Value Line Correlations

VLEOX Fund

USD 62.50 0.12 0.19%

The current 90-days correlation between Value Line Small and Franklin International Growth is 0.65 (i.e., Poor diversification). The correlation of Value Line 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.

Value Line Correlation With Market

Very good diversification

The correlation between Value Line Small and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Value Line Small 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 Value Line Small. 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 producer price index.

For more information on how to buy Value Mutual Fund please use our How to Invest in Value Line guide.

Moving together with Value Mutual Fund

0.77	VLEIX	Value Line Small	Pair Corr
0.77	JGMIX	Janus Triton	Pair Corr
0.78	JGMRX	Janus Triton	Pair Corr
0.77	JGMAX	Janus Triton	Pair Corr
0.78	JGMCX	Janus Triton	Pair Corr
0.77	JGMNX	Janus Triton	Pair Corr

Moving against Value Mutual Fund

0.35	VILSX	Value Line Select	Pair Corr
0.33	VLAAX	Value Line Asset	Pair Corr
0.33	VLAIX	Value Line Asset	Pair Corr

Related Correlations Analysis

	FILRX	FNGAX	BEMIX	CIMDX	COVAX	PORIX	PORTX	DHMIX	MAPOX	POVSX
FILRX		1.0	0.13	0.4	0.61	0.38	0.38	0.32	0.82	0.38	FILRX
FNGAX	1.0		0.15	0.41	0.6	0.39	0.4	0.31	0.82	0.39	FNGAX
BEMIX	0.13	0.15		0.44	0.06	0.89	0.89	-0.57	0.19	0.91	BEMIX
CIMDX	0.4	0.41	0.44		0.42	0.6	0.6	0.16	0.53	0.6	CIMDX
COVAX	0.61	0.6	0.06	0.42		0.17	0.17	0.69	0.74	0.13	COVAX
PORIX	0.38	0.39	0.89	0.6	0.17		1.0	-0.47	0.39	0.92	PORIX
PORTX	0.38	0.4	0.89	0.6	0.17	1.0		-0.46	0.39	0.92	PORTX
DHMIX	0.32	0.31	-0.57	0.16	0.69	-0.47	-0.46		0.4	-0.43	DHMIX
MAPOX	0.82	0.82	0.19	0.53	0.74	0.39	0.39	0.4		0.4	MAPOX
POVSX	0.38	0.39	0.91	0.6	0.13	0.92	0.92	-0.43	0.4		POVSX
	FILRX	FNGAX	BEMIX	CIMDX	COVAX	PORIX	PORTX	DHMIX	MAPOX	POVSX

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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

FNGAX	+ 1.0	FILRX
PORTX	+ 1.0	PORIX
POVSX	+ 0.92	PORIX
POVSX	+ 0.92	PORTX
POVSX	+ 0.91	BEMIX
PORIX	+ 0.89	BEMIX

High negative correlations

DHMIX	- 0.57	BEMIX
DHMIX	- 0.47	PORIX
DHMIX	- 0.46	PORTX
POVSX	- 0.43	DHMIX

Risk-Adjusted Indicators

There is a big difference between Value Mutual Fund performing well and Value Line 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 Value Line'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
FILRX	0.75	(0.04)	0.00	0.37	0.00	0.00	1.34	(1.97)	4.89
FNGAX	0.76	(0.04)	0.00	0.41	0.00	0.00	1.30	(1.94)	4.86
BEMIX	0.59	0.16	0.10	(8.02)	0.67	(0.66)	1.22	(0.88)	4.17
CIMDX	0.67	0.03	(0.05)	(0.19)	0.73	(0.84)	1.17	(1.08)	5.74
COVAX	0.72	0.03	(0.05)	(0.05)	0.89	(0.83)	1.58	(1.40)	6.48
PORIX	0.49	0.04	(0.04)	(0.42)	0.63	(0.51)	1.10	(0.87)	3.57
PORTX	0.49	0.04	(0.04)	(0.42)	0.63	(0.51)	1.10	(0.87)	3.57
DHMIX	0.71	0.00	0.00	0.07	0.00	0.00	1.37	(1.24)	5.82
MAPOX	0.33	0.00	(0.13)	0.06	0.49	(0.31)	0.56	(0.66)	2.99
POVSX	0.60	0.05	(0.03)	(0.29)	0.79	(0.59)	1.18	(1.10)	4.19

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