Value Line Correlations

VAGIX Fund

USD 13.01 0.01 0.08%

The current 90-days correlation between Value Line E and Value Line Income is 0.08 (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

Good diversification

The correlation between Value Line E and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Value Line E 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 E. 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

0.99	VBTLX	Vanguard Total Bond	Pair Corr
0.99	VBMFX	Vanguard Total Bond	Pair Corr
0.96	VBTIX	Vanguard Total Bond	Pair Corr
0.96	VTBSX	Vanguard Total Bond	Pair Corr
0.96	VTBIX	Vanguard Total Bond	Pair Corr
0.96	VTBNX	Vanguard Total Bond	Pair Corr
0.95	FBOFX	American Funds	Pair Corr
0.96	FFBOX	American Funds	Pair Corr
0.95	BFAFX	Bond Fund	Pair Corr
0.95	ABNDX	Bond Fund	Pair Corr
0.7	GAAKX	Gmo Alternative Allo	Pair Corr
0.71	GAAGX	Gmo Alternative Allo	Pair Corr
0.99	GPBFX	Gmo E Plus	Pair Corr
0.82	WARCX	Wells Fargo Advantage	Pair Corr
0.95	PRAPX	Pimco Total Return	Pair Corr
0.86	OSIIX	Oppenheimer Global Strtgc	Pair Corr
0.69	WMRIX	Wilmington Multi-manager	Pair Corr
0.96	NECRX	Loomis Sayles E	Pair Corr
0.73	MIPIX	Matthews Asia Dividend	Pair Corr
0.69	RYWTX	Emerging Markets	Pair Corr

Moving against Value Mutual Fund

0.65	VLEIX	Value Line Small	Pair Corr
0.65	VLEOX	Value Line Small	Pair Corr
0.45	VALLX	Value Line Larger	Pair Corr
0.45	VLLIX	Value Line Larger	Pair Corr
0.44	VLIIX	Value Line Income	Pair Corr
0.4	VALIX	Value Line Income	Pair Corr
0.82	PQTAX	Pimco Trends Managed	Pair Corr
0.82	PQTNX	Pimco Trends Managed	Pair Corr
0.82	PQTIX	Aa Pimco Tr	Pair Corr
0.79	GPMFX	Guidepath Managed Futures	Pair Corr

Related Correlations Analysis

	VALIX	VALLX	STHYX	VLIFX	NTHEX
VALIX		0.91	-0.3	0.71	0.0	VALIX
VALLX	0.91		-0.36	0.81	0.03	VALLX
STHYX	-0.3	-0.36		-0.19	0.37	STHYX
VLIFX	0.71	0.81	-0.19		0.09	VLIFX
NTHEX	0.0	0.03	0.37	0.09		NTHEX
	VALIX	VALLX	STHYX	VLIFX	NTHEX

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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

VALLX	+ 0.91	VALIX
VLIFX	+ 0.81	VALLX
VLIFX	+ 0.71	VALIX
NTHEX	+ 0.37	STHYX
NTHEX	+ 0.09	VLIFX
NTHEX	+ 0.03	VALLX

High negative correlations

STHYX	- 0.36	VALLX
STHYX	- 0.3	VALIX
VLIFX	- 0.19	STHYX
NTHEX	- 0.0	VALIX

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	0.86	(0.14)	0.00	0.66	0.00	0.00	1.35	(1.79)	5.20
VALLX	1.45	(0.13)	0.00	(0.19)	0.00	0.00	2.47	(3.15)	8.56
STHYX	0.24	(0.02)	0.00	0.25	0.00	0.00	0.60	(0.48)	1.35
VLIFX	0.71	(0.05)	0.00	(0.14)	0.00	0.00	1.22	(1.53)	3.81
NTHEX	0.18	0.01	0.19	0.02	0.20	(0.33)	0.28	(0.55)	1.66

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