Neuberger Berman Mid	Pair Corr
0.56	INIVX	International Investors Steady Growth	Pair Corr
0.55	SSAWX	State Street Target	Pair Corr
0.55	RPBAX	T Rowe Price	Pair Corr
0.54	EKWAX	Wells Fargo Advantage Steady Growth	Pair Corr
0.51	FRGOX	Franklin Gold Precious Steady Growth	Pair Corr
0.5	RLBFX	American Balanced	Pair Corr
0.49	TIOTX	Tiaa Cref International	Pair Corr
0.46	EKWYX	Wells Fargo Advantage Steady Growth	Pair Corr
0.41	PMPSX	Precious Metals Ultr Steady Growth	Pair Corr
0.41	PMPIX	Precious Metals Ultr Steady Growth	Pair Corr
0.37	SMPSX	Semiconductor Ultrasector	Pair Corr
0.34	SMPIX	Semiconductor Ultrasector	Pair Corr

Related Correlations Analysis

	FAMEX	GCEQX	BAMPX	TGCNX	BIAHX	HGHAX	MMDEX	BAHAX	EEMAX
FAMEX		0.68	0.88	-0.37	0.86	0.61	0.39	0.86	0.86	FAMEX
GCEQX	0.68		0.61	0.33	0.59	0.75	0.88	0.59	0.46	GCEQX
BAMPX	0.88	0.61		-0.44	0.88	0.53	0.33	0.88	0.94	BAMPX
TGCNX	-0.37	0.33	-0.44		-0.54	0.19	0.49	-0.54	-0.61	TGCNX
BIAHX	0.86	0.59	0.88	-0.54		0.52	0.43	1.0	0.92	BIAHX
HGHAX	0.61	0.75	0.53	0.19	0.52		0.69	0.52	0.41	HGHAX
MMDEX	0.39	0.88	0.33	0.49	0.43	0.69		0.43	0.19	MMDEX
BAHAX	0.86	0.59	0.88	-0.54	1.0	0.52	0.43		0.92	BAHAX
EEMAX	0.86	0.46	0.94	-0.61	0.92	0.41	0.19	0.92		EEMAX
	FAMEX	GCEQX	BAMPX	TGCNX	BIAHX	HGHAX	MMDEX	BAHAX	EEMAX

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

BAHAX	+ 1.0	BIAHX
EEMAX	+ 0.94	BAMPX
EEMAX	+ 0.92	BIAHX
EEMAX	+ 0.92	BAHAX
BAMPX	+ 0.88	FAMEX
MMDEX	+ 0.88	GCEQX

High negative correlations

EEMAX	- 0.61	TGCNX
BAHAX	- 0.54	TGCNX
BIAHX	- 0.54	TGCNX
TGCNX	- 0.44	BAMPX
TGCNX	- 0.37	FAMEX

Risk-Adjusted Indicators

There is a big difference between Value Mutual Fund performing well and Value Line 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 Value Line'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
FAMEX	0.62	0.11	0.00	(0.50)	0.59	(0.70)	1.35	(1.03)	4.14
GCEQX	0.58	0.03	(0.08)	(0.11)	0.87	(0.53)	1.12	(1.43)	3.51
BAMPX	0.28	0.04	(0.12)	(0.93)	0.28	(0.33)	0.59	(0.58)	1.77
TGCNX	0.81	(0.10)	0.00	0.58	0.00	0.00	1.31	(2.05)	4.93
BIAHX	0.66	0.28	0.24	(1.07)	0.00	(0.77)	1.59	(0.95)	9.08
HGHAX	0.67	0.03	(0.07)	0.35	0.68	(0.78)	1.91	(1.31)	3.92
MMDEX	0.77	0.03	(0.07)	(0.03)	1.12	(0.72)	1.30	(1.96)	6.62
BAHAX	0.66	0.28	0.24	(1.06)	0.06	(0.77)	1.56	(1.01)	9.18
EEMAX	0.87	0.34	0.27	(3.78)	0.48	(1.09)	2.34	(1.28)	6.22

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