Tiaa-cref Emerging Correlations

Mutual Funds . USA . 
Fund . Tiaa Cref Emerging Markets
TEDNX Fund  USD 9.05  0.01  0.11%   
The current 90-days correlation between Tiaa Cref Emerging and Calamos Dynamic Convertible is 0.3 (i.e., Weak diversification). The correlation of Tiaa-cref Emerging 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.

Tiaa-cref Emerging Correlation With Market

Significant diversification

The correlation between Tiaa Cref Emerging Markets and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tiaa Cref Emerging Markets 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 Tiaa Cref Emerging Markets. 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 Tiaa-cref Mutual Fund

  0.99FGBMX Fidelity New MarketsPairCorr
  0.99FGZMX Fidelity New MarketsPairCorr
  0.99FGWMX Fidelity New MarketsPairCorr
  0.99FGVMX Fidelity New MarketsPairCorr
  0.99FGYMX Fidelity New MarketsPairCorr
  0.99MEDIX Mfs Emerging MarketsPairCorr
  0.99MEDCX Mfs Emerging MarketsPairCorr
  0.99MEDAX Mfs Emerging MarketsPairCorr
  0.99MEDBX Mfs Emerging MarketsPairCorr
  0.99MEDEX Mfs Emerging MarketsPairCorr
  0.94PMPIX Precious Metals UltrPairCorr
  0.94PMPSX Precious Metals UltrPairCorr
  0.92FGPMX Franklin Gold AndPairCorr
  0.92FRGOX Franklin Gold PreciousPairCorr
  0.94MIDSX Midas Fund MidasPairCorr
  0.94FIJDX Gold Portfolio FidelityPairCorr
  0.8AXP American ExpressPairCorr
  0.73WMT WalmartPairCorr
  0.67DD Dupont De NemoursPairCorr
  0.77JNJ Johnson JohnsonPairCorr
  0.64XOM Exxon Mobil CorpPairCorr
  0.79BAC Bank of AmericaPairCorr
  0.72JPM JPMorgan ChasePairCorr
  0.66HPQ HP IncPairCorr

Moving against Tiaa-cref Mutual Fund

  0.71DIS Walt DisneyPairCorr
  0.68KO Coca Cola Earnings Call This WeekPairCorr
  0.65BA BoeingPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Tiaa-cref Mutual Fund performing well and Tiaa-cref Emerging 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 Tiaa-cref Emerging'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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