Vanguard Mega Correlations

MGV Etf

USD 128.52 0.58 0.45%

The current 90-days correlation between Vanguard Mega Cap and Vanguard Mega Cap is 0.7 (i.e., Poor diversification). The correlation of Vanguard Mega 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 Mega Correlation With Market

Significant diversification

The correlation between Vanguard Mega Cap and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard Mega Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Vanguard Mega Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Vanguard Etf

0.91	VTV	Vanguard Value Index	Pair Corr
0.96	VYM	Vanguard High Dividend	Pair Corr
0.89	IWD	iShares Russell 1000	Pair Corr
0.87	DGRO	iShares Core Dividend	Pair Corr
0.77	IVE	iShares SP 500	Pair Corr
0.83	DVY	iShares Select Dividend	Pair Corr
0.77	SPYV	SPDR Portfolio SP	Pair Corr
0.81	FVD	First Trust Value	Pair Corr
0.76	IUSV	iShares Core SP	Pair Corr
0.65	NOBL	ProShares SP 500	Pair Corr
0.72	QTAP	Innovator Growth 100 Low Volatility	Pair Corr
0.83	XTAP	Innovator Equity Acc Low Volatility	Pair Corr
0.76	GE	GE Aerospace	Pair Corr
0.63	IBM	International Business	Pair Corr

Moving against Vanguard Etf

0.69

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	MGC	MGK	VOE	VOT	VV
MGC		0.9	0.76	0.9	0.91	MGC
MGK	0.9		0.71	0.88	0.96	MGK
VOE	0.76	0.71		0.85	0.85	VOE
VOT	0.9	0.88	0.85		0.96	VOT
VV	0.91	0.96	0.85	0.96		VV
	MGC	MGK	VOE	VOT	VV

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Vanguard Mega Constituents Risk-Adjusted Indicators

There is a big difference between Vanguard Etf performing well and Vanguard Mega ETF 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 Mega'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
MGC	0.82	(0.10)	1.56	1.28	(1.75)	4.93
MGK	1.09	(0.11)	(0.19)	1.79	(2.66)	6.54
VOE	0.66	0.02	(0.04)	1.17	(1.16)	3.11
VOT	0.96	(0.01)	(0.08)	1.67	(2.16)	4.97
VV	0.80	(0.03)	(0.11)	1.26	(1.67)	4.56

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