Vela Income Correlations

VIOAX Fund

USD 9.61 0.03 0.31%

The current 90-days correlation between Vela Income Opportunities and Moderate Balanced Allocation is 0.17 (i.e., Average diversification). The correlation of Vela Income 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 Income Correlation With Market

Poor diversification

The correlation between Vela Income Opportunities and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vela Income Opportunities 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 Income Opportunities. 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

0.61	VEITX	Vela International	Pair Corr
0.88	VELAX	Vela Large Cap	Pair Corr
0.88	VELIX	Vela Large Cap	Pair Corr
0.81	VESMX	Vela Small Cap	Pair Corr
0.73	VESAX	Vela Small Cap	Pair Corr
1.0	VIOIX	Vela Income Opportunities	Pair Corr
0.78	FFIFX	American Funds	Pair Corr
0.81	FAIFX	American Funds	Pair Corr
0.8	IFACX	Income Fund	Pair Corr
0.81	IFAFX	Income Fund	Pair Corr
0.81	AMECX	Income Fund	Pair Corr
0.8	RIDBX	Income Fund	Pair Corr
0.81	CIMEX	Income Fund	Pair Corr
0.81	RIDFX	Income Fund	Pair Corr
0.8	CIMCX	Income Fund	Pair Corr
0.81	CIMFX	Income Fund	Pair Corr

Moving against Vela Mutual Fund

0.33	FOCPX	Fidelity Otc Portfolio	Pair Corr
0.32	MUIIX	Ultra Short Income	Pair Corr

Related Correlations Analysis

	SBMCX	TSMLX	LLAIX	FLMTX	RRPPX	SIRZX	LLMRX
SBMCX		0.86	0.83	0.83	0.68	0.86	0.84	SBMCX
TSMLX	0.86		0.74	0.92	0.91	0.92	0.74	TSMLX
LLAIX	0.83	0.74		0.85	0.71	0.85	0.99	LLAIX
FLMTX	0.83	0.92	0.85		0.91	0.93	0.84	FLMTX
RRPPX	0.68	0.91	0.71	0.91		0.87	0.7	RRPPX
SIRZX	0.86	0.92	0.85	0.93	0.87		0.86	SIRZX
LLMRX	0.84	0.74	0.99	0.84	0.7	0.86		LLMRX
	SBMCX	TSMLX	LLAIX	FLMTX	RRPPX	SIRZX	LLMRX

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Risk-Adjusted Indicators

There is a big difference between Vela Mutual Fund performing well and Vela Income 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 Income'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
SBMCX	0.45	(0.04)	(0.16)	0.89	(0.90)	4.08
TSMLX	0.34	(0.05)	(0.43)	0.54	(0.66)	2.66
LLAIX	0.51	(0.08)	(0.32)	0.74	(0.96)	7.15
FLMTX	0.24	(0.05)	(0.56)	0.37	(0.56)	1.96
RRPPX	0.30	(0.06)	(0.47)	0.55	(0.63)	2.34
SIRZX	0.24	(0.05)	(0.44)	0.48	(0.52)	2.43
LLMRX	0.48	(0.08)	(0.29)	0.86	(0.70)	7.44

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