Vela International Correlations

VEITX Fund  USD 15.22  0.05  0.33%   
The current 90-days correlation between Vela International and Alger Health Sciences is 0.46 (i.e., Very weak diversification). The correlation of Vela International 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.

Vela International Correlation With Market

Good diversification

The correlation between Vela International and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vela International 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 Vela International. 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 estimate.

Moving together with Vela Mutual Fund

  0.93VASDX Vela Short DurationPairCorr
  1.0VEILX Vela InternationalPairCorr
  0.96VELAX Vela Large CapPairCorr
  0.96VELIX Vela Large CapPairCorr
  0.93VESMX Vela Small CapPairCorr
  0.94VESAX Vela Small CapPairCorr
  0.93VESDX Vela Short DurationPairCorr
  0.94VIOAX Vela Income OpportunitiesPairCorr
  0.95VIOIX Vela Income OpportunitiesPairCorr
  0.97DISVX Dfa International SmallPairCorr
  0.98DFVQX Dfa International VectorPairCorr
  0.97FMNEX Free Market InternationalPairCorr
  0.97OANEX Oakmark InternationalPairCorr
  0.9KGGIX Kopernik Global AllPairCorr
  0.91KGGAX Kopernik Global AllPairCorr
  0.97OAZEX Oakmark InternationalPairCorr
  0.97OAYEX Oakmark InternationalPairCorr
  0.97OAKEX Oakmark InternationalPairCorr
  0.96VTSAX Vanguard Total StockPairCorr
  0.95VFIAX Vanguard 500 IndexPairCorr
  0.96VTSMX Vanguard Total StockPairCorr
  0.96VSMPX Vanguard Total StockPairCorr
  0.96VSTSX Vanguard Total StockPairCorr
  0.95VITSX Vanguard Total StockPairCorr
  0.95VFINX Vanguard 500 IndexPairCorr
  0.96VFFSX Vanguard 500 IndexPairCorr
  0.99VGTSX Vanguard Total InterPairCorr
  0.99VTIAX Vanguard Total InterPairCorr
  0.71TRREX T Rowe PricePairCorr
  0.95MITTX Massachusetts InvestorsPairCorr
  0.95GSPQX Goldman Sachs EquityPairCorr
  0.95SWCGX Schwab MarkettrackPairCorr
  0.95MHYIX Mainstay High YieldPairCorr
  0.96FBKFX Fidelity BalancedPairCorr
  0.95HRNRX Hood River New Steady GrowthPairCorr
  0.97CNPCX New PerspectivePairCorr
  0.95CGQYX Columbia DisciplinedPairCorr
  0.96SMGAX Saat Servative StrategyPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Vela Mutual Fund performing well and Vela International 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 Vela International'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.