Value Line Correlations

VLMIX Fund

USD 34.91 0.16 0.46%

The current 90-days correlation between Value Line Mid and Champlain Mid Cap is 0.04 (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

Average diversification

The correlation between Value Line Mid and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Value Line Mid 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 Mid. 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

0.66	VALIX	Value Line Income	Pair Corr
0.69	VALLX	Value Line Larger	Pair Corr
0.75	VALSX	Value Line Premier	Pair Corr
0.68	VLAAX	Value Line Asset	Pair Corr
0.67	VLAIX	Value Line Asset	Pair Corr
0.66	VLIIX	Value Line Income	Pair Corr
0.67	VLIFX	Value Line Mid	Pair Corr
0.64	RRMGX	T Rowe Price	Pair Corr
0.68	PCBIX	Midcap Fund Institutional	Pair Corr
0.73	PEMGX	Midcap Fund Class	Pair Corr
0.61	PMBCX	Midcap Fund Class	Pair Corr
0.63	RPMGX	T Rowe Price	Pair Corr
0.81	USA	Liberty All Star	Pair Corr
0.63	NFJ	Virtus Dividend Interest	Pair Corr
0.66	POICX	Virtus Tactical Allo	Pair Corr
0.68	RSLCX	Smallcap World	Pair Corr
0.62	NWHDX	Nationwide Bailard Nitive	Pair Corr

Related Correlations Analysis

	CIPMX	ABVCX	FLDFX	MDMTX	PATFX	AUERX
CIPMX		0.9	0.85	-0.14	0.14	0.88	CIPMX
ABVCX	0.9		0.94	-0.06	0.28	0.98	ABVCX
FLDFX	0.85	0.94		-0.03	0.3	0.93	FLDFX
MDMTX	-0.14	-0.06	-0.03		0.87	-0.17	MDMTX
PATFX	0.14	0.28	0.3	0.87		0.2	PATFX
AUERX	0.88	0.98	0.93	-0.17	0.2		AUERX
	CIPMX	ABVCX	FLDFX	MDMTX	PATFX	AUERX

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

AUERX	+ 0.98	ABVCX
FLDFX	+ 0.94	ABVCX
AUERX	+ 0.93	FLDFX
ABVCX	+ 0.9	CIPMX
AUERX	+ 0.88	CIPMX
PATFX	+ 0.87	MDMTX

High negative correlations

AUERX	- 0.17	MDMTX
MDMTX	- 0.14	CIPMX
MDMTX	- 0.06	ABVCX
MDMTX	- 0.03	FLDFX

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
CIPMX	1.05	0.31	0.33	0.74	0.39	(1.46)	1.68	(1.22)	22.87
ABVCX	0.75	0.25	0.23	(30.99)	0.45	(0.98)	1.47	(1.09)	10.52
FLDFX	0.48	0.04	0.03	0.11	0.47	(0.54)	0.93	(0.95)	3.74
MDMTX	0.08	0.00	(0.37)	0.68	0.00	(0.15)	0.19	(0.10)	0.86
PATFX	0.09	0.02	(0.33)	(1.77)	0.00	(0.13)	0.27	(0.18)	0.72
AUERX	1.03	0.22	0.17	0.34	0.85	(1.27)	2.06	(1.76)	12.63

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