Vanguard Ohio Correlations

VOHIX Fund

USD 11.70 0.01 0.09%

The current 90-days correlation between Vanguard Ohio Long and Science Technology Fund is -0.15 (i.e., Good diversification). The correlation of Vanguard Ohio 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 Ohio Correlation With Market

Good diversification

The correlation between Vanguard Ohio Long Term and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard Ohio Long Term 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 Ohio Long Term. 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 Vanguard Mutual Fund

0.65	VMNFX	Vanguard Market Neutral	Pair Corr
0.68	VMSIX	Vanguard Multi Sector	Pair Corr
0.97	VNJUX	Vanguard New Jersey	Pair Corr
0.97	VNJTX	Vanguard New Jersey	Pair Corr
0.95	VNYTX	Vanguard New York	Pair Corr
0.98	VNYUX	Vanguard New York	Pair Corr
0.97	VPALX	Vanguard Pennsylvania	Pair Corr
0.97	VPAIX	Vanguard Pennsylvania	Pair Corr
0.7	VSCSX	Vanguard Short Term	Pair Corr
0.73	VSBIX	Vanguard Short Term	Pair Corr
0.74	VSBSX	Vanguard Short Term	Pair Corr

Moving against Vanguard Mutual Fund

0.65

VAIGX

Vanguard Advice Select

Pair Corr

Related Correlations Analysis

	USSCX	FIUIX	HCKAX	PRVAX	TEGIX	FSEAX	PREFX	JDHYX	GTMUX	JHYFX
USSCX		-0.73	0.89	0.25	0.92	0.14	0.31	0.74	0.8	0.74	USSCX
FIUIX	-0.73		-0.83	-0.28	-0.64	0.06	-0.06	-0.63	-0.59	-0.63	FIUIX
HCKAX	0.89	-0.83		0.29	0.8	0.1	0.22	0.71	0.72	0.7	HCKAX
PRVAX	0.25	-0.28	0.29		0.07	-0.14	0.18	0.28	0.31	0.27	PRVAX
TEGIX	0.92	-0.64	0.8	0.07		0.21	0.28	0.52	0.66	0.52	TEGIX
FSEAX	0.14	0.06	0.1	-0.14	0.21		0.53	0.03	-0.05	0.01	FSEAX
PREFX	0.31	-0.06	0.22	0.18	0.28	0.53		0.38	0.51	0.38	PREFX
JDHYX	0.74	-0.63	0.71	0.28	0.52	0.03	0.38		0.87	0.99	JDHYX
GTMUX	0.8	-0.59	0.72	0.31	0.66	-0.05	0.51	0.87		0.88	GTMUX
JHYFX	0.74	-0.63	0.7	0.27	0.52	0.01	0.38	0.99	0.88		JHYFX
	USSCX	FIUIX	HCKAX	PRVAX	TEGIX	FSEAX	PREFX	JDHYX	GTMUX	JHYFX

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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

JHYFX	+ 0.99	JDHYX
TEGIX	+ 0.92	USSCX
HCKAX	+ 0.89	USSCX
JHYFX	+ 0.88	GTMUX
GTMUX	+ 0.87	JDHYX
GTMUX	+ 0.8	USSCX

High negative correlations

HCKAX	- 0.83	FIUIX
FIUIX	- 0.73	USSCX
TEGIX	- 0.64	FIUIX
JHYFX	- 0.63	FIUIX
JDHYX	- 0.63	FIUIX
GTMUX	- 0.59	FIUIX

Risk-Adjusted Indicators

There is a big difference between Vanguard Mutual Fund performing well and Vanguard Ohio 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 Ohio'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
USSCX	0.98	0.10	0.06	0.17	1.21	(1.00)	2.36	(2.39)	8.94
FIUIX	0.78	(0.17)	0.00	(0.26)	0.00	0.00	1.27	(1.62)	7.35
HCKAX	0.47	0.11	0.08	0.74	0.32	(0.57)	0.92	(0.84)	6.14
PRVAX	0.07	0.01	(0.41)	(4.04)	0.00	(0.13)	0.18	(0.09)	0.63
TEGIX	1.01	0.14	0.06	(3.92)	0.98	(1.26)	1.29	(1.83)	14.07
FSEAX	0.78	0.00	(0.01)	0.07	1.09	(0.83)	1.62	(1.51)	5.38
PREFX	0.75	(0.01)	(0.06)	0.00	1.15	(0.72)	1.61	(1.81)	4.38
JDHYX	0.15	(0.01)	(0.28)	0.04	0.11	(0.22)	0.40	(0.27)	0.81
GTMUX	0.94	0.04	(0.02)	0.27	1.14	(1.01)	1.80	(1.74)	5.00
JHYFX	0.14	0.00	(0.24)	0.05	0.08	(0.27)	0.41	(0.27)	1.07

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