Tcw Select Correlations

TGCNX Fund

USD 26.19 0.25 0.96%

The current 90-days correlation between Tcw Select Equities and Value Line Asset is 0.47 (i.e., Very weak diversification). The correlation of Tcw Select 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.

Tcw Select Correlation With Market

Poor diversification

The correlation between Tcw Select Equities and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tcw Select Equities 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 Tcw Select Equities. 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 state.

Moving together with Tcw Mutual Fund

0.77	TGDIX	Tcw Relative Value	Pair Corr
0.78	TGDVX	Tcw Relative Value	Pair Corr
1.0	TGCEX	Tcw Select Equities	Pair Corr
0.73	TGCFX	Tcw E Fixed	Pair Corr
0.73	TGCPX	Tcw Core Fixed	Pair Corr
0.73	TGFNX	Tcw E Fixed	Pair Corr
0.75	TGGBX	Tcw Global Bond	Pair Corr
0.77	TGEIX	Tcw Emerging Markets	Pair Corr
0.75	TGEPX	Tcw Funds	Pair Corr
0.7	TGGFX	Tcw Global Bond	Pair Corr
0.77	TGINX	Tcw Emerging Markets	Pair Corr
0.77	TGLSX	Tcw Total Return	Pair Corr
0.74	TGMNX	Tcw Total Return	Pair Corr
0.74	TGLMX	Tcw Total Return	Pair Corr
0.83	TGPCX	Tcw Servative Allocation	Pair Corr
0.83	TGPNX	Tcw Servative Allocation	Pair Corr
0.75	TGWIX	Tcw Emerging Markets	Pair Corr
0.76	TGWNX	Tcw Emerging Markets	Pair Corr
0.89	FAFGX	American Funds	Pair Corr
0.89	FFAFX	American Funds	Pair Corr
0.9	GFACX	Growth Fund	Pair Corr
0.8	GFAFX	Growth Fund	Pair Corr
0.8	AGTHX	Growth Fund	Pair Corr
0.89	CGFFX	Growth Fund	Pair Corr
0.9	CGFCX	Growth Fund	Pair Corr
0.8	CGFAX	Growth Fund	Pair Corr
0.8	CGFEX	Growth Fund	Pair Corr
0.9	RGAEX	Growth Fund	Pair Corr
0.88	MGHRX	Morgan Stanley Insti	Pair Corr
0.87	MBIRX	Morgan Stanley Insight	Pair Corr
0.88	MGRPX	Growth Portfolio Class	Pair Corr
0.87	MCRTX	Morgan Stanley Multi	Pair Corr
0.81	ONERX	One Rock Fund	Pair Corr

Related Correlations Analysis

	VLAAX	VLAIX	GWGVX	MMDEX	FAMEX	GCEQX	BIAHX	BAHAX	EKWAX	HIIDX
VLAAX		1.0	-0.42	-0.81	0.75	-0.8	-0.3	-0.29	-0.89	-0.72	VLAAX
VLAIX	1.0		-0.41	-0.8	0.75	-0.79	-0.3	-0.29	-0.89	-0.72	VLAIX
GWGVX	-0.42	-0.41		0.68	-0.23	0.68	0.7	0.69	0.66	0.76	GWGVX
MMDEX	-0.81	-0.8	0.68		-0.57	0.98	0.53	0.52	0.94	0.91	MMDEX
FAMEX	0.75	0.75	-0.23	-0.57		-0.49	-0.09	-0.08	-0.65	-0.38	FAMEX
GCEQX	-0.8	-0.79	0.68	0.98	-0.49		0.52	0.51	0.92	0.91	GCEQX
BIAHX	-0.3	-0.3	0.7	0.53	-0.09	0.52		1.0	0.49	0.78	BIAHX
BAHAX	-0.29	-0.29	0.69	0.52	-0.08	0.51	1.0		0.48	0.77	BAHAX
EKWAX	-0.89	-0.89	0.66	0.94	-0.65	0.92	0.49	0.48		0.87	EKWAX
HIIDX	-0.72	-0.72	0.76	0.91	-0.38	0.91	0.78	0.77	0.87		HIIDX
	VLAAX	VLAIX	GWGVX	MMDEX	FAMEX	GCEQX	BIAHX	BAHAX	EKWAX	HIIDX

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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

VLAIX	+ 1.0	VLAAX
BAHAX	+ 1.0	BIAHX
GCEQX	+ 0.98	MMDEX
EKWAX	+ 0.94	MMDEX
EKWAX	+ 0.92	GCEQX
HIIDX	+ 0.91	MMDEX

High negative correlations

EKWAX	- 0.89	VLAIX
EKWAX	- 0.89	VLAAX
MMDEX	- 0.81	VLAAX
MMDEX	- 0.8	VLAIX
GCEQX	- 0.8	VLAAX
GCEQX	- 0.79	VLAIX

Risk-Adjusted Indicators

There is a big difference between Tcw Mutual Fund performing well and Tcw Select 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 Tcw Select'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
VLAAX	0.44	(0.10)	0.00	(0.09)	0.00	0.00	0.70	(0.96)	2.99
VLAIX	0.43	(0.10)	0.00	(0.09)	0.00	0.00	0.72	(0.95)	3.00
GWGVX	0.76	(0.01)	0.01	0.07	0.75	(0.92)	1.86	(1.12)	5.89
MMDEX	0.65	0.06	0.06	0.14	0.86	(0.70)	1.36	(1.20)	5.22
FAMEX	0.61	(0.13)	0.00	(0.07)	0.00	0.00	1.07	(1.28)	3.70
GCEQX	0.52	0.03	0.03	0.10	0.58	(0.56)	1.21	(0.81)	4.55
BIAHX	0.54	0.00	(0.04)	0.06	0.67	(0.56)	1.21	(1.14)	3.45
BAHAX	0.54	(0.01)	(0.04)	0.06	0.67	(0.56)	1.17	(1.16)	3.40
EKWAX	1.50	0.60	0.27	1.37	1.58	(1.76)	3.55	(2.83)	8.59
HIIDX	0.55	0.03	0.02	0.11	0.63	(0.62)	1.22	(1.08)	4.00

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