Touchstone Sands Correlations

Mutual Funds . USA . 
Fund . Touchstone Sands Capital
TEGCX Fund  USD 14.61  0.26  1.81%   
The current 90-days correlation between Touchstone Sands Capital and American Mutual Fund is 0.82 (i.e., Very poor diversification). The correlation of Touchstone Sands 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 Sands Correlation With Market

Good diversification

The correlation between Touchstone Sands Capital and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone Sands Capital 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 Sands Capital. 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

  0.9VEMAX Vanguard Emerging MarketsPairCorr
  0.9VEIEX Vanguard Emerging MarketsPairCorr
  0.9VEMIX Vanguard Emerging MarketsPairCorr
  0.9VEMRX Vanguard Emerging MarketsPairCorr
  0.97FWWNX American Funds NewPairCorr
  0.97FNFWX American Funds NewPairCorr
  0.97NEWFX New World FundPairCorr
  0.97NWFFX New World FundPairCorr
  0.97NEWCX New World FundPairCorr
  0.92ODVYX Oppenheimer DevelopingPairCorr
  0.67SMPIX Semiconductor UltrasectorPairCorr
  0.67SMPSX Semiconductor UltrasectorPairCorr
  0.65MLPNX Oppenheimer Steelpath MlpPairCorr
  0.65MLPLX Oppenheimer Steelpath MlpPairCorr
  0.65MLPMX Oppenheimer Steelpath MlpPairCorr
  0.84LSHUX Horizon Spin OffPairCorr
  0.84LSHEX Kinetics Spin OffPairCorr
  0.84LSHAX Horizon Spin OffPairCorr
  0.93RSNYX Victory Global NaturalPairCorr
  0.69EMO Clearbridge Energy MlpPairCorr
  0.63CAT CaterpillarPairCorr
  0.7MSFT MicrosoftPairCorr
  0.65MMM 3M CompanyPairCorr
  0.71BAC Bank of AmericaPairCorr

Moving against Touchstone Mutual Fund

  0.36VZ Verizon CommunicationsPairCorr
  0.31T ATT Inc Earnings Call This WeekPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Touchstone Mutual Fund performing well and Touchstone Sands 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 Sands' 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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