Mid Cap Correlations

TEGIX Fund

USD 46.54 0.86 1.81%

The current 90-days correlation between Mid Cap Growth and Goldman Sachs Smallmid is -0.19 (i.e., Good 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 -0.08 (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 gross domestic product.

Moving together with Mid Mutual Fund

0.74	TEGCX	Touchstone Sands Capital	Pair Corr
0.91	TEGAX	Mid Cap Growth	Pair Corr
0.84	TEGYX	Mid Cap Growth	Pair Corr
0.81	TEQCX	Touchstone Sustainability	Pair Corr
0.81	TEQAX	Touchstone Sustainability	Pair Corr
0.9	TFFCX	Touchstone Focused	Pair Corr
0.8	TFGRX	Touchstone Mid Cap	Pair Corr
0.66	TFFIX	Touchstone Focused	Pair Corr
0.9	TFFYX	Touchstone Focused	Pair Corr
0.92	SBACX	Sentinel Balanced	Pair Corr
0.86	FRACX	Touchstone Flexible	Pair Corr
0.76	TFOAX	Touchstone Focused	Pair Corr
0.8	TFSLX	Touchstone Flexible	Pair Corr
0.89	CFSIX	Touchstone Sands Capital	Pair Corr
0.9	TGVCX	Growth Opportunities	Pair Corr
0.71	TGVYX	Growth Opportunities	Pair Corr
0.65	SCRLX	Sentinel Mon Stock	Pair Corr
0.9	SCSCX	Sentinel Mon Stock	Pair Corr
0.63	THIYX	High Yield Fund	Pair Corr
0.78	THYAX	High Yield Fund	Pair Corr
0.63	THYYX	High Yield Fund	Pair Corr
0.66	TICSX	Touchstone Small Pany	Pair Corr
0.92	SEBLX	Sentinel Balanced	Pair Corr
0.79	TIMPX	Touchstone Funds	Pair Corr
0.9	SENCX	Sentinel Mon Stock	Pair Corr
0.74	SWFCX	Sentinel International	Pair Corr
0.74	SWRLX	Sentinel International	Pair Corr
0.73	CISGX	Touchstone Sands Capital	Pair Corr
0.81	TLGYX	Touchstone Large Pany	Pair Corr
0.72	FFSAX	Touchstone Flexible	Pair Corr

Related Correlations Analysis

	GTMUX	PESPX	FSLVX	PREFX	USSCX	TCMSX	HCKAX	ILLLX	RYPRX	IBALX
GTMUX		0.9	0.77	0.63	0.47	0.66	0.71	0.63	0.63	0.52	GTMUX
PESPX	0.9		0.85	0.56	0.37	0.7	0.72	0.65	0.67	0.46	PESPX
FSLVX	0.77	0.85		0.84	0.66	0.93	0.95	0.74	0.31	0.74	FSLVX
PREFX	0.63	0.56	0.84		0.88	0.92	0.94	0.84	-0.07	0.89	PREFX
USSCX	0.47	0.37	0.66	0.88		0.8	0.82	0.76	-0.27	0.98	USSCX
TCMSX	0.66	0.7	0.93	0.92	0.8		0.97	0.81	0.07	0.84	TCMSX
HCKAX	0.71	0.72	0.95	0.94	0.82	0.97		0.81	0.1	0.86	HCKAX
ILLLX	0.63	0.65	0.74	0.84	0.76	0.81	0.81		-0.02	0.76	ILLLX
RYPRX	0.63	0.67	0.31	-0.07	-0.27	0.07	0.1	-0.02		-0.17	RYPRX
IBALX	0.52	0.46	0.74	0.89	0.98	0.84	0.86	0.76	-0.17		IBALX
	GTMUX	PESPX	FSLVX	PREFX	USSCX	TCMSX	HCKAX	ILLLX	RYPRX	IBALX

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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

IBALX	+ 0.98	USSCX
HCKAX	+ 0.97	TCMSX
HCKAX	+ 0.95	FSLVX
HCKAX	+ 0.94	PREFX
TCMSX	+ 0.93	FSLVX
TCMSX	+ 0.92	PREFX

High negative correlations

RYPRX	- 0.27	USSCX
IBALX	- 0.17	RYPRX
RYPRX	- 0.07	PREFX
RYPRX	- 0.02	ILLLX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
GTMUX	0.82	(0.08)	(0.06)	0.02	0.97	(0.92)	1.79	(1.66)	5.45
PESPX	0.70	(0.07)	(0.06)	0.03	0.78	(0.82)	1.61	(1.17)	5.60
FSLVX	0.43	(0.01)	(0.03)	0.08	0.44	(0.48)	1.10	(0.74)	3.72
PREFX	0.65	0.01	0.00	0.09	0.87	(0.68)	1.12	(1.30)	4.57
USSCX	0.82	0.02	0.04	0.11	1.07	(0.82)	2.01	(1.53)	5.90
TCMSX	0.94	0.06	0.09	0.13	0.97	(1.04)	2.60	(1.45)	6.25
HCKAX	0.32	0.02	(0.03)	0.12	0.21	(0.42)	0.85	(0.46)	2.73
ILLLX	1.11	(0.01)	0.01	0.08	1.47	(1.14)	2.54	(2.33)	7.79
RYPRX	0.85	(0.11)	(0.08)	0.01	0.94	(0.96)	1.91	(1.40)	6.02
IBALX	0.30	0.01	(0.06)	0.11	0.26	(0.34)	0.75	(0.47)	2.57

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