Vanguard Limited-term Correlations

Mutual Funds . USA . 
Fund . Vanguard Limited Term Tax Exempt
VMLUX Fund  USD 10.84  0.01  0.09%   
The current 90-days correlation between Vanguard Limited Term and Vanguard Intermediate Term Tax Exempt is 0.26 (i.e., Modest diversification). The correlation of Vanguard Limited-term 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 Limited-term Correlation With Market

Average diversification

The correlation between Vanguard Limited Term Tax Exem and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard Limited Term Tax Exem 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 Limited Term 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 employment.

Moving together with Vanguard Mutual Fund

  1.0VMLTX Vanguard Limited TermPairCorr
  0.89VMNVX Vanguard Global MinimumPairCorr
  0.74VMMSX Vanguard Emerging MarketsPairCorr
  0.94VMSIX Vanguard Multi SectorPairCorr
  0.88VMVFX Vanguard Global MinimumPairCorr
  0.61VMVLX Vanguard Mega CapPairCorr
  0.78VPADX Vanguard Pacific StockPairCorr
  0.78VPACX Vanguard Pacific StockPairCorr
  0.76VRTPX Vanguard Reit IiPairCorr
  0.67VAGVX Vanguard Advice SelectPairCorr
  0.89VSCSX Vanguard Short TermPairCorr
  0.85VSBIX Vanguard Short TermPairCorr
  0.86VSBSX Vanguard Short TermPairCorr
  0.9VSGBX Vanguard Short TermPairCorr

Moving against Vanguard Mutual Fund

  0.52NAESX Vanguard Small CapPairCorr
  0.52VSCIX Vanguard Small CapPairCorr
  0.47VSCPX Vanguard Small CapPairCorr
  0.45VSEMX Vanguard Extended MarketPairCorr
  0.38VMNIX Vanguard Market NeutralPairCorr
  0.38VMNFX Vanguard Market NeutralPairCorr
  0.36VQNPX Vanguard Growth AndPairCorr
  0.56VSGIX Vanguard Small Cap Potential GrowthPairCorr
  0.52VSGAX Vanguard Small Cap Potential GrowthPairCorr
  0.51VSPMX Vanguard Sp MidPairCorr
  0.49VSEQX Vanguard Strategic EquityPairCorr
  0.47VSIIX Vanguard Small CapPairCorr
  0.47VSMAX Vanguard Small CapPairCorr
  0.42VSIAX Vanguard Small CapPairCorr
  0.33VSMPX Vanguard Total StockPairCorr
  0.33VSTSX Vanguard Total StockPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Vanguard Mutual Fund performing well and Vanguard Limited-term 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 Limited-term'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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