Vanguard Intermediate-ter Correlations

Mutual Funds . USA . 
Fund . Vanguard Intermediate Term Tax Exempt
VWITX Fund  USD 13.47  0.02  0.15%   
The current 90-days correlation between Vanguard Intermediate-ter and Vanguard Limited Term Tax Exempt is 0.82 (i.e., Very poor diversification). The correlation of Vanguard Intermediate-ter 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 Intermediate-ter Correlation With Market

Good diversification

The correlation between Vanguard Intermediate Term Tax and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard Intermediate Term Tax 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 Intermediate 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 manufacturing.

Moving together with VANGUARD Mutual Fund

  0.69VMIAX Vanguard Materials IndexPairCorr
  0.94VMLUX Vanguard Limited TermPairCorr
  0.94VMLTX Vanguard Limited TermPairCorr
  0.7VMNVX Vanguard Global MinimumPairCorr
  0.79VMMSX Vanguard Emerging MarketsPairCorr
  0.9VMSIX Vanguard Multi SectorPairCorr
  0.77VMVAX Vanguard Mid CapPairCorr
  0.78VMVIX Vanguard Mid CapPairCorr
  0.7VMVFX Vanguard Global MinimumPairCorr
  0.73VMVLX Vanguard Mega CapPairCorr
  0.82VNJUX Vanguard New JerseyPairCorr
  0.82VNJTX Vanguard New JerseyPairCorr
  0.77VNYTX Vanguard New YorkPairCorr
  0.87VNYUX Vanguard New YorkPairCorr
  0.74VOHIX Vanguard Ohio LongPairCorr
  0.84VPADX Vanguard Pacific StockPairCorr
  0.84VPACX Vanguard Pacific StockPairCorr
  0.73VPCCX Vanguard PrimecapPairCorr
  0.79VPALX Vanguard PennsylvaniaPairCorr
  0.87VPAIX Vanguard PennsylvaniaPairCorr
  0.84VPKIX Vanguard Pacific StockPairCorr
  0.7VPMCX Vanguard PrimecapPairCorr
  0.71VPMAX Vanguard PrimecapPairCorr
  0.75NAESX Vanguard Small CapPairCorr
  0.81VQNPX Vanguard Growth AndPairCorr
  0.64VADGX Vanguard Advice SelectPairCorr
  0.75VAGVX Vanguard Advice SelectPairCorr
  0.88VAIPX Vanguard Inflation-protecPairCorr
  0.75VSCIX Vanguard Small CapPairCorr
  0.86VSCGX Vanguard LifestrategyPairCorr
  0.75VSCPX Vanguard Small CapPairCorr
  0.9VSCSX Vanguard Short TermPairCorr
  0.91VSBIX Vanguard Short TermPairCorr
  0.9VSBSX Vanguard Short TermPairCorr
  0.84VSEQX Vanguard Strategic EquityPairCorr
  0.82VASGX Vanguard LifestrategyPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between VANGUARD Mutual Fund performing well and Vanguard Intermediate-ter 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 Intermediate-ter'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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