Broad Cap Correlations

Mutual Funds . USA . 
Fund . Broad Cap Value
VBCVX Fund  USD 16.81  0.02  0.12%   
The current 90-days correlation between Broad Cap Value and Short Oil Gas is -0.07 (i.e., Good diversification). The correlation of Broad Cap 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.

Broad Cap Correlation With Market

Very poor diversification

The correlation between Broad Cap Value and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Broad Cap Value 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 Broad Cap Value. 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 unemployment.

Moving together with Broad Mutual Fund

  0.91VMIDX Mid Cap IndexPairCorr
  0.78VSTIX Stock Index FundPairCorr
  0.86VSSVX Small Cap SpecialPairCorr
  0.9VCGAX Growth IncomePairCorr
  0.96VCFVX Foreign ValuePairCorr
  0.87VCIEX International EquitiesPairCorr
  0.62VCIFX International GovernmentPairCorr
  0.99VCIGX Valic Company IPairCorr
  0.83VCSOX Global Social AwarenessPairCorr
  0.78VCSLX Small Cap IndexPairCorr
  0.71VDAFX Dynamic AllocationPairCorr
  0.87VVMCX Valic Company IPairCorr
  0.84VVSGX Valic Company IPairCorr
  0.9VVSCX Valic Company IPairCorr
  0.8VGCLX Valic Company IPairCorr
  0.84VGLSX Global StrategyPairCorr
  0.92VHYLX Valic Company IPairCorr
  0.82VIOPX Valic Company IPairCorr
  0.86VLAGX Valic Company IPairCorr
  0.71VLCGX Large Capital GrowthPairCorr
  0.75VLSMX Valic Company IPairCorr
  0.98VVIAX Vanguard Value IndexPairCorr

Moving against Broad Mutual Fund

  0.4VCTPX Inflation ProtectedPairCorr

Related Correlations Analysis


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

HNRGX
+ 0.8
GMOWX
HNRGX
+ 0.79
BACCX
DNLAX
+ 0.76
GMOWX
DNLAX
+ 0.62
HNRGX
SMAPX
+ 0.55
BACCX
SMAPX
+ 0.55
DNLAX
  

High negative correlations

BACCX
- 0.77
SNPIX
SMAPX
- 0.76
SNPIX
HNRGX
- 0.72
SNPIX
GMOWX
- 0.54
SNPIX
DNLAX
- 0.52
SNPIX

Risk-Adjusted Indicators

There is a big difference between Broad Mutual Fund performing well and Broad Cap 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 Broad Cap'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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