Mid Cap Correlations

Mutual Funds . USA . 
Fund . Mid Cap Growth
TEGAX Fund  USD 39.19  0.26  0.66%   
The current 90-days correlation between Mid Cap Growth and Touchstone Sustainability And is 0.08 (i.e., Significant diversification). The correlation of Mid Cap 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.

Mid Cap Correlation With Market

Good diversification

The correlation between Mid Cap Growth and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap Growth 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 Mid Cap Growth. 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 Mid Mutual Fund

  0.87TVOYX Touchstone Small CapPairCorr
  0.76TEGCX Touchstone Sands CapitalPairCorr
  0.94TEGIX Mid Cap GrowthPairCorr
  0.94TEGYX Mid Cap GrowthPairCorr
  0.94SAGWX Sentinel Small PanyPairCorr
  0.94SSCOX Sentinel Small PanyPairCorr
  0.75TFCCX Touchstone Large CapPairCorr
  0.94SSRRX Sentinel SmallPairCorr
  0.89TFFCX Touchstone FocusedPairCorr
  1.0TFGRX Touchstone Mid CapPairCorr
  0.91TFFIX Touchstone FocusedPairCorr
  0.89TFFYX Touchstone FocusedPairCorr
  0.87SBACX Sentinel BalancedPairCorr
  0.91TFOAX Touchstone FocusedPairCorr
  0.99CFSIX Touchstone Sands CapitalPairCorr
  0.93TGVCX Growth OpportunitiesPairCorr
  0.93TGVFX Growth OpportunitiesPairCorr
  0.93TGVYX Growth OpportunitiesPairCorr
  0.93TGVVX Growth OpportunitiesPairCorr
  0.88SCRLX Sentinel Mon StockPairCorr
  0.88SCSCX Sentinel Mon StockPairCorr
  0.77THIYX High Yield FundPairCorr
  0.79THYCX High Yield FundPairCorr
  0.75THYAX High Yield FundPairCorr
  0.77THYYX High Yield FundPairCorr
  0.94TICSX Touchstone Small PanyPairCorr
  0.89SEBLX Sentinel BalancedPairCorr
  0.88SENCX Sentinel Mon StockPairCorr
  0.99CISGX Touchstone Sands CapitalPairCorr
  0.75TLCIX Touchstone Large CapPairCorr

Moving against Mid Mutual Fund

  0.45SSSGX Sentinel Low DurationPairCorr
  0.53TIMPX Touchstone FundsPairCorr

Related Correlations Analysis

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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   
TOECX
+ 0.97
TGVFX
BIGIX
+ 0.93
TEQAX
TOECX
+ 0.83
BIGIX
BIGIX
+ 0.8
TGVFX
TOECX
+ 0.63
TEQAX
TGVFX
+ 0.6
TEQAX
  
High negative correlations   
TOECX
- 0.4
PMBIX
PMBIX
- 0.36
TGVFX
BIGIX
- 0.15
PMBIX

Risk-Adjusted Indicators

There is a big difference between Mid Mutual Fund performing well and Mid Cap 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 Mid Cap'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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