Vanguard Materials Correlations

Mutual Funds . USA . 
Fund . Vanguard Materials Index
VMIAX Fund  USD 97.82  0.28  0.29%   
The current 90-days correlation between Vanguard Materials Index and Vanguard Emerging Markets is 0.82 (i.e., Very poor diversification). The correlation of Vanguard Materials 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 Materials Correlation With Market

Almost no diversification

The correlation between Vanguard Materials Index and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard Materials Index 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 Materials Index. 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 nation.

Moving together with Vanguard Mutual Fund

  0.61VMLUX Vanguard Limited TermPairCorr
  0.82VMNVX Vanguard Global MinimumPairCorr
  0.96VMMSX Vanguard Emerging MarketsPairCorr
  0.82VMSIX Vanguard Multi SectorPairCorr
  0.99VMVAX Vanguard Mid CapPairCorr
  0.99VMVIX Vanguard Mid CapPairCorr
  0.93VMVFX Vanguard Global MinimumPairCorr
  0.96VMVLX Vanguard Mega CapPairCorr
  0.88VPADX Vanguard Pacific StockPairCorr
  0.88VPACX Vanguard Pacific StockPairCorr
  0.97VPCCX Vanguard PrimecapPairCorr
  0.88VPKIX Vanguard Pacific StockPairCorr
  0.98VPMCX Vanguard PrimecapPairCorr
  0.98VPMAX Vanguard PrimecapPairCorr
  0.97NAESX Vanguard Small CapPairCorr
  0.87VQNPX Vanguard Growth AndPairCorr
  0.92VRTPX Vanguard Reit IiPairCorr
  0.95VADGX Vanguard Advice SelectPairCorr
  0.99VAGVX Vanguard Advice SelectPairCorr
  0.86VAIGX Vanguard Advice SelectPairCorr
  0.89VSCIX Vanguard Small CapPairCorr
  0.85VSCGX Vanguard LifestrategyPairCorr
  0.97VSCPX Vanguard Small CapPairCorr
  0.89VSEMX Vanguard Extended MarketPairCorr
  0.96VSEQX 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 Materials 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 Materials' 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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