Vanguard Small-cap Correlations

Mutual Funds . USA . 
Fund . Vanguard Small Cap Index
NAESX Fund  USD 114.06  0.32  0.28%   
The current 90-days correlation between Vanguard Small Cap and Vanguard Mid Cap Index is 0.95 (i.e., Almost no diversification). The correlation of Vanguard Small-cap 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 Small-cap Correlation With Market

Very weak diversification

The correlation between Vanguard Small Cap Index and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard Small Cap Index 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 Small Cap Index. 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 state.

Moving together with Vanguard Mutual Fund

  0.88VMIAX Vanguard Materials IndexPairCorr
  0.76VMNVX Vanguard Global MinimumPairCorr
  0.9VMVAX Vanguard Mid CapPairCorr
  0.9VMVIX Vanguard Mid CapPairCorr
  0.62VMVLX Vanguard Mega CapPairCorr
  0.65VNJUX Vanguard New JerseyPairCorr
  0.64VNJTX Vanguard New JerseyPairCorr
  0.67VNYTX Vanguard New YorkPairCorr
  0.67VNYUX Vanguard New YorkPairCorr
  0.66VOHIX Vanguard Ohio LongPairCorr
  0.88VPCCX Vanguard PrimecapPairCorr
  0.66VPAIX Vanguard PennsylvaniaPairCorr
  0.82VPMCX Vanguard PrimecapPairCorr
  0.84VQNPX Vanguard Growth AndPairCorr
  0.81VRTPX Vanguard Reit IiPairCorr
  1.0VSCIX Vanguard Small CapPairCorr
  0.66VSCGX Vanguard LifestrategyPairCorr
  1.0VSCPX Vanguard Small CapPairCorr
  0.97VSEMX Vanguard Extended MarketPairCorr
  0.89VSEQX Vanguard Strategic EquityPairCorr
  0.71VASGX Vanguard LifestrategyPairCorr
  0.97VSGAX Vanguard Small CapPairCorr
  0.68VASIX Vanguard LifestrategyPairCorr
  0.83VASVX Vanguard Selected ValuePairCorr
  0.97VSGIX Vanguard Small CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Vanguard Mutual Fund performing well and Vanguard Small-cap 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 Small-cap'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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