Vanguard High-yield Correlations

Mutual Funds . USA . 
Fund . Vanguard High Yield Porate
VWEHX Fund  USD 5.45  0.01  0.18%   
The current 90-days correlation between Vanguard High Yield and Vanguard Short Term Investment Grade is 0.66 (i.e., Poor 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

Very good diversification

The correlation between Vanguard High Yield Porate and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard High Yield Porate 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 Porate. 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

  0.95VMLUX Vanguard Limited TermPairCorr
  0.95VMLTX Vanguard Limited TermPairCorr
  0.91VMNVX Vanguard Global MinimumPairCorr
  0.76VMMSX Vanguard Emerging MarketsPairCorr
  0.95VMSIX Vanguard Multi SectorPairCorr
  0.89VMVFX Vanguard Global MinimumPairCorr
  0.65VMVLX Vanguard Mega CapPairCorr
  0.65VNJUX Vanguard New JerseyPairCorr
  0.63VNJTX Vanguard New JerseyPairCorr
  0.68VOHIX Vanguard Ohio LongPairCorr
  0.81VPADX Vanguard Pacific StockPairCorr
  0.81VPACX Vanguard Pacific StockPairCorr
  0.71VPALX Vanguard PennsylvaniaPairCorr
  0.69VPAIX Vanguard PennsylvaniaPairCorr
  0.81VPKIX Vanguard Pacific StockPairCorr
  0.76VRTPX Vanguard Reit IiPairCorr
  0.72VAGVX Vanguard Advice SelectPairCorr
  0.75VAIGX Vanguard Advice SelectPairCorr
  0.9VAIPX Vanguard Inflation-protecPairCorr
  0.89VSCSX Vanguard Short TermPairCorr
  0.86VSBIX Vanguard Short TermPairCorr
  0.87VSBSX Vanguard Short TermPairCorr

Moving against Vanguard Mutual Fund

  0.43NAESX Vanguard Small CapPairCorr
  0.42VSCIX Vanguard Small CapPairCorr
  0.47VSGIX Vanguard Small CapPairCorr
  0.42VSCPX Vanguard Small CapPairCorr
  0.42VSGAX Vanguard Small CapPairCorr
  0.39VSEMX Vanguard Extended MarketPairCorr
  0.38VSEQX Vanguard Strategic EquityPairCorr
  0.37VSIIX Vanguard Small CapPairCorr

Related Correlations Analysis

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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.

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