Vanguard Tax-exempt Correlations

Mutual Funds . USA . 
Fund . Vanguard Tax Exempt Bond
VTEAX Fund  USD 19.38  0.04  0.21%   
The current 90-days correlation between Vanguard Tax Exempt and Vanguard Intermediate Term Government is 0.49 (i.e., Very weak diversification). The correlation of Vanguard Tax-exempt 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 Tax-exempt Correlation With Market

Average diversification

The correlation between Vanguard Tax Exempt Bond and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vanguard Tax Exempt Bond 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 Tax Exempt Bond. 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 nation.

Moving together with Vanguard Mutual Fund

  0.74VMIAX Vanguard Materials IndexPairCorr
  0.75VMLUX Vanguard Limited TermPairCorr
  0.77VMLTX Vanguard Limited TermPairCorr
  0.71VMNVX Vanguard Global MinimumPairCorr
  0.74VMMSX Vanguard Emerging MarketsPairCorr
  0.77VMSIX Vanguard Multi SectorPairCorr
  0.77VMVAX Vanguard Mid CapPairCorr
  0.77VMVIX Vanguard Mid CapPairCorr
  0.71VMVFX Vanguard Global MinimumPairCorr
  0.76VMVLX Vanguard Mega CapPairCorr
  0.95VNJUX Vanguard New JerseyPairCorr
  0.95VNJTX Vanguard New JerseyPairCorr
  0.92VNYTX Vanguard New YorkPairCorr
  0.94VNYUX Vanguard New YorkPairCorr
  0.96VOHIX Vanguard Ohio LongPairCorr
  0.73VPADX Vanguard Pacific StockPairCorr
  0.73VPACX Vanguard Pacific StockPairCorr
  0.75VPCCX Vanguard PrimecapPairCorr
  0.93VPALX Vanguard PennsylvaniaPairCorr
  0.93VPAIX Vanguard PennsylvaniaPairCorr
  0.74VPKIX Vanguard Pacific StockPairCorr
  0.74VPMCX Vanguard PrimecapPairCorr
  0.74VPMAX Vanguard PrimecapPairCorr
  0.77NAESX Vanguard Small CapPairCorr
  0.74VQNPX Vanguard Growth AndPairCorr
  0.77VRTPX Vanguard Reit IiPairCorr
  0.71VADGX Vanguard Advice SelectPairCorr
  0.76VAGVX Vanguard Advice SelectPairCorr
  0.7VAIGX Vanguard Advice SelectPairCorr
  0.66VAIPX Vanguard Inflation-protecPairCorr
  0.77VSCIX Vanguard Small CapPairCorr
  0.77VSCGX Vanguard LifestrategyPairCorr
  0.77VSCPX Vanguard Small CapPairCorr
  0.72VSCSX Vanguard Short TermPairCorr
  0.76VSEMX Vanguard Extended MarketPairCorr
  0.77VSEQX Vanguard Strategic EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Vanguard Mutual Fund performing well and Vanguard Tax-exempt 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 Tax-exempt'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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