Touchstone Arbitrage Correlations

TMARX Fund

USD 9.13 0.01 0.11%

The current 90-days correlation between Touchstone Arbitrage and Touchstone Sands Capital is 0.12 (i.e., Average diversification). The correlation of Touchstone Arbitrage 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 Arbitrage Correlation With Market

Significant diversification

The correlation between Touchstone Arbitrage Fund and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone Arbitrage 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 Touchstone Arbitrage 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 metropolitan statistical area.

Moving together with Touchstone Mutual Fund

0.65	TVOYX	Touchstone Small Cap	Pair Corr
0.67	TEGAX	Mid Cap Growth	Pair Corr
0.67	TEGIX	Mid Cap Growth	Pair Corr
0.67	TEGYX	Mid Cap Growth	Pair Corr
0.62	SAGWX	Sentinel Small Pany	Pair Corr
0.62	SSCOX	Sentinel Small Pany	Pair Corr
0.68	TFCCX	Touchstone Large Cap	Pair Corr
0.9	SSRRX	Sentinel Small	Pair Corr
0.76	TFFCX	Touchstone Focused	Pair Corr
0.95	TFGRX	Touchstone Mid Cap	Pair Corr
0.98	TFFIX	Touchstone Focused	Pair Corr
0.75	SSSGX	Sentinel Low Duration	Pair Corr
0.76	TFFYX	Touchstone Focused	Pair Corr
0.77	SBACX	Sentinel Balanced	Pair Corr
0.87	FRACX	Touchstone Flexible	Pair Corr
0.76	TFOAX	Touchstone Focused	Pair Corr
0.73	TFSLX	Touchstone Flexible	Pair Corr
0.96	CFSIX	Touchstone Sands Capital	Pair Corr
0.74	TGVCX	Growth Opportunities	Pair Corr
0.97	TGVFX	Growth Opportunities	Pair Corr
0.97	TGVYX	Growth Opportunities	Pair Corr
0.97	TGVVX	Growth Opportunities	Pair Corr
0.77	SCRLX	Sentinel Mon Stock	Pair Corr
0.77	SCSCX	Sentinel Mon Stock	Pair Corr
1.0	THIYX	High Yield Fund	Pair Corr
1.0	THYCX	High Yield Fund	Pair Corr
0.72	THYAX	High Yield Fund	Pair Corr
0.74	THYYX	High Yield Fund	Pair Corr
0.9	TICSX	Touchstone Small Pany	Pair Corr
0.77	SEBLX	Sentinel Balanced	Pair Corr
0.77	SENCX	Sentinel Mon Stock	Pair Corr
0.97	SWFCX	Sentinel International	Pair Corr
0.7	SWRLX	Sentinel International	Pair Corr
0.71	CISGX	Touchstone Sands Capital	Pair Corr
0.69	TLCIX	Touchstone Large Cap	Pair Corr

Related Correlations Analysis

	TEGCX	TEGIX	TEFCX	TEGYX	TEMAX	TEMYX	SAGWX	TEQBX	TEQCX
TEGCX		0.96	0.0	0.96	0.0	0.0	0.95	0.0	0.98	TEGCX
TEGIX	0.96		0.0	1.0	0.0	0.0	0.97	0.0	0.97	TEGIX
TEFCX	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	TEFCX
TEGYX	0.96	1.0	0.0		0.0	0.0	0.97	0.0	0.97	TEGYX
TEMAX	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	TEMAX
TEMYX	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	TEMYX
SAGWX	0.95	0.97	0.0	0.97	0.0	0.0		0.0	0.95	SAGWX
TEQBX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	TEQBX
TEQCX	0.98	0.97	0.0	0.97	0.0	0.0	0.95	0.0		TEQCX
	TEGCX	TEGIX	TEFCX	TEGYX	TEMAX	TEMYX	SAGWX	TEQBX	TEQCX

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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

TEGYX	+ 1.0	TEGIX
TEQCX	+ 0.98	TEGCX
SAGWX	+ 0.97	TEGIX
TEQCX	+ 0.97	TEGIX
SAGWX	+ 0.97	TEGYX
TEQCX	+ 0.97	TEGYX

High negative correlations

TEQCX	- 0.0	TEQBX
TEQBX	- 0.0	SAGWX
TEQCX	- 0.0	TEMYX
TEQBX	- 0.0	TEMYX
SAGWX	- 0.0	TEMYX
TEQCX	- 0.0	TEMAX

Risk-Adjusted Indicators

There is a big difference between Touchstone Mutual Fund performing well and Touchstone Arbitrage 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 Arbitrage'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
TEGCX	0.63	0.12	0.08	0.37	0.38	(0.80)	1.81	(0.97)	4.19
TEGIX	0.90	0.21	0.18	0.35	0.71	(1.03)	2.69	(1.55)	5.80
TEFCX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TEGYX	0.91	0.21	0.18	0.35	0.72	(1.03)	2.69	(1.55)	5.80
TEMAX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TEMYX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SAGWX	0.82	0.06	0.06	0.19	0.78	(0.98)	2.05	(1.69)	6.36
TEQBX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
TEQCX	0.59	0.12	0.08	0.40	0.35	(0.72)	1.45	(1.00)	3.63

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