Vanguard Massachusetts Correlations

Mutual Funds . USA . 
Fund . Vanguard Massachusetts Tax Exempt
VMATX Fund  USD 9.90  0.04  0.41%   
The current 90-days correlation between Vanguard Massachusetts and Vanguard Ohio Long Term is 0.97 (i.e., Almost no diversification). The correlation of Vanguard Massachusetts 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 Massachusetts Correlation With Market

Average diversification

The correlation between Vanguard Massachusetts Tax Exe and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard Massachusetts Tax Exe 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 Vanguard Massachusetts Tax Exempt. 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 estimate.

Moving together with Vanguard Mutual Fund

  0.64VMLUX Vanguard Limited TermPairCorr
  0.64VMLTX Vanguard Limited TermPairCorr
  0.99VNJUX Vanguard New JerseyPairCorr
  0.99VNJTX Vanguard New JerseyPairCorr
  0.99VNYTX Vanguard New YorkPairCorr
  0.99VNYUX Vanguard New YorkPairCorr
  0.99VOHIX Vanguard Ohio LongPairCorr
  0.98VPALX Vanguard PennsylvaniaPairCorr
  0.98VPAIX Vanguard PennsylvaniaPairCorr
  0.69VRTPX Vanguard Reit IiPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Vanguard Mutual Fund performing well and Vanguard Massachusetts 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 Massachusetts' 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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