Vela Large Correlations

Mutual Funds . USA . 
Fund . Vela Large Cap
VELIX Fund  USD 17.44  0.08  0.46%   
The current 90-days correlation between Vela Large Cap and Ridgeworth Seix Government is 0.08 (i.e., Significant diversification). The correlation of Vela Large 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 Large Correlation With Market

Almost no diversification

The correlation between Vela Large Cap and DJI is 0.96 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vela Large Cap 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 Large Cap. 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 gross domestic product.

Moving together with Vela Mutual Fund

  0.89VASDX Vela Short DurationPairCorr
  0.94VEILX Vela InternationalPairCorr
  0.94VEITX Vela InternationalPairCorr
  1.0VELAX Vela Large CapPairCorr
  0.98VESMX Vela Small CapPairCorr
  0.98VESAX Vela Small CapPairCorr
  0.87VESDX Vela Short DurationPairCorr
  0.96VIOAX Vela Income OpportunitiesPairCorr
  0.95VIOIX Vela Income OpportunitiesPairCorr
  0.85VTSAX Vanguard Total StockPairCorr
  0.85VFIAX Vanguard 500 IndexPairCorr
  0.85VTSMX Vanguard Total StockPairCorr
  0.85VITSX Vanguard Total StockPairCorr
  0.85VSMPX Vanguard Total StockPairCorr
  0.85VSTSX Vanguard Total StockPairCorr
  0.85VFINX Vanguard 500 IndexPairCorr
  0.85VFFSX Vanguard 500 IndexPairCorr
  0.85VINIX Vanguard InstitutionalPairCorr
  0.99VIIIX Vanguard InstitutionalPairCorr
  0.87PFN Pimco Income StrategyPairCorr
  0.9CIF Mfs Intermediate HighPairCorr
  0.66PCF Putnam High IncomePairCorr
  0.83SPMIX Sp Midcap IndexPairCorr
  0.96ECBLX Eaton Vance FloatingPairCorr
  0.97SNOAX Snow Capital OpportunityPairCorr
  0.99HRMVX Harbor Mid CapPairCorr
  0.84FHTIX Federated High YieldPairCorr
  0.96VSCVX Victory Integrity SmallPairCorr
  0.98CPGAX American Funds GlobalPairCorr
  0.8SWVXX Schwab Value AdvantagePairCorr
  0.99FSTRX Federated Mdt LargePairCorr
  0.8STPXX Ubs Money SeriesPairCorr
  0.83RULFX Rbc Ultra ShortPairCorr
  0.75TTRBX Ambrus Core BondPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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