Touchstone Small Correlations

Mutual Funds . USA . 
Fund . Touchstone Small Cap
TVOIX Fund  USD 38.24  0.11  0.29%   
The current 90-days correlation between Touchstone Small Cap and Touchstone Small Cap is 0.96 (i.e., Almost no diversification). The correlation of Touchstone Small 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 Small Correlation With Market

Very poor diversification

The correlation between Touchstone Small Cap and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone Small 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 Small 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 gross domestic product.

Moving together with Touchstone Mutual Fund

  0.7TVOYX Touchstone Small CapPairCorr
  0.91TEGCX Touchstone Sands CapitalPairCorr
  0.61TEGAX Mid Cap GrowthPairCorr
  0.97TEGIX Mid Cap GrowthPairCorr
  0.97TEGYX Mid Cap GrowthPairCorr
  0.96SAGWX Sentinel Small PanyPairCorr
  0.92TEQCX Touchstone SustainabilityPairCorr
  0.92TEQAX Touchstone SustainabilityPairCorr
  0.96SSCOX Sentinel Small PanyPairCorr
  0.92TFCCX Touchstone Large CapPairCorr
  0.96SSRRX Sentinel SmallPairCorr
  0.97TFFCX Touchstone FocusedPairCorr
  0.97TFGRX Touchstone Mid CapPairCorr
  0.96TFFIX Touchstone FocusedPairCorr
  0.88SSSGX Sentinel Low DurationPairCorr
  0.96TFFYX Touchstone FocusedPairCorr
  0.96SBACX Sentinel BalancedPairCorr
  0.79FRACX Touchstone FlexiblePairCorr
  0.96TFOAX Touchstone FocusedPairCorr
  0.82TFSLX Touchstone FlexiblePairCorr
  0.93CFSIX Touchstone Sands CapitalPairCorr
  0.93TGVCX Growth OpportunitiesPairCorr
  0.93TGVFX Growth OpportunitiesPairCorr
  0.96TGVYX Growth OpportunitiesPairCorr
  0.96TGVVX Growth OpportunitiesPairCorr
  0.96SCRLX Sentinel Mon StockPairCorr
  0.94SCSCX Sentinel Mon StockPairCorr
  0.95THIYX High Yield FundPairCorr
  0.95THYCX High Yield FundPairCorr
  0.94THYAX High Yield FundPairCorr
  0.95THYYX High Yield FundPairCorr
  0.99TICSX Touchstone Small PanyPairCorr
  0.93SEBLX Sentinel BalancedPairCorr
  0.94TIQIX Touchstone SustainabilityPairCorr
  0.94SENCX Sentinel Mon StockPairCorr
  0.91SWFCX Sentinel InternationalPairCorr
  0.91SWRLX Sentinel InternationalPairCorr
  0.95CISGX Touchstone Sands CapitalPairCorr
  0.97TLCIX Touchstone Large CapPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Touchstone Mutual Fund performing well and Touchstone Small 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 Small'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
TVOYX  0.79  0.11  0.10  0.25  0.79 
(0.95)
 2.05 
(1.39)
 6.32 
TEGCX  0.64  0.22  0.11 (2.97) 0.31 
(0.80)
 1.81 
(0.97)
 4.19 
TEGAX  0.89  0.31  0.30  0.53  0.36 
(1.08)
 2.67 
(1.24)
 5.79 
TEGIX  0.90  0.21  0.18  0.35  0.71 
(1.03)
 2.69 
(1.55)
 5.80 
TEGYX  0.91  0.21  0.18  0.35  0.72 
(1.03)
 2.69 
(1.55)
 5.80 
SAGWX  0.82  0.24  0.08 (1.03) 0.78 
(0.97)
 2.05 
(1.69)
 6.36 
TEQCX  0.59  0.23  0.12 (1.91) 0.27 
(0.73)
 1.45 
(1.00)
 3.63 
TEQAX  0.59  0.23  0.13 (1.95) 0.25 
(0.74)
 1.47 
(0.94)
 3.68 
SSCOX  0.83  0.24  0.08 (1.02) 0.74 
(1.00)
 2.14 
(1.69)
 6.17 
TFCCX  0.64  0.11 (0.04)(1.17) 0.68 
(0.69)
 1.51 
(1.31)
 3.83 

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