Touchstone Total Correlations

TCPAX Fund

USD 9.16 0.02 0.22%

The current 90-days correlation between Touchstone Total Return and Gabelli Global Financial is 0.11 (i.e., Average diversification). The correlation of Touchstone Total 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 Total Correlation With Market

Significant diversification

The correlation between Touchstone Total Return and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone Total Return 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 Total Return. 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 nation.

Moving together with Touchstone Mutual Fund

0.82	TIMPX	Touchstone Funds	Pair Corr
0.85	VBTLX	Vanguard Total Bond	Pair Corr
0.76	VBMFX	Vanguard Total Bond	Pair Corr
0.68	VBTIX	Vanguard Total Bond	Pair Corr
0.74	VTBSX	Vanguard Total Bond	Pair Corr
0.76	VTBIX	Vanguard Total Bond	Pair Corr
0.69	VTBNX	Vanguard Total Bond	Pair Corr
0.71	BFAFX	Bond Fund	Pair Corr
0.75	ABNDX	Bond Fund	Pair Corr
0.68	BFACX	Bond Fund	Pair Corr
0.71	FBOFX	American Funds	Pair Corr
0.64	TLQIX	Tiaa Cref Lifecycle	Pair Corr
0.66	SPGRX	Deutsche Multi Asset	Pair Corr
0.64	EMCIX	Ashmore Emerging Markets	Pair Corr
0.78	PRNYX	New York Tax	Pair Corr
0.62	JLGAX	Jag Large Cap	Pair Corr
0.63	PISIX	Pimco International	Pair Corr
0.74	WARRX	Wells Fargo Advantage	Pair Corr

Related Correlations Analysis

	GCFSX	BTO	PSSRX	MCBXX	FIKBX	ICFAX
GCFSX		0.37	0.69	0.0	0.77	0.83	GCFSX
BTO	0.37		0.87	0.0	0.82	0.51	BTO
PSSRX	0.69	0.87		0.0	0.97	0.66	PSSRX
MCBXX	0.0	0.0	0.0		0.0	0.0	MCBXX
FIKBX	0.77	0.82	0.97	0.0		0.78	FIKBX
ICFAX	0.83	0.51	0.66	0.0	0.78		ICFAX
	GCFSX	BTO	PSSRX	MCBXX	FIKBX	ICFAX

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

FIKBX	+ 0.97	PSSRX
PSSRX	+ 0.87	BTO
ICFAX	+ 0.83	GCFSX
FIKBX	+ 0.82	BTO
ICFAX	+ 0.78	FIKBX
FIKBX	+ 0.77	GCFSX

High negative correlations

ICFAX	- 0.0	MCBXX
FIKBX	- 0.0	MCBXX
MCBXX	- 0.0	PSSRX
MCBXX	- 0.0	BTO
MCBXX	- 0.0	GCFSX

Risk-Adjusted Indicators

There is a big difference between Touchstone Mutual Fund performing well and Touchstone Total 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 Total'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
GCFSX	0.55	0.08	0.04	0.63	0.57	(0.65)	1.39	(1.04)	3.52
BTO	0.98	(0.05)	(0.02)	0.02	1.54	(0.94)	1.91	(2.10)	7.11
PSSRX	0.72	(0.05)	(0.04)	0.02	1.01	(0.75)	1.70	(1.74)	4.86
MCBXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FIKBX	0.69	(0.02)	(0.01)	0.05	1.01	(0.72)	1.55	(1.65)	5.55
ICFAX	0.89	0.15	0.21	0.20	0.48	(1.30)	1.58	(1.16)	14.10

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