Vanguard High-yield Correlations
| VWALX Fund | USD 10.49 0.04 0.38% |
The current 90-days correlation between Vanguard High Yield and Vanguard Intermediate Term Tax Exempt is 0.95 (i.e., Almost no diversification). The correlation of Vanguard High-yield 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-yield Correlation With Market
Average diversification
The correlation between Vanguard High Yield Tax Exempt 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 High Yield Tax Exempt and DJI in the same portfolio, assuming nothing else is changed.
Vanguard |
Moving together with Vanguard Mutual Fund
| 0.78 | VMLUX | Vanguard Limited Term | PairCorr |
| 0.78 | VMLTX | Vanguard Limited Term | PairCorr |
| 0.93 | VNJUX | Vanguard New Jersey | PairCorr |
| 0.91 | VNYTX | Vanguard New York | PairCorr |
| 0.96 | VNYUX | Vanguard New York | PairCorr |
| 0.99 | VOHIX | Vanguard Ohio Long | PairCorr |
| 0.93 | VPALX | Vanguard Pennsylvania | PairCorr |
| 0.76 | VRTPX | Vanguard Reit Ii | PairCorr |
| 0.61 | VAGVX | Vanguard Advice Select | PairCorr |
| 0.66 | VAIGX | Vanguard Advice Select | PairCorr |
| 0.66 | VSCGX | Vanguard Lifestrategy | PairCorr |
Related Correlations Analysis
| 0.92 | 0.78 | 0.86 | 0.72 | VWIUX | ||
| 0.92 | 0.66 | 0.74 | 0.59 | VWLUX | ||
| 0.78 | 0.66 | 0.95 | 0.94 | VWEAX | ||
| 0.86 | 0.74 | 0.95 | 0.96 | VMLUX | ||
| 0.72 | 0.59 | 0.94 | 0.96 | VWSUX | ||
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Risk-Adjusted Indicators
There is a big difference between Vanguard Mutual Fund performing well and Vanguard High-yield 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-yield'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VWIUX | 0.14 | (0.01) | 0.00 | (0.42) | 0.00 | 0.29 | 0.89 | |||
| VWLUX | 0.20 | (0.03) | 0.00 | (1.54) | 0.00 | 0.38 | 1.21 | |||
| VWEAX | 0.15 | 0.02 | 0.31 | 0.15 | 0.00 | 0.37 | 0.93 | |||
| VMLUX | 0.08 | 0.00 | 0.42 | 0.12 | 0.00 | 0.18 | 0.55 | |||
| VWSUX | 0.04 | 0.01 | 0.77 | 0.27 | 0.00 | 0.06 | 0.38 |