Value Line Correlations

VLAAX Fund

USD 34.92 0.48 1.36%

The current 90-days correlation between Value Line Asset and Value Line Asset is 1.0 (i.e., No risk reduction). 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

Average diversification

The correlation between Value Line Asset and DJI is 0.11 (i.e., Average 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

0.91	VALIX	Value Line Income	Pair Corr
0.62	VALLX	Value Line Larger	Pair Corr
0.99	VALSX	Value Line Premier	Pair Corr
1.0	VLAIX	Value Line Asset	Pair Corr
0.92	VLEIX	Value Line Small	Pair Corr
0.92	VLEOX	Value Line Small	Pair Corr
0.91	VLIIX	Value Line Income	Pair Corr
0.81	VLMIX	Value Line Mid	Pair Corr
0.7	ABALX	American Balanced	Pair Corr
0.92	BALCX	American Balanced	Pair Corr
0.75	BALFX	American Balanced	Pair Corr
0.91	FBONX	American Funds American	Pair Corr
0.91	FBAFX	American Funds American	Pair Corr
0.91	RLBCX	American Balanced	Pair Corr
0.91	RLBBX	American Balanced	Pair Corr
0.72	CLBAX	American Balanced	Pair Corr
0.91	CLBEX	American Balanced	Pair Corr
0.91	RLBFX	American Balanced	Pair Corr
0.78	DXQLX	Direxion Monthly Nasdaq	Pair Corr
0.76	RYVLX	Nasdaq 100 2x	Pair Corr
0.86	UOPIX	Ultra Nasdaq 100	Pair Corr
0.85	RYCCX	Nasdaq 100 2x	Pair Corr
0.86	AMPFX	Amcap Fund Class	Pair Corr
0.94	ANFCX	New Economy Fund	Pair Corr
0.71	BDKNX	Braddock Multi Strategy	Pair Corr
0.77	PFCJX	Pimco Preferred And	Pair Corr
0.69	VHYAX	Vanguard High Dividend	Pair Corr
0.86	GBMAHX	Gbmahx	Pair Corr
0.87	TIMRX	Tiaa Cref Managed	Pair Corr
0.94	DBORX	Dreyfus Balanced Opp	Pair Corr
0.79	FCISX	Franklin Income	Pair Corr

Moving against Value Mutual Fund

0.39	VLLIX	Value Line Larger	Pair Corr
0.32	INPSX	Internet Ultrasector	Pair Corr
0.31	INPIX	Internet Ultrasector	Pair Corr

Related Correlations Analysis

	VLAIX	FAMEX	GCEQX	BAMPX	TGCNX	BIAHX	HGHAX	MMDEX	BAHAX	EEMAX
VLAIX		0.6	0.62	0.67	-0.28	0.91	0.58	0.77	0.91	0.83	VLAIX
FAMEX	0.6		0.64	0.7	0.12	0.61	0.22	0.53	0.61	0.68	FAMEX
GCEQX	0.62	0.64		0.87	0.36	0.68	0.44	0.92	0.68	0.73	GCEQX
BAMPX	0.67	0.7	0.87		0.14	0.74	0.53	0.8	0.74	0.87	BAMPX
TGCNX	-0.28	0.12	0.36	0.14		-0.38	-0.54	0.09	-0.38	-0.11	TGCNX
BIAHX	0.91	0.61	0.68	0.74	-0.38		0.73	0.84	1.0	0.84	BIAHX
HGHAX	0.58	0.22	0.44	0.53	-0.54	0.73		0.59	0.73	0.55	HGHAX
MMDEX	0.77	0.53	0.92	0.8	0.09	0.84	0.59		0.84	0.74	MMDEX
BAHAX	0.91	0.61	0.68	0.74	-0.38	1.0	0.73	0.84		0.84	BAHAX
EEMAX	0.83	0.68	0.73	0.87	-0.11	0.84	0.55	0.74	0.84		EEMAX
	VLAIX	FAMEX	GCEQX	BAMPX	TGCNX	BIAHX	HGHAX	MMDEX	BAHAX	EEMAX

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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

BAHAX	+ 1.0	BIAHX
MMDEX	+ 0.92	GCEQX
BIAHX	+ 0.91	VLAIX
BAHAX	+ 0.91	VLAIX
BAMPX	+ 0.87	GCEQX
EEMAX	+ 0.87	BAMPX

High negative correlations

HGHAX	- 0.54	TGCNX
BAHAX	- 0.38	TGCNX
BIAHX	- 0.38	TGCNX
TGCNX	- 0.28	VLAIX
EEMAX	- 0.11	TGCNX

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
VLAIX	0.57	0.11	0.10	0.54	0.30	(0.72)	0.77	(0.77)	12.53
FAMEX	0.59	(0.05)	(0.08)	0.01	0.74	(0.61)	1.35	(1.07)	3.23
GCEQX	0.57	(0.02)	(0.04)	0.03	0.91	(0.52)	1.12	(1.57)	4.05
BAMPX	0.26	0.03	(0.07)	0.28	0.26	(0.31)	0.59	(0.52)	1.63
TGCNX	0.74	(0.12)	0.00	(0.08)	0.00	0.00	1.49	(1.93)	4.31
BIAHX	0.58	0.16	0.24	0.35	0.08	(0.72)	1.23	(0.93)	8.14
HGHAX	0.63	0.16	0.17	1.07	0.35	(0.76)	1.91	(0.98)	3.94
MMDEX	0.76	0.00	(0.01)	0.06	1.06	(0.74)	1.80	(1.87)	5.90
BAHAX	0.58	0.16	0.24	0.36	0.09	(0.72)	1.25	(0.95)	8.14
EEMAX	0.78	0.22	0.24	0.86	0.41	(1.01)	1.74	(1.05)	4.95

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