Touchstone Mid Correlations

Mutual Funds . USA . 
Fund . Touchstone Mid Cap
TMAPX Fund  USD 55.05  0.20  0.36%   
The current 90-days correlation between Touchstone Mid Cap and Touchstone Small Cap is 0.93 (i.e., Almost no diversification). The correlation of Touchstone Mid 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 Mid Correlation With Market

Very poor diversification

The correlation between Touchstone Mid Cap and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone Mid Cap 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 Touchstone Mid Cap. 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 american community survey.

Moving together with Touchstone Mutual Fund

  0.99TVOYX Touchstone Small CapPairCorr
  0.93TEGCX Touchstone Sands CapitalPairCorr
  0.96TEGAX Mid Cap GrowthPairCorr
  0.96TEGIX Mid Cap GrowthPairCorr
  0.96TEGYX Mid Cap GrowthPairCorr
  0.99SAGWX Sentinel Small PanyPairCorr
  0.93TEQCX Touchstone SustainabilityPairCorr
  0.93TEQAX Touchstone SustainabilityPairCorr
  0.99SSCOX Sentinel Small PanyPairCorr
  0.98TFCCX Touchstone Large CapPairCorr
  0.99SSRRX Sentinel SmallPairCorr
  0.95TFFCX Touchstone FocusedPairCorr
  0.96TFGRX Touchstone Mid CapPairCorr
  0.95TFFIX Touchstone FocusedPairCorr
  0.84SSSGX Sentinel Low DurationPairCorr
  0.95TFFYX Touchstone FocusedPairCorr
  0.95SBACX Sentinel BalancedPairCorr
  0.76FRACX Touchstone FlexiblePairCorr
  0.95TFOAX Touchstone FocusedPairCorr
  0.79TFSLX Touchstone FlexiblePairCorr
  0.94CFSIX Touchstone Sands CapitalPairCorr
  0.95TGVCX Growth OpportunitiesPairCorr
  0.95TGVFX Growth OpportunitiesPairCorr
  0.95TGVYX Growth OpportunitiesPairCorr
  0.95TGVVX Growth OpportunitiesPairCorr
  0.95SCRLX Sentinel Mon StockPairCorr
  0.95SCSCX Sentinel Mon StockPairCorr
  0.93THIYX High Yield FundPairCorr
  0.93THYCX High Yield FundPairCorr
  0.94THYAX High Yield FundPairCorr
  0.93THYYX High Yield FundPairCorr
  0.99TICSX Touchstone Small PanyPairCorr
  0.94SEBLX Sentinel BalancedPairCorr
  0.93TIQIX Touchstone SustainabilityPairCorr
  0.95SENCX Sentinel Mon StockPairCorr
  0.9SWFCX Sentinel InternationalPairCorr
  0.9SWRLX Sentinel InternationalPairCorr
  0.94CISGX Touchstone Sands CapitalPairCorr
  0.98TLCIX Touchstone Large CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Touchstone Mutual Fund performing well and Touchstone Mid 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 Mid'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TVOYX  0.80  0.06  0.05  0.19  0.85 
(0.95)
 2.05 
(1.82)
 6.32 
TEGCX  0.63  0.12  0.08  0.37  0.38 
(0.80)
 1.81 
(0.97)
 4.19 
TEGAX  0.93  0.21  0.18  0.34  0.76 
(1.06)
 2.67 
(1.55)
 5.79 
TEGIX  0.90  0.21  0.18  0.35  0.71 
(1.03)
 2.69 
(1.55)
 5.80 
TEGYX  0.91  0.21  0.18  0.35  0.72 
(1.03)
 2.69 
(1.55)
 5.80 
SAGWX  0.82  0.06  0.06  0.19  0.78 
(0.98)
 2.05 
(1.69)
 6.36 
TEQCX  0.59  0.12  0.08  0.40  0.35 
(0.72)
 1.45 
(1.00)
 3.63 
TEQAX  0.59  0.13  0.09  0.40  0.31 
(0.73)
 1.47 
(0.94)
 3.68 
SSCOX  0.83  0.06  0.06  0.19  0.74 
(1.00)
 2.14 
(1.69)
 6.17 
TFCCX  0.62 (0.02)(0.06) 0.10  0.71 
(0.66)
 1.51 
(1.31)
 3.83 

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