Tiaa-cref High-yield Correlations

TIHPX Fund  USD 8.85  0.01  0.11%   
The current 90-days correlation between Tiaa-cref High-yield and Tiaa Cref Emerging Markets is 0.06 (i.e., Significant 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

Poor diversification

The correlation between Tiaa Cref High Yield Fund and DJI is 0.6 (i.e., Poor 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 american community survey.

Moving together with Tiaa-cref Mutual Fund

  0.98TEDNX Tiaa Cref EmergingPairCorr
  0.98TEDLX Tiaa Cref EmergingPairCorr
  0.98TEDHX Tiaa Cref EmergingPairCorr
  0.98TEDVX Tiaa Cref EmergingPairCorr
  0.98TEDTX Tiaa Cref EmergingPairCorr
  0.98TEDPX Tiaa Cref EmergingPairCorr
  0.96TEIHX Tiaa Cref EquityPairCorr
  0.97TEMLX Tiaa Cref EmergingPairCorr
  0.96TEMHX Tiaa Cref EmergingPairCorr
  0.96TEMVX Tiaa Cref EmergingPairCorr
  0.96TEMRX Tiaa Cref EmergingPairCorr
  0.97TEMSX Tiaa Cref EmergingPairCorr
  0.97TEMPX Tiaa Cref EmergingPairCorr
  0.97TENWX Tiaa Cref EmergingPairCorr
  0.97TEQLX Tiaa Cref EmergingPairCorr
  0.97TEQKX Tiaa Cref EmergingPairCorr
  0.97TEQHX Tiaa Cref EmergingPairCorr
  0.97TEQWX Tiaa Cref EquityPairCorr
  0.97TEQSX Tiaa Cref EmergingPairCorr
  0.97TEQPX Tiaa Cref EmergingPairCorr
  0.88TESHX Tiaa Cref ShortPairCorr
  0.98TFITX Tiaa Cref LifecyclePairCorr
  0.97TFIRX Tiaa Cref LifecyclePairCorr
  0.97TFIPX Tiaa Cref LifecyclePairCorr
  0.97TFIHX Tiaa Cref LifecyclePairCorr
  0.98TFTIX Tiaa Cref LifecyclePairCorr
  0.98TFTHX Tiaa Cref LifecyclePairCorr
  0.97TGIHX Tiaa Cref GrowthPairCorr
  0.97TGIWX Tiaa Cref GrowthPairCorr
  0.91TGRKX Tiaa Cref GreenPairCorr
  0.9TGRNX Tiaa Cref GreenPairCorr
  0.9TGROX Tiaa Cref GreenPairCorr
  0.91TGRLX Tiaa Cref GreenPairCorr
  0.9TGRMX Tiaa Cref GreenPairCorr
  0.97THCVX Tiaa Cref LargePairCorr
  0.81TIBDX Tiaa Cref BondPairCorr
  0.93TIBEX Tiaa Cref IntlPairCorr
  0.81TIBFX Tiaa Cref BondPairCorr
  0.93TIBNX Tiaa Cref IntlPairCorr
  0.92TIBLX Tiaa Cref IntlPairCorr

Related Correlations Analysis

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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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TEDNX  0.18  0.10 (0.16)(1.91) 0.00 
 0.58 
 1.45 
TEDLX  0.18  0.10 (0.17)(3.16) 0.00 
 0.48 
 1.22 
TEDHX  0.18  0.11 (0.19)(2.29) 0.00 
 0.48 
 1.34 
TEDVX  0.18  0.11 (0.16)(2.09) 0.00 
 0.59 
 1.35 
TEDTX  0.19  0.10 (0.17)(2.35) 0.00 
 0.58 
 1.35 
TEDPX  0.17  0.10 (0.18)(3.31) 0.00 
 0.47 
 1.46 
TEIHX  0.67  0.26  0.12 (2.65) 0.52 
 2.07 
 5.02 
TEMLX  0.56  0.20  0.19  0.56  0.07 
 1.57 
 4.39 
TEMHX  0.59  0.30  0.22 (7.72) 0.00 
 1.60 
 4.39 
TEMVX  0.59  0.30  0.23 (8.26) 0.00 
 1.59 
 4.26