Touchstone Mid Correlations

TMCTX Fund  USD 54.62  0.19  0.35%   
The current 90-days correlation between Touchstone Mid Cap and Value Line Mid is 0.87 (i.e., Very poor 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 estimate.

Moving together with Touchstone Mutual Fund

  0.99TVOYX Touchstone Small CapPairCorr
  0.91TEGCX Touchstone Sands CapitalPairCorr
  0.94TEGAX Mid Cap GrowthPairCorr
  0.96TEGIX Mid Cap GrowthPairCorr
  0.96TEGYX Mid Cap GrowthPairCorr
  0.96SAGWX Sentinel Small PanyPairCorr
  0.91TEQCX Touchstone SustainabilityPairCorr
  0.92TEQAX Touchstone SustainabilityPairCorr
  0.95SSCOX Sentinel Small PanyPairCorr
  0.92TFCCX Touchstone Large CapPairCorr
  0.96SSRRX Sentinel SmallPairCorr
  0.95TFFCX Touchstone FocusedPairCorr
  0.96TFGRX Touchstone Mid CapPairCorr
  0.95TFFIX Touchstone FocusedPairCorr
  0.85SSSGX Sentinel Low DurationPairCorr
  0.95TFFYX Touchstone FocusedPairCorr
  0.95SBACX Sentinel BalancedPairCorr
  0.76FRACX Touchstone FlexiblePairCorr
  0.95TFOAX Touchstone FocusedPairCorr
  0.8TFSLX Touchstone FlexiblePairCorr
  0.92CFSIX Touchstone Sands CapitalPairCorr
  0.93TGVCX Growth OpportunitiesPairCorr
  0.93TGVFX Growth OpportunitiesPairCorr
  0.95TGVYX Growth OpportunitiesPairCorr
  0.95TGVVX Growth OpportunitiesPairCorr
  0.95SCRLX Sentinel Mon StockPairCorr
  0.93SCSCX Sentinel Mon StockPairCorr
  0.93THIYX High Yield FundPairCorr
  0.93THYCX High Yield FundPairCorr
  0.93THYAX High Yield FundPairCorr
  0.93THYYX High Yield FundPairCorr
  0.99TICSX Touchstone Small PanyPairCorr
  0.92SEBLX Sentinel BalancedPairCorr
  0.93TIQIX Touchstone SustainabilityPairCorr
  0.93SENCX Sentinel Mon StockPairCorr
  0.89SWFCX Sentinel InternationalPairCorr
  0.89SWRLX 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.