Vanguard New Correlations

Mutual Funds . USA . 
Fund . Vanguard New Jersey
VNJTX Fund  USD 11.45  0.03  0.26%   
The current 90-days correlation between Vanguard New Jersey and Vanguard Ohio Long Term is 0.97 (i.e., Almost no diversification). The correlation of Vanguard New 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.

Vanguard New Correlation With Market

Average diversification

The correlation between Vanguard New Jersey and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard New Jersey 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 Vanguard New Jersey. 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 estimate.

Moving together with Vanguard Mutual Fund

  0.92VMLUX Vanguard Limited TermPairCorr
  0.92VMLTX Vanguard Limited TermPairCorr
  0.74VMSIX Vanguard Multi SectorPairCorr
  1.0VNJUX Vanguard New JerseyPairCorr
  0.99VNYTX Vanguard New YorkPairCorr
  0.99VNYUX Vanguard New YorkPairCorr
  1.0VOHIX Vanguard Ohio LongPairCorr
  1.0VPALX Vanguard PennsylvaniaPairCorr
  1.0VPAIX Vanguard PennsylvaniaPairCorr
  0.68VAIPX Vanguard Inflation-protecPairCorr
  0.74VSCSX Vanguard Short TermPairCorr
  0.69VSBIX Vanguard Short TermPairCorr
  0.76VSBSX Vanguard Short TermPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Vanguard Mutual Fund performing well and Vanguard New 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 Vanguard New'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.

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