Vanguard Short Correlations

VWSUX Fund

USD 15.87 0.01 0.06%

The current 90-days correlation between Vanguard Short Term and Vanguard Materials Index is -0.09 (i.e., Good diversification). The correlation of Vanguard Short 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 Short Correlation With Market

Good diversification

The correlation between Vanguard Short Term Tax Exempt and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard Short Term Tax Exempt 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 Short 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 population.

Moving together with Vanguard Mutual Fund

0.89	VMLUX	Vanguard Limited Term	Pair Corr
0.89	VMLTX	Vanguard Limited Term	Pair Corr
0.76	VMSIX	Vanguard Multi Sector	Pair Corr
0.68	VMVLX	Vanguard Mega Cap	Pair Corr
0.66	VNJUX	Vanguard New Jersey	Pair Corr
0.66	VNJTX	Vanguard New Jersey	Pair Corr
0.62	VNYTX	Vanguard New York	Pair Corr
0.62	VNYUX	Vanguard New York	Pair Corr
0.68	VOHIX	Vanguard Ohio Long	Pair Corr
0.81	VPCCX	Vanguard Primecap	Pair Corr
0.64	VPALX	Vanguard Pennsylvania	Pair Corr
0.64	VPAIX	Vanguard Pennsylvania	Pair Corr
0.8	VPMCX	Vanguard Primecap	Pair Corr
0.8	VPMAX	Vanguard Primecap	Pair Corr
0.67	VADGX	Vanguard Advice Select	Pair Corr
0.76	VAGVX	Vanguard Advice Select	Pair Corr
0.76	VSCSX	Vanguard Short Term	Pair Corr
0.79	VSBIX	Vanguard Short Term	Pair Corr
0.78	VSBSX	Vanguard Short Term	Pair Corr

Moving against Vanguard Mutual Fund

0.74	VAIGX	Vanguard Advice Select	Pair Corr
0.34	VRTPX	Vanguard Reit Ii	Pair Corr

Related Correlations Analysis

	VMIAX	VMLUX	VMLTX	VMNVX	VVIAX	VMMSX	VMNIX	VMNFX	VDVIX
VMIAX		0.0	0.0	-0.02	0.31	-0.22	-0.48	-0.48	0.14	VMIAX
VMLUX	0.0		1.0	0.26	0.53	0.41	0.39	0.39	0.53	VMLUX
VMLTX	0.0	1.0		0.26	0.53	0.41	0.39	0.39	0.53	VMLTX
VMNVX	-0.02	0.26	0.26		0.77	0.64	0.12	0.12	0.73	VMNVX
VVIAX	0.31	0.53	0.53	0.77		0.68	0.17	0.17	0.89	VVIAX
VMMSX	-0.22	0.41	0.41	0.64	0.68		0.36	0.36	0.87	VMMSX
VMNIX	-0.48	0.39	0.39	0.12	0.17	0.36		1.0	0.16	VMNIX
VMNFX	-0.48	0.39	0.39	0.12	0.17	0.36	1.0		0.16	VMNFX
VDVIX	0.14	0.53	0.53	0.73	0.89	0.87	0.16	0.16		VDVIX
	VMIAX	VMLUX	VMLTX	VMNVX	VVIAX	VMMSX	VMNIX	VMNFX	VDVIX

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

VMLTX	+ 1.0	VMLUX
VMNFX	+ 1.0	VMNIX
VDVIX	+ 0.89	VVIAX
VDVIX	+ 0.87	VMMSX
VVIAX	+ 0.77	VMNVX
VDVIX	+ 0.73	VMNVX

High negative correlations

VMNFX	- 0.48	VMIAX
VMNIX	- 0.48	VMIAX
VMMSX	- 0.22	VMIAX
VMNVX	- 0.02	VMIAX
VMLTX	- 0.0	VMIAX
VMLUX	- 0.0	VMIAX

Risk-Adjusted Indicators

There is a big difference between Vanguard Mutual Fund performing well and Vanguard Short 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 Short'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
VMIAX	0.80	(0.09)	(0.09)	(0.01)	0.91	(0.88)	1.85	(1.62)	3.69
VMLUX	0.05	(0.01)	(0.77)	0.57	0.00	(0.14)	0.09	(0.09)	0.37
VMLTX	0.05	(0.01)	(0.77)	0.57	0.00	(0.14)	0.09	(0.09)	0.37
VMNVX	0.30	(0.01)	(0.14)	0.05	0.35	(0.31)	0.62	(0.49)	1.97
VVIAX	0.47	0.01	(0.02)	0.09	0.48	(0.55)	0.91	(0.98)	2.54
VMMSX	0.62	0.00	(0.02)	0.08	0.83	(0.65)	1.25	(0.98)	4.83
VMNIX	0.38	0.02	(0.11)	(0.41)	0.43	(0.41)	0.73	(0.78)	1.90
VMNFX	0.38	0.02	(0.10)	(0.55)	0.42	(0.41)	0.72	(0.78)	1.96
VDVIX	0.57	0.01	0.00	0.09	0.71	(0.56)	1.26	(1.25)	2.87

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