Vela Large Correlations

Mutual Funds . USA . 
Fund . Vela Large Cap
VELAX Fund  USD 16.39  0.07  0.43%   
The current 90-days correlation between Vela Large Cap and Tortoise Energy Independence is 0.04 (i.e., Significant diversification). The correlation of Vela Large 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.

Vela Large Correlation With Market

Very weak diversification

The correlation between Vela Large Cap and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vela Large Cap 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 Vela Large Cap. 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 nation.

Moving together with Vela Mutual Fund

  1.0VELIX Vela Large CapPairCorr
  0.64VESMX Vela Small CapPairCorr
  0.64VESAX Vela Small CapPairCorr
  0.67VTSAX Vanguard Total StockPairCorr
  0.65VFIAX Vanguard 500 IndexPairCorr
  0.67VTSMX Vanguard Total StockPairCorr
  0.66VITSX Vanguard Total StockPairCorr
  0.66VSMPX Vanguard Total StockPairCorr
  0.66VSTSX Vanguard Total StockPairCorr
  0.65VFINX Vanguard 500 IndexPairCorr
  0.64VFFSX Vanguard 500 IndexPairCorr
  0.7VINIX Vanguard InstitutionalPairCorr
  0.7VIIIX Vanguard InstitutionalPairCorr

Moving against Vela Mutual Fund

  0.42HIO Western Asset HighPairCorr
  0.48RYARX Inverse Sp 500 Potential GrowthPairCorr

Related Correlations Analysis

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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   
VENAX
+ 0.98
HNRGX
ALEFX
+ 0.97
XEMOX
ALEFX
+ 0.85
HNRGX
XEMOX
+ 0.82
HNRGX
VENAX
+ 0.82
ALEFX
VENAX
+ 0.79
XEMOX
  
High negative correlations   
ALEFX
- 0.06
XNDPX
XEMOX
- 0.03
XNDPX

Risk-Adjusted Indicators

There is a big difference between Vela Mutual Fund performing well and Vela Large 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 Vela Large'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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