Tiaa-cref High-yield Correlations

TIYRX Fund

USD 8.94 0.01 0.11%

The current 90-days correlation between Tiaa-cref High-yield and T Rowe Price is 0.5 (i.e., Very weak diversification). The correlation of Tiaa-cref High-yield 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.

Tiaa-cref High-yield Correlation With Market

Significant diversification

The correlation between Tiaa Cref High Yield Fund and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tiaa Cref High Yield Fund 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 Tiaa Cref High Yield Fund. 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 real.

Moving together with Tiaa-cref Mutual Fund

0.75	NPSAX	Nuveen Preferred Sec	Pair Corr
0.75	NPSFX	Nuveen Preferred Sec	Pair Corr
0.75	NPSCX	Nuveen Preferred Sec	Pair Corr
0.7	NPSRX	Nuveen Preferred Sec	Pair Corr
0.72	FRKSX	Nuveen Kansas Municipal	Pair Corr
0.73	FAARX	Nuveen All American	Pair Corr
0.67	NQCCX	Nuveen Nwq Large	Pair Corr
0.78	NQCAX	Nuveen Nwq Large	Pair Corr
0.72	FAAWX	Nuveen All American	Pair Corr
0.74	FACCX	Nuveen All American	Pair Corr
0.68	NQCRX	Nuveen Nwq Large	Pair Corr
0.72	FAFPX	Nuveen Missouri Municipal	Pair Corr
0.73	FAFOX	Nuveen Kansas Municipal	Pair Corr
0.71	FAFNX	Nuveen Michigan Municipal	Pair Corr
0.76	NQGCX	Nuveen Nwq Global	Pair Corr
0.71	FAFMX	Nuveen Ohio Municipal	Pair Corr
0.73	FAFLX	Nuveen Louisiana Mun	Pair Corr
0.7	FAFKX	Nuveen Orado Municipal	Pair Corr
0.77	NQGAX	Nuveen Nwq Global	Pair Corr
0.72	FAFJX	Nuveen Limited Term	Pair Corr
0.78	NQGIX	Nuveen Nwq Global	Pair Corr
0.72	FAMAX	Nuveen Minnesota Int	Pair Corr
0.74	FAMTX	Nuveen Minnesota Int	Pair Corr
0.79	FAQIX	Nuveen Dividend Value	Pair Corr
0.77	FSFRX	Nuveen Strategic Income	Pair Corr

Related Correlations Analysis

	TROZX	EXDAX	MFIRX	REMVX	MDBYX	NADCX	TAAJX	LMUSX
TROZX		0.65	0.77	0.83	0.72	0.89	0.82	0.8	TROZX
EXDAX	0.65		0.78	0.74	0.84	0.81	0.79	0.75	EXDAX
MFIRX	0.77	0.78		0.94	0.91	0.89	0.85	0.83	MFIRX
REMVX	0.83	0.74	0.94		0.87	0.91	0.85	0.89	REMVX
MDBYX	0.72	0.84	0.91	0.87		0.92	0.91	0.8	MDBYX
NADCX	0.89	0.81	0.89	0.91	0.92		0.98	0.88	NADCX
TAAJX	0.82	0.79	0.85	0.85	0.91	0.98		0.87	TAAJX
LMUSX	0.8	0.75	0.83	0.89	0.8	0.88	0.87		LMUSX
	TROZX	EXDAX	MFIRX	REMVX	MDBYX	NADCX	TAAJX	LMUSX

Risk-Adjusted Indicators

There is a big difference between Tiaa-cref Mutual Fund performing well and Tiaa-cref High-yield 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 Tiaa-cref High-yield'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
TROZX	0.55	0.07	0.04	0.64	0.62	(0.58)	1.16	(1.04)	3.09
EXDAX	0.17	0.00	(0.14)	0.06	0.13	(0.22)	0.37	(0.36)	0.95
MFIRX	0.10	0.02	(0.14)	0.55	0.00	(0.22)	0.19	(0.19)	0.56
REMVX	0.65	0.14	0.13	0.26	0.71	(0.73)	1.38	(0.83)	4.64
MDBYX	0.15	0.03	(0.09)	0.50	0.00	(0.20)	0.35	(0.24)	0.83
NADCX	0.25	0.04	(0.01)	0.44	0.19	(0.30)	0.51	(0.50)	1.38
TAAJX	0.26	0.03	(0.02)	0.36	0.23	(0.30)	0.53	(0.52)	1.57
LMUSX	0.57	0.04	0.04	0.09	0.76	(0.53)	1.25	(1.38)	3.59

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Tiaa-cref High-yield Correlations

Tiaa-cref High-yield Correlation With Market

Significant diversification

Moving together with Tiaa-cref Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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