Vela Large Correlations

VELIX Fund

USD 16.99 0.06 0.35%

The current 90-days correlation between Vela Large Cap and Alternative Asset Allocation is 0.18 (i.e., Average 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

Weak diversification

The correlation between Vela Large Cap and DJI is 0.3 (i.e., 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 gross domestic product.

Moving together with Vela Mutual Fund

0.63	VZ	Verizon Communications Earnings Call Tomorrow	Pair Corr
0.66	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.79	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.75	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.63	HD	Home Depot	Pair Corr
0.79	AA	Alcoa Corp	Pair Corr
0.74	TRV	The Travelers Companies	Pair Corr

Moving against Vela Mutual Fund

0.68

Boeing Fiscal Year End 29th of January 2025

Pair Corr

Related Correlations Analysis

	JAAPX	PRNHX	LEQCX	OTPIX	SCYVX	RTOUX
JAAPX		0.54	0.7	0.65	0.54	0.53	JAAPX
PRNHX	0.54		0.73	0.42	0.95	0.95	PRNHX
LEQCX	0.7	0.73		0.77	0.61	0.58	LEQCX
OTPIX	0.65	0.42	0.77		0.27	0.25	OTPIX
SCYVX	0.54	0.95	0.61	0.27		0.99	SCYVX
RTOUX	0.53	0.95	0.58	0.25	0.99		RTOUX
	JAAPX	PRNHX	LEQCX	OTPIX	SCYVX	RTOUX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
JAAPX	0.16	0.00	(0.08)	0.01	0.17	(0.20)	0.32	(0.31)	1.13
PRNHX	0.85	0.01	0.00	0.03	1.20	(0.85)	1.69	(1.60)	7.56
LEQCX	0.41	0.05	0.06	0.33	0.43	(0.44)	0.87	(0.71)	2.97
OTPIX	0.86	0.06	0.04	0.21	1.10	(0.88)	1.70	(1.78)	6.31
SCYVX	0.91	(0.02)	(0.02)	(0.01)	1.22	(0.97)	1.73	(1.91)	9.85
RTOUX	0.79	(0.02)	0.00	(0.02)	0.00	0.00	1.56	(1.46)	8.93

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