Touchstone Small Correlations

Mutual Funds . USA . 
Fund . Touchstone Small Cap
TVOYX Fund  USD 36.71  0.06  0.16%   
The current 90-days correlation between Touchstone Small Cap and Old Westbury Small is 0.9 (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

Almost no diversification

The correlation between Touchstone Small Cap and DJI is 0.92 (i.e., Almost no 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 manufacturing.

Moving together with Touchstone Mutual Fund

  0.84TEGCX Touchstone Sands CapitalPairCorr
  0.82TEGAX Mid Cap GrowthPairCorr
  0.85TEGIX Mid Cap GrowthPairCorr
  0.85TEGYX Mid Cap GrowthPairCorr
  0.88SAGWX Sentinel Small PanyPairCorr
  0.84TEQCX Touchstone SustainabilityPairCorr
  0.84TEQAX Touchstone SustainabilityPairCorr
  0.96SSCOX Sentinel Small PanyPairCorr
  0.79TFCCX Touchstone Large CapPairCorr
  0.95SSRRX Sentinel SmallPairCorr
  0.94TFFCX Touchstone FocusedPairCorr
  0.85TFGRX Touchstone Mid CapPairCorr
  0.93TFFIX Touchstone FocusedPairCorr
  0.93TFFYX Touchstone FocusedPairCorr
  0.94SBACX Sentinel BalancedPairCorr
  0.86TFOAX Touchstone FocusedPairCorr
  0.82CFSIX Touchstone Sands CapitalPairCorr
  0.82TGVCX Growth OpportunitiesPairCorr
  0.86TGVFX Growth OpportunitiesPairCorr
  0.86TGVYX Growth OpportunitiesPairCorr
  0.86TGVVX Growth OpportunitiesPairCorr
  0.93SCRLX Sentinel Mon StockPairCorr
  0.94SCSCX Sentinel Mon StockPairCorr
  0.9THIYX High Yield FundPairCorr
  0.9THYCX High Yield FundPairCorr
  0.86THYAX High Yield FundPairCorr
  0.9THYYX High Yield FundPairCorr
  0.95TICSX Touchstone Small PanyPairCorr
  0.86SEBLX Sentinel BalancedPairCorr
  0.86TIQIX Touchstone SustainabilityPairCorr
  0.86SENCX Sentinel Mon StockPairCorr
  0.81SWFCX Sentinel InternationalPairCorr
  0.81SWRLX Sentinel InternationalPairCorr
  0.82CISGX Touchstone Sands CapitalPairCorr
  0.93TLCIX 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 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.

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