Vanguard New Correlations

VNJUX Fund

USD 11.52 0.02 0.17%

The current 90-days correlation between Vanguard New Jersey and Ab Bond Inflation is 0.24 (i.e., Modest diversification). The correlation of Vanguard New 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 New Correlation With Market

Significant diversification

The correlation between Vanguard New Jersey and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard New Jersey 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 New Jersey. 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

1.0	VNJTX	Vanguard New Jersey	Pair Corr
1.0	FRNJX	Franklin New Jersey	Pair Corr
0.98	FNJHX	Fidelity New Jersey	Pair Corr

Moving against Vanguard Mutual Fund

0.34	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.4	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.31	HPQ	HP Inc	Pair Corr
0.31	BAC	Bank of America Aggressive Push	Pair Corr

Related Correlations Analysis

	ABNTX	LIFAX	MFTFX	AMFAX	GPMFX	FIBLX	ANBIX	BPRIX
ABNTX		0.48	0.63	0.69	0.71	0.96	1.0	0.93	ABNTX
LIFAX	0.48		-0.1	0.0	-0.01	0.3	0.48	0.24	LIFAX
MFTFX	0.63	-0.1		0.95	0.95	0.67	0.63	0.66	MFTFX
AMFAX	0.69	0.0	0.95		0.99	0.75	0.7	0.73	AMFAX
GPMFX	0.71	-0.01	0.95	0.99		0.78	0.72	0.77	GPMFX
FIBLX	0.96	0.3	0.67	0.75	0.78		0.96	0.98	FIBLX
ANBIX	1.0	0.48	0.63	0.7	0.72	0.96		0.93	ANBIX
BPRIX	0.93	0.24	0.66	0.73	0.77	0.98	0.93		BPRIX
	ABNTX	LIFAX	MFTFX	AMFAX	GPMFX	FIBLX	ANBIX	BPRIX

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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

ANBIX	+ 1.0	ABNTX
GPMFX	+ 0.99	AMFAX
BPRIX	+ 0.98	FIBLX
FIBLX	+ 0.96	ABNTX
ANBIX	+ 0.96	FIBLX
AMFAX	+ 0.95	MFTFX

High negative correlations

MFTFX	- 0.1	LIFAX
GPMFX	- 0.01	LIFAX
AMFAX	- 0.0	LIFAX

Risk-Adjusted Indicators

There is a big difference between Vanguard Mutual Fund performing well and Vanguard New 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 New'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
ABNTX	0.14	(0.01)	(0.49)	(0.75)	0.19	(0.17)	0.29	(0.30)	0.88
LIFAX	0.12	(0.01)	(0.59)	(0.02)	0.11	(0.16)	0.26	(0.26)	0.77
MFTFX	0.98	(0.15)	0.00	(0.09)	0.00	0.00	1.70	(1.95)	5.42
AMFAX	0.41	(0.08)	0.00	(0.11)	0.00	0.00	0.79	(0.92)	2.43
GPMFX	0.42	(0.09)	0.00	(0.12)	0.00	0.00	0.75	(0.89)	2.31
FIBLX	0.20	(0.02)	0.00	(2.01)	0.00	0.00	0.32	(0.43)	1.26
ANBIX	0.14	(0.01)	(0.50)	(0.42)	0.19	(0.17)	0.29	(0.29)	0.87
BPRIX	0.21	(0.02)	0.00	(2.59)	0.00	0.00	0.40	(0.51)	1.11

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