Value Line Correlations

VLAIX Fund

USD 33.89 0.73 2.11%

The current 90-days correlation between Value Line Asset and Brown Advisory is -0.04 (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

Poor diversification

The correlation between Value Line Asset and DJI is 0.78 (i.e., Poor 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 gross domestic product.

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

0.93	VALIX	Value Line Income	Pair Corr
0.99	VALSX	Value Line Premier	Pair Corr
1.0	VLAAX	Value Line Asset	Pair Corr
0.93	VLEIX	Value Line Small	Pair Corr
0.93	VLEOX	Value Line Small	Pair Corr
0.93	VLIIX	Value Line Income	Pair Corr
0.66	VLIFX	Value Line Mid	Pair Corr
0.89	VLMIX	Value Line Mid	Pair Corr
0.72	ABALX	American Balanced	Pair Corr
0.92	BALCX	American Balanced	Pair Corr
0.77	BALFX	American Balanced	Pair Corr
0.92	FBONX	American Funds American	Pair Corr
0.92	FBAFX	American Funds American	Pair Corr
0.92	RLBCX	American Balanced	Pair Corr
0.92	RLBBX	American Balanced	Pair Corr
0.74	CLBAX	American Balanced	Pair Corr
0.92	CLBEX	American Balanced	Pair Corr
0.92	RLBFX	American Balanced	Pair Corr
0.79	SMPIX	Semiconductor Ultrasector	Pair Corr
0.86	SMPSX	Semiconductor Ultrasector	Pair Corr
0.74	RSNRX	Victory Global Natural	Pair Corr
0.75	RSNYX	Victory Global Natural	Pair Corr
0.75	RGNCX	Victory Global Natural	Pair Corr
0.78	PMPIX	Precious Metals Ultr	Pair Corr
0.89	HNTVX	Heartland Value	Pair Corr
0.79	UNPSX	Ultrainternational	Pair Corr
0.94	RNGFX	New Economy Fund	Pair Corr
0.81	LIGFX	Lord Abbett Diversified	Pair Corr
0.83	LCCCX	Columbia Trarian Core	Pair Corr
0.92	CLTCX	Catalyst/lyons Tactical	Pair Corr
0.88	HDGCX	Hartford Dividend	Pair Corr
0.89	RALAX	Growth Strategy	Pair Corr

Moving against Value Mutual Fund

0.45

VLLIX

Value Line Larger

Pair Corr

Related Correlations Analysis

	VLAAX	FAMEX	GCEQX	BAMPX	TGCNX	HGHAX	BIAHX	MMDEX	EEMAX	BAHAX
VLAAX		0.73	0.68	0.69	-0.34	0.67	0.89	0.81	0.79	0.89	VLAAX
FAMEX	0.73		0.84	0.87	-0.19	0.63	0.84	0.73	0.86	0.84	FAMEX
GCEQX	0.68	0.84		0.86	0.23	0.43	0.74	0.9	0.75	0.73	GCEQX
BAMPX	0.69	0.87	0.86		-0.05	0.51	0.82	0.75	0.91	0.82	BAMPX
TGCNX	-0.34	-0.19	0.23	-0.05		-0.56	-0.46	0.08	-0.28	-0.46	TGCNX
HGHAX	0.67	0.63	0.43	0.51	-0.56		0.72	0.52	0.54	0.72	HGHAX
BIAHX	0.89	0.84	0.74	0.82	-0.46	0.72		0.8	0.9	1.0	BIAHX
MMDEX	0.81	0.73	0.9	0.75	0.08	0.52	0.8		0.67	0.8	MMDEX
EEMAX	0.79	0.86	0.75	0.91	-0.28	0.54	0.9	0.67		0.9	EEMAX
BAHAX	0.89	0.84	0.73	0.82	-0.46	0.72	1.0	0.8	0.9		BAHAX
	VLAAX	FAMEX	GCEQX	BAMPX	TGCNX	HGHAX	BIAHX	MMDEX	EEMAX	BAHAX

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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
EEMAX	+ 0.91	BAMPX
MMDEX	+ 0.9	GCEQX
EEMAX	+ 0.9	BIAHX
BAHAX	+ 0.9	EEMAX
BIAHX	+ 0.89	VLAAX

High negative correlations

HGHAX	- 0.56	TGCNX
BAHAX	- 0.46	TGCNX
BIAHX	- 0.46	TGCNX
TGCNX	- 0.34	VLAAX
EEMAX	- 0.28	TGCNX
TGCNX	- 0.19	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
VLAAX	0.56	0.08	0.08	0.40	0.42	(0.71)	0.75	(0.93)	13.05
FAMEX	0.58	0.00	(0.01)	0.04	0.63	(0.64)	1.35	(1.03)	4.14
GCEQX	0.59	(0.06)	0.00	(0.04)	0.00	0.00	1.12	(1.57)	4.05
BAMPX	0.28	0.01	(0.08)	0.16	0.36	(0.31)	0.59	(0.66)	1.77
TGCNX	0.78	(0.21)	0.00	(0.23)	0.00	0.00	1.16	(2.00)	4.86
HGHAX	0.66	0.12	0.11	0.92	0.52	(0.76)	1.91	(1.03)	3.94
BIAHX	0.63	0.23	0.34	0.44	0.00	(0.78)	1.54	(0.94)	8.61
MMDEX	0.77	(0.06)	0.00	(0.03)	0.00	0.00	1.30	(1.96)	6.62
EEMAX	0.80	0.20	0.19	1.38	0.60	(0.98)	1.82	(1.28)	6.13
BAHAX	0.63	0.23	0.34	0.45	0.00	(0.78)	1.56	(0.95)	8.70

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