Vanguard Long Correlations

Mutual Funds . USA . 
Fund . Vanguard Long Term Tax Exempt
VWLUX Fund  USD 10.91  0.01  0.09%   
The current 90-days correlation between Vanguard Long Term and Vanguard Intermediate Term Tax Exempt is 0.97 (i.e., Almost no diversification). The correlation of Vanguard Long 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 Long Correlation With Market

Average diversification

The correlation between Vanguard Long Term Tax Exempt and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard Long Term 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 Long Term 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 employment.

Moving together with Vanguard Mutual Fund

  0.74VMIAX Vanguard Materials IndexPairCorr
  0.85VMNVX Vanguard Global MinimumPairCorr
  0.66VMSIX Vanguard Multi SectorPairCorr
  0.79VMVAX Vanguard Mid CapPairCorr
  0.79VMVIX Vanguard Mid CapPairCorr
  0.68VMVFX Vanguard Global MinimumPairCorr
  1.0VNJUX Vanguard New JerseyPairCorr
  1.0VNJTX Vanguard New JerseyPairCorr
  0.95VNYTX Vanguard New YorkPairCorr
  0.95VNYUX Vanguard New YorkPairCorr
  1.0VOHIX Vanguard Ohio LongPairCorr
  0.76VPADX Vanguard Pacific StockPairCorr
  0.76VPACX Vanguard Pacific StockPairCorr
  0.82VPCCX Vanguard PrimecapPairCorr
  0.94VPALX Vanguard PennsylvaniaPairCorr
  1.0VPAIX Vanguard PennsylvaniaPairCorr
  0.78VPKIX Vanguard Pacific StockPairCorr
  0.83VPMCX Vanguard PrimecapPairCorr
  0.63NAESX Vanguard Small CapPairCorr
  0.78VQNPX Vanguard Growth AndPairCorr
  0.85VRTPX Vanguard Reit IiPairCorr
  0.75VADGX Vanguard Advice SelectPairCorr
  0.86VAGVX Vanguard Advice SelectPairCorr
  0.77VAIPX Vanguard InflationPairCorr
  0.61VSCIX Vanguard Small CapPairCorr
  0.72VSCGX Vanguard LifestrategyPairCorr
  0.61VSCPX Vanguard Small CapPairCorr
  0.72VSEQX 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 Long 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 Long'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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