Vanguard Tax-exempt Correlations

Mutual Funds . USA . 
Fund . Vanguard Tax Exempt Bond
VTEAX Fund  USD 20.08  0.01  0.05%   
The current 90-days correlation between Vanguard Tax Exempt and Vanguard Intermediate Term Government is 0.55 (i.e., Very weak diversification). The correlation of Vanguard Tax-exempt 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 Tax-exempt Correlation With Market

Average diversification

The correlation between Vanguard Tax Exempt Bond 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 Tax Exempt Bond 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 Tax Exempt Bond. 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 Vanguard Mutual Fund

  0.92VMLUX Vanguard Limited TermPairCorr
  0.92VMLTX Vanguard Limited TermPairCorr
  0.63VMNVX Vanguard Global MinimumPairCorr
  0.89VMSIX Vanguard Multi SectorPairCorr
  0.66VMVFX Vanguard Global MinimumPairCorr
  0.99VNJUX Vanguard New JerseyPairCorr
  0.92VNJTX Vanguard New JerseyPairCorr
  0.99VNYTX Vanguard New YorkPairCorr
  0.92VNYUX Vanguard New YorkPairCorr
  0.97VOHIX Vanguard Ohio LongPairCorr
  0.64VPADX Vanguard Pacific StockPairCorr
  0.64VPACX Vanguard Pacific StockPairCorr
  0.97VPALX Vanguard PennsylvaniaPairCorr
  0.99VPAIX Vanguard PennsylvaniaPairCorr
  0.64VPKIX Vanguard Pacific StockPairCorr
  0.61VPMCX Vanguard PrimecapPairCorr
  0.64VRTPX Vanguard Reit IiPairCorr
  0.67VAGVX Vanguard Advice SelectPairCorr
  0.69VAIPX Vanguard InflationPairCorr
  0.79VSCSX Vanguard Short TermPairCorr
  0.63VSBIX Vanguard Short TermPairCorr
  0.63VSBSX Vanguard Short TermPairCorr
  0.66VSEQX Vanguard Strategic EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Vanguard Mutual Fund performing well and Vanguard Tax-exempt 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 Tax-exempt'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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