Assuming the engine is sound with good valves and rings, etc. and in good tune for the components in it I would think the biggest factors are camshaft duration and overlap. Increasing duration will have a tendency to lower the idle vacuum reading but lobe center angle will have an effect too. Keep greater duration the same but increase the lobe centers and you can help the idle vacuum because of the decrease in overlap. Put a big cam in and even though you might increase the static compression you will see a decrease in idle vacuum and a decrease in cranking compression compared to a stock engine as tested, but try widening the lobe centers with that same big duration and now you are not bleeding off so much cylinder pressure- I think you will see an increase in cranking compression but the effect on idle vacuum will be negligible. Late ignition timing for a given combination can cause low vacuum readings too, that's why I mentioned an engine in good tune.
I'm not a tech writer per se, just a hobbiest giving my observations from things I picked up over the years. And I'm not saying I'm right either, I've been wrong plenty of times, just ask my wife. As to there being a "formula" to compute an expected vacuum an engine might pull? Sounds unlikely to me, but that's JMO.