Touchstone Flexible Correlations

FRACX Fund

USD 10.34 0.02 0.19%

The current 90-days correlation between Touchstone Flexible and Pioneer Diversified High is 0.06 (i.e., Significant diversification). The correlation of Touchstone Flexible 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.

Touchstone Flexible Correlation With Market

Very good diversification

The correlation between Touchstone Flexible Income and DJI is -0.29 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone Flexible Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Touchstone Flexible Income. 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 main economic indicators.

Moving together with Touchstone Mutual Fund

0.81	TFCCX	Touchstone Large Cap	Pair Corr
0.61	SSRRX	Sentinel Small	Pair Corr
0.96	SSSGX	Sentinel Low Duration	Pair Corr
0.73	SBACX	Sentinel Balanced	Pair Corr
0.99	TFSLX	Touchstone Flexible	Pair Corr
0.96	THIYX	High Yield Fund	Pair Corr
0.95	THYAX	High Yield Fund	Pair Corr
0.61	TICSX	Touchstone Small Pany	Pair Corr
0.76	SEBLX	Sentinel Balanced	Pair Corr
0.98	TIMPX	Touchstone Funds	Pair Corr
0.82	TLCIX	Touchstone Large Cap	Pair Corr
0.82	TLCYX	Touchstone Large Cap	Pair Corr

Moving against Touchstone Mutual Fund

0.37	CFSIX	Touchstone Sands Capital	Pair Corr
0.36	CISGX	Touchstone Sands Capital	Pair Corr
0.42	TLGYX	Touchstone Large Pany	Pair Corr

Related Correlations Analysis

	XHNWX	PDNIX	SCAAX	PGFCX	HUDEX	JDJRX	ADX
XHNWX		0.98	0.89	0.97	0.28	-0.78	-0.02	XHNWX
PDNIX	0.98		0.86	0.97	0.18	-0.86	-0.13	PDNIX
SCAAX	0.89	0.86		0.91	0.55	-0.57	0.31	SCAAX
PGFCX	0.97	0.97	0.91		0.33	-0.78	0.03	PGFCX
HUDEX	0.28	0.18	0.55	0.33		0.15	0.76	HUDEX
JDJRX	-0.78	-0.86	-0.57	-0.78	0.15		0.52	JDJRX
ADX	-0.02	-0.13	0.31	0.03	0.76	0.52		ADX
	XHNWX	PDNIX	SCAAX	PGFCX	HUDEX	JDJRX	ADX

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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

PDNIX	+ 0.98	XHNWX
PGFCX	+ 0.97	XHNWX
PGFCX	+ 0.97	PDNIX
PGFCX	+ 0.91	SCAAX
SCAAX	+ 0.89	XHNWX
SCAAX	+ 0.86	PDNIX

High negative correlations

JDJRX	- 0.86	PDNIX
JDJRX	- 0.78	PGFCX
JDJRX	- 0.78	XHNWX
JDJRX	- 0.57	SCAAX
ADX	- 0.13	PDNIX
ADX	- 0.02	XHNWX

Risk-Adjusted Indicators

There is a big difference between Touchstone Mutual Fund performing well and Touchstone Flexible 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 Touchstone Flexible'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
XHNWX	0.15	0.03	(0.15)	0.39	0.16	(0.18)	0.32	(0.62)	1.10
PDNIX	0.14	0.06	(0.21)	0.83	0.00	(0.20)	0.32	(0.21)	1.25
SCAAX	0.35	0.01	(0.10)	0.13	0.41	(0.39)	0.79	(0.80)	2.44
PGFCX	0.27	0.08	(0.11)	(1.19)	0.09	(0.34)	0.59	(0.39)	1.67
HUDEX	0.70	(0.03)	(0.02)	0.08	1.09	(0.69)	1.28	(1.83)	4.80
JDJRX	0.50	(0.18)	0.00	(0.21)	0.00	0.00	0.90	(1.34)	4.40
ADX	0.78	(0.07)	(0.07)	0.04	1.08	(0.82)	1.49	(2.20)	4.94

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