Value Line Correlations

VLIIX Fund

USD 13.55 0.23 1.67%

The current 90-days correlation between Value Line Income and Victory Rs International is 0.02 (i.e., Significant 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 poor diversification

The correlation between Value Line Income and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Value Line Income 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 Income. 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

1.0	VALIX	Value Line Income	Pair Corr
0.72	VALLX	Value Line Larger	Pair Corr
0.93	VALSX	Value Line Premier	Pair Corr
0.91	VLAAX	Value Line Asset	Pair Corr
0.91	VLAIX	Value Line Asset	Pair Corr
0.84	VLEIX	Value Line Small	Pair Corr
0.84	VLEOX	Value Line Small	Pair Corr
0.7	VLIFX	Value Line Mid	Pair Corr
0.86	VLMIX	Value Line Mid	Pair Corr
0.72	ABALX	American Balanced	Pair Corr
0.84	BALCX	American Balanced	Pair Corr
0.79	BALFX	American Balanced	Pair Corr
0.85	FBONX	American Funds American	Pair Corr
0.85	FBAFX	American Funds American	Pair Corr
0.85	RLBCX	American Balanced	Pair Corr
0.85	RLBBX	American Balanced	Pair Corr
0.73	CLBAX	American Balanced	Pair Corr
0.85	CLBEX	American Balanced	Pair Corr
0.85	RLBFX	American Balanced	Pair Corr
0.87	SMPIX	Semiconductor Ultrasector	Pair Corr
0.88	SMPSX	Semiconductor Ultrasector	Pair Corr
0.72	PMPIX	Precious Metals Ultr	Pair Corr
0.72	PMPSX	Precious Metals Ultr	Pair Corr
0.77	FGADX	Franklin Gold Precious	Pair Corr
0.77	FGPMX	Franklin Gold And	Pair Corr
0.73	OCMGX	Ocm Mutual Fund Downward Rally	Pair Corr
0.74	INIYX	International Investors	Pair Corr
0.64	FKRCX	Franklin Gold Precious	Pair Corr
0.76	OCMAX	Ocm Mutual Fund Downward Rally	Pair Corr
0.75	QRSAX	Fpa Queens Road	Pair Corr
0.79	RBAFX	American Funds Balanced	Pair Corr
0.86	PALLX	Allianzgi Global All	Pair Corr
0.95	VMGRX	Vanguard Mid Cap	Pair Corr
0.77	FVOKX	Oklahoma College Savings	Pair Corr
0.72	MMDAX	Madison Moderate All	Pair Corr
0.71	GAGIX	Gabelli Global	Pair Corr

Related Correlations Analysis

	VALIX	TUHYX	BDAFX	MNBAX	MCGFX	WSCGX	VKQ	BTBFX	GUBGX
VALIX		0.83	0.83	0.88	-0.8	0.91	0.6	0.2	0.71	VALIX
TUHYX	0.83		0.77	0.87	-0.75	0.91	0.76	0.39	0.86	TUHYX
BDAFX	0.83	0.77		0.65	-0.45	0.71	0.52	0.24	0.63	BDAFX
MNBAX	0.88	0.87	0.65		-0.96	0.97	0.74	0.4	0.88	MNBAX
MCGFX	-0.8	-0.75	-0.45	-0.96		-0.9	-0.67	-0.39	-0.78	MCGFX
WSCGX	0.91	0.91	0.71	0.97	-0.9		0.76	0.28	0.87	WSCGX
VKQ	0.6	0.76	0.52	0.74	-0.67	0.76		0.33	0.88	VKQ
BTBFX	0.2	0.39	0.24	0.4	-0.39	0.28	0.33		0.4	BTBFX
GUBGX	0.71	0.86	0.63	0.88	-0.78	0.87	0.88	0.4		GUBGX
	VALIX	TUHYX	BDAFX	MNBAX	MCGFX	WSCGX	VKQ	BTBFX	GUBGX

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

WSCGX	+ 0.97	MNBAX
WSCGX	+ 0.91	VALIX
WSCGX	+ 0.91	TUHYX
MNBAX	+ 0.88	VALIX
GUBGX	+ 0.88	MNBAX
GUBGX	+ 0.88	VKQ

High negative correlations

MCGFX	- 0.96	MNBAX
WSCGX	- 0.9	MCGFX
MCGFX	- 0.8	VALIX
GUBGX	- 0.78	MCGFX
MCGFX	- 0.75	TUHYX
VKQ	- 0.67	MCGFX

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
VALIX	0.68	(0.06)	0.00	(0.07)	0.00	0.00	1.62	(1.73)	6.34
TUHYX	0.10	0.00	(0.15)	0.09	0.00	(0.19)	0.24	(0.24)	1.19
BDAFX	0.76	(0.08)	0.00	(0.06)	0.00	0.00	1.25	(1.93)	4.80
MNBAX	0.55	0.14	0.23	0.42	0.21	(0.72)	0.88	(0.81)	10.15
MCGFX	1.32	(0.49)	0.00	(0.29)	0.00	0.00	1.70	(1.64)	32.50
WSCGX	1.01	0.16	0.13	0.19	0.95	(1.21)	1.81	(1.91)	11.55
VKQ	0.37	0.03	(0.01)	2.47	0.39	(0.41)	0.83	(0.73)	2.01
BTBFX	0.67	0.05	0.00	(2.13)	1.95	(0.70)	0.73	(0.70)	22.47
GUBGX	0.62	0.13	0.12	1.40	0.61	(0.68)	1.15	(1.33)	3.59

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