Vanguard High Correlations

Mutual Funds . USA . 
Fund . Vanguard High Yield Tax Exempt
VWAHX Fund  USD 10.45  0.05  0.48%   
The current 90-days correlation between Vanguard High Yield and Vanguard Intermediate Term Tax Exempt is 0.96 (i.e., Almost no diversification). The correlation of Vanguard High 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 High Correlation With Market

Average diversification

The correlation between Vanguard High Yield Tax Exempt and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard High Yield Tax Exempt 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 High Yield 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 rate.

Moving together with Vanguard Mutual Fund

  0.81VMLUX Vanguard Limited TermPairCorr
  0.81VMLTX Vanguard Limited TermPairCorr
  0.62VMNVX Vanguard Global MinimumPairCorr
  0.69VMSIX Vanguard Multi SectorPairCorr
  0.98VNJUX Vanguard New JerseyPairCorr
  0.98VNJTX Vanguard New JerseyPairCorr
  0.96VNYTX Vanguard New YorkPairCorr
  0.96VNYUX Vanguard New YorkPairCorr
  0.99VOHIX Vanguard Ohio LongPairCorr
  1.0VPALX Vanguard PennsylvaniaPairCorr
  0.99VPAIX Vanguard PennsylvaniaPairCorr
  0.79VRTPX Vanguard Reit IiPairCorr
  0.66VAIGX Vanguard Advice Select Potential GrowthPairCorr
  0.62VAIPX Vanguard Inflation-protecPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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