Touchstone International Correlations

TOIIX Fund

USD 19.59 0.09 0.46%

The current 90-days correlation between Touchstone International and Nomura Real Estate is 0.02 (i.e., Significant diversification). The correlation of Touchstone International 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 International Correlation With Market

Poor diversification

The correlation between Touchstone International Equit and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone International Equit 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 International Equity. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Touchstone Mutual Fund

0.94	DOXFX	Dodge Cox International	Pair Corr
0.67	OANIX	Oakmark International	Pair Corr
0.94	DODFX	Dodge International Stock	Pair Corr
0.66	OAKIX	Oakmark International	Pair Corr
0.66	OAYIX	Oakmark International	Pair Corr
0.67	OAZIX	Oakmark International	Pair Corr
0.9	FINVX	Fidelity Series Inte	Pair Corr
0.91	VTRIX	Vanguard International	Pair Corr
0.95	RRIGX	T Rowe Price	Pair Corr
0.61	CSCO	Cisco Systems	Pair Corr
0.63	MMM	3M Company	Pair Corr
0.61	BAC	Bank of America	Pair Corr
0.61	JNJ	Johnson Johnson	Pair Corr
0.68	DD	Dupont De Nemours	Pair Corr
0.71	INTC	Intel Aggressive Push	Pair Corr
0.82	IBM	International Business	Pair Corr
0.7	AXP	American Express	Pair Corr

Moving against Touchstone Mutual Fund

0.68	BA	Boeing	Pair Corr
0.67	PG	Procter Gamble	Pair Corr
0.61	VZ	Verizon Communications	Pair Corr
0.52	HPQ	HP Inc Earnings Call Tomorrow	Pair Corr
0.39	CVX	Chevron Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	NMMRF	VREQX	TIREX	PGRUX	VRREX	RRRZX	FORFX
NMMRF		-0.03	0.1	0.14	0.12	0.04	0.01	NMMRF
VREQX	-0.03		0.87	0.88	0.91	0.98	0.08	VREQX
TIREX	0.1	0.87		0.84	0.95	0.91	0.33	TIREX
PGRUX	0.14	0.88	0.84		0.94	0.94	-0.11	PGRUX
VRREX	0.12	0.91	0.95	0.94		0.96	0.12	VRREX
RRRZX	0.04	0.98	0.91	0.94	0.96		0.05	RRRZX
FORFX	0.01	0.08	0.33	-0.11	0.12	0.05		FORFX
	NMMRF	VREQX	TIREX	PGRUX	VRREX	RRRZX	FORFX

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

RRRZX	+ 0.98	VREQX
RRRZX	+ 0.96	VRREX
VRREX	+ 0.95	TIREX
VRREX	+ 0.94	PGRUX
RRRZX	+ 0.94	PGRUX
VRREX	+ 0.91	VREQX

High negative correlations

FORFX	- 0.11	PGRUX
VREQX	- 0.03	NMMRF

Risk-Adjusted Indicators

There is a big difference between Touchstone Mutual Fund performing well and Touchstone International 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 International'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
NMMRF	0.07	0.02	0.00	2.39	0.00	0.00	0.00	0.00	2.32
VREQX	0.61	(0.01)	(0.03)	(0.01)	0.79	(0.66)	1.27	(1.27)	3.72
TIREX	0.58	0.01	(0.01)	0.03	0.77	(0.57)	1.12	(1.32)	3.98
PGRUX	0.51	(0.02)	(0.03)	(0.02)	0.70	(0.55)	1.03	(1.13)	3.44
VRREX	0.61	0.00	(0.01)	0.03	0.82	(0.63)	1.34	(1.29)	3.92
RRRZX	0.58	(0.01)	(0.03)	0.00	0.75	(0.65)	1.23	(1.15)	3.67
FORFX	0.05	0.00	0.00	0.00	0.00	0.00	0.10	0.00	0.21

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