Vanguard Short-term Correlations

VWSUX Fund

USD 15.80 0.01 0.06%

The current 90-days correlation between Vanguard Short Term and Calvert Moderate Allocation is -0.06 (i.e., Good diversification). The correlation of Vanguard Short-term 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-term Correlation With Market

Good diversification

The correlation between Vanguard Short Term Tax Exempt and DJI is -0.16 (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 employment.

Moving together with Vanguard Mutual Fund

0.67	VMLUX	Vanguard Limited Term	Pair Corr
0.67	VMLTX	Vanguard Limited Term	Pair Corr
0.63	VMVAX	Vanguard Mid Cap	Pair Corr
0.63	VMVIX	Vanguard Mid Cap	Pair Corr
0.61	VMVLX	Vanguard Mega Cap	Pair Corr

Moving against Vanguard Mutual Fund

0.35

VSIGX

Vanguard Intermediate

Pair Corr

Related Correlations Analysis

	CMACX	SAMAX	FLMTX	TSMLX	JALMX	JTSQX	SMOAX
CMACX		0.79	0.94	0.97	0.96	0.9	0.76	CMACX
SAMAX	0.79		0.73	0.75	0.63	0.91	0.24	SAMAX
FLMTX	0.94	0.73		0.94	0.96	0.84	0.81	FLMTX
TSMLX	0.97	0.75	0.94		0.95	0.92	0.78	TSMLX
JALMX	0.96	0.63	0.96	0.95		0.79	0.89	JALMX
JTSQX	0.9	0.91	0.84	0.92	0.79		0.5	JTSQX
SMOAX	0.76	0.24	0.81	0.78	0.89	0.5		SMOAX
	CMACX	SAMAX	FLMTX	TSMLX	JALMX	JTSQX	SMOAX

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Risk-Adjusted Indicators

There is a big difference between Vanguard Mutual Fund performing well and Vanguard Short-term 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-term'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
CMACX	0.35	(0.03)	(0.19)	0.04	0.42	(0.36)	0.72	(0.71)	2.02
SAMAX	0.42	(0.01)	(0.09)	0.11	0.44	(0.47)	0.85	(0.83)	2.62
FLMTX	0.22	(0.01)	(0.31)	0.07	0.22	(0.24)	0.47	(0.56)	1.12
TSMLX	0.33	(0.04)	(0.22)	0.03	0.41	(0.36)	0.74	(0.66)	2.00
JALMX	0.24	(0.02)	(0.31)	0.04	0.26	(0.27)	0.48	(0.55)	1.28
JTSQX	0.50	(0.04)	(0.12)	0.05	0.62	(0.53)	1.12	(0.93)	3.11
SMOAX	0.20	(0.02)	(0.42)	0.02	0.19	(0.23)	0.34	(0.42)	1.10

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