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Correlation Between TIAA CREF and Growth Fund

Analyzing existing cross correlation between TIAA CREF Large Cap Growth Fund and The Growth Fund Of America Clas. You can compare the effects of market volatilities on TIAA CREF and Growth Fund and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in TIAA CREF with a short position of Growth Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of TIAA CREF and Growth Fund.

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Diversification Opportunities for TIAA CREF and Growth Fund

TIAA CREF Large Cap Growth Fun diversification synergy
0.38
TIA
CGF

Weak diversification

The 3 months correlation between TIAA and Growth is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding TIAA CREF Large Cap Growth Fun and The Growth Fund Of America Cla in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Growth Fund and TIAA CREF is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on TIAA CREF Large Cap Growth Fund are associated (or correlated) with Growth Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Growth Fund has no effect on the direction of TIAA CREF i.e. TIAA CREF and Growth Fund go up and down completely randomly.

Pair Corralation between TIAA CREF and Growth Fund

Assuming 30 trading days horizon, TIAA CREF Large Cap Growth Fund is expected to generate 1.32 times more return on investment than Growth Fund. However, TIAA CREF is 1.32 times more volatile than The Growth Fund Of America Clas. It trades about 0.07 of its potential returns per unit of risk. The Growth Fund Of America Clas is currently generating about 0.02 per unit of risk. If you would invest  2,184  in TIAA CREF Large Cap Growth Fund on January 23, 2020 and sell it today you would earn a total of  150.00  from holding TIAA CREF Large Cap Growth Fund or generate 6.87% return on investment over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthVery Weak
Accuracy90.14%
ValuesDaily Returns

TIAA CREF Large Cap Growth Fun  vs.  The Growth Fund Of America Cla

 Performance (%) 
    
  Timeline 
TIAA CREF Large 
44

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TIAA CREF Large Cap Growth Fund are ranked lower than 4 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly weak basic indicators, TIAA CREF may actually be approaching a critical reversion point that can send shares even higher in March 2020.
Growth Fund 
11

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in The Growth Fund Of America Clas are ranked lower than 1 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly strong basic indicators, Growth Fund is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

TIAA CREF and Growth Fund Volatility Contrast

 Predicted Return Density 
    
  Returns 
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