Vanguard Mega Correlations

MGV Etf

USD 143.52 1.63 1.12%

The current 90-days correlation between Vanguard Mega Cap and Vanguard Mega Cap is 0.61 (i.e., Poor diversification). The correlation of Vanguard Mega 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 Mega Correlation With Market

Very poor diversification

The correlation between Vanguard Mega Cap and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard Mega Cap and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Vanguard Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Vanguard Mega Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Vanguard Etf

1.0	VTV	Vanguard Value Index	Pair Corr
0.95	VYM	Vanguard High Dividend	Pair Corr
0.99	IWD	iShares Russell 1000	Pair Corr
0.98	DGRO	iShares Core Dividend	Pair Corr
0.95	IVE	iShares SP 500	Pair Corr
0.95	SPYV	SPDR Portfolio SP	Pair Corr
0.96	IUSV	iShares Core SP	Pair Corr
0.93	NOBL	ProShares SP 500	Pair Corr
0.96	FNDX	Schwab Fundamental Large	Pair Corr
0.94	VLUE	iShares MSCI USA	Pair Corr
0.75	GDXU	MicroSectors Gold Miners	Pair Corr
0.8	MUU	Direxion Daily MU	Pair Corr
0.81	JNUG	Direxion Daily Junior	Pair Corr
0.76	MULL	GraniteShares 2x Long	Pair Corr
0.81	NUGT	Direxion Daily Gold	Pair Corr
0.89	AGQ	ProShares Ultra Silver	Pair Corr
0.84	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.73	SHNY	Microsectors Gold	Pair Corr
0.72	DD	Dupont De Nemours	Pair Corr
0.93	AA	Alcoa Corp	Pair Corr
0.83	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.73	XOM	Exxon Mobil Corp	Pair Corr
0.73	AXP	American Express	Pair Corr
0.73	JNJ	Johnson Johnson	Pair Corr
0.8	WMT	Walmart Common Stock	Pair Corr
0.65	CAT	Caterpillar	Pair Corr

Moving against Vanguard Etf

0.67	PG	Procter Gamble	Pair Corr
0.55	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	MGC	VONE	VUIAX	VPU	VIAAX	VIGI	VDE	ESGD	VENAX	VTWO
MGC		0.98	-0.54	-0.55	0.66	0.64	0.54	0.71	0.54	0.7	MGC
VONE	0.98		-0.53	-0.54	0.76	0.75	0.52	0.76	0.52	0.81	VONE
VUIAX	-0.54	-0.53		0.99	-0.48	-0.48	-0.56	-0.61	-0.57	-0.42	VUIAX
VPU	-0.55	-0.54	0.99		-0.49	-0.49	-0.58	-0.61	-0.58	-0.43	VPU
VIAAX	0.66	0.76	-0.48	-0.49		0.99	0.45	0.82	0.45	0.78	VIAAX
VIGI	0.64	0.75	-0.48	-0.49	0.99		0.41	0.83	0.41	0.78	VIGI
VDE	0.54	0.52	-0.56	-0.58	0.45	0.41		0.44	1.0	0.27	VDE
ESGD	0.71	0.76	-0.61	-0.61	0.82	0.83	0.44		0.44	0.64	ESGD
VENAX	0.54	0.52	-0.57	-0.58	0.45	0.41	1.0	0.44		0.27	VENAX
VTWO	0.7	0.81	-0.42	-0.43	0.78	0.78	0.27	0.64	0.27		VTWO
	MGC	VONE	VUIAX	VPU	VIAAX	VIGI	VDE	ESGD	VENAX	VTWO

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

VENAX	+ 1.0	VDE
VPU	+ 0.99	VUIAX
VIGI	+ 0.99	VIAAX
VONE	+ 0.98	MGC
ESGD	+ 0.83	VIGI
ESGD	+ 0.82	VIAAX

High negative correlations

ESGD	- 0.61	VPU
ESGD	- 0.61	VUIAX
VENAX	- 0.58	VPU
VDE	- 0.58	VPU
VENAX	- 0.57	VUIAX
VDE	- 0.56	VUIAX

Vanguard Mega Constituents Risk-Adjusted Indicators

There is a big difference between Vanguard Etf performing well and Vanguard Mega ETF 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 Mega'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
MGC	0.61	(0.01)	(0.02)	0.06	0.83	(0.62)	1.33	(1.27)	3.41
VONE	0.61	(0.02)	(0.02)	0.05	0.89	(0.58)	1.17	(1.22)	3.27
VUIAX	0.64	(0.10)	0.00	(0.24)	0.00	0.00	1.25	(1.36)	4.41
VPU	0.64	(0.11)	0.00	(0.20)	0.00	0.00	1.24	(1.34)	3.64
VIAAX	0.58	(0.02)	(0.04)	0.04	0.77	(0.57)	1.01	(1.26)	3.02
VIGI	0.55	(0.02)	(0.05)	0.03	0.73	(0.52)	0.97	(1.17)	2.74
VDE	0.97	0.00	(0.03)	0.06	1.28	(0.92)	2.03	(1.77)	5.10
ESGD	0.58	0.06	0.02	0.34	0.71	(0.57)	1.17	(1.29)	2.66
VENAX	0.94	(0.01)	(0.03)	0.05	1.24	(0.92)	2.03	(1.78)	5.09
VTWO	1.02	(0.03)	0.00	0.05	1.21	(1.06)	1.93	(1.97)	5.56

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