Tiaa-cref Growth Correlations

TGIWX Fund

USD 15.55 0.13 0.84%

The current 90-days correlation between Tiaa Cref Growth and Schwab Health Care is 0.27 (i.e., Modest diversification). The correlation of Tiaa-cref Growth 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 Growth Correlation With Market

Weak diversification

The correlation between Tiaa Cref Growth Income and DJI is 0.36 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tiaa Cref Growth Income 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 Growth Income. 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 housing.

Moving together with Tiaa-cref Mutual Fund

0.98	TENWX	Tiaa Cref Emerging	Pair Corr
0.98	TEQLX	Tiaa Cref Emerging	Pair Corr
1.0	TEQWX	Tiaa Cref Equity	Pair Corr
0.99	TFIPX	Tiaa Cref Lifecycle	Pair Corr
1.0	TIEIX	Tiaa Cref Equity	Pair Corr
0.83	TIREX	Tiaa Cref Real	Pair Corr
0.95	TIYRX	Tiaa Cref High	Pair Corr
0.98	TLGRX	Tiaa Cref Lifecycle	Pair Corr
0.97	TLSHX	Tiaa Cref Lifestyle	Pair Corr
0.96	TRCPX	Tiaa Cref Large	Pair Corr
0.97	TRHBX	Tiaa Cref Small	Pair Corr
0.99	TSIMX	Tiaa Cref Lifestyle	Pair Corr
0.99	TSMUX	Tiaa-cref Small/mid-cap	Pair Corr
0.99	TTIIX	Tiaa Cref Lifecycle	Pair Corr
0.95	TCIEX	Tiaa Cref International	Pair Corr
0.95	TCIWX	Tiaa Cref International	Pair Corr
0.75	TCREX	Tiaa Cref Real	Pair Corr
0.98	VTSAX	Vanguard Total Stock	Pair Corr
0.99	VFIAX	Vanguard 500 Index	Pair Corr
0.99	VTSMX	Vanguard Total Stock	Pair Corr
0.99	VITSX	Vanguard Total Stock	Pair Corr
0.98	VSMPX	Vanguard Total Stock	Pair Corr
0.98	VSTSX	Vanguard Total Stock	Pair Corr
0.99	VFINX	Vanguard 500 Index	Pair Corr
0.98	VFFSX	Vanguard 500 Index	Pair Corr
0.99	VINIX	Vanguard Institutional	Pair Corr
0.99	VIIIX	Vanguard Institutional	Pair Corr
0.8	NHS	Neuberger Berman High	Pair Corr
0.96	ADANX	Aqr Diversified Arbitrage	Pair Corr
0.99	FNILX	Fidelity Zero Large	Pair Corr
0.97	SISLX	Shelton International	Pair Corr
0.98	RECIX	Rbc Emerging Markets	Pair Corr
0.97	BRUSX	Ultra-small Company	Pair Corr
0.97	SLWGX	Slow Capital Growth	Pair Corr
0.98	CMTFX	Columbia Global Tech	Pair Corr

Related Correlations Analysis

	SWHFX	HCPIX	PGHAX	PJHRX	FHCCX	LOGSX	HHCZX
SWHFX		0.87	0.97	0.62	0.9	0.19	0.17	SWHFX
HCPIX	0.87		0.91	0.28	0.79	-0.17	-0.26	HCPIX
PGHAX	0.97	0.91		0.55	0.88	0.06	-0.01	PGHAX
PJHRX	0.62	0.28	0.55		0.55	0.71	0.56	PJHRX
FHCCX	0.9	0.79	0.88	0.55		0.17	0.25	FHCCX
LOGSX	0.19	-0.17	0.06	0.71	0.17		0.71	LOGSX
HHCZX	0.17	-0.26	-0.01	0.56	0.25	0.71		HHCZX
	SWHFX	HCPIX	PGHAX	PJHRX	FHCCX	LOGSX	HHCZX

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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

PGHAX	+ 0.97	SWHFX
PGHAX	+ 0.91	HCPIX
FHCCX	+ 0.9	SWHFX
FHCCX	+ 0.88	PGHAX
HCPIX	+ 0.87	SWHFX
FHCCX	+ 0.79	HCPIX

High negative correlations

HHCZX	- 0.26	HCPIX
LOGSX	- 0.17	HCPIX
HHCZX	- 0.01	PGHAX

Risk-Adjusted Indicators

There is a big difference between Tiaa-cref Mutual Fund performing well and Tiaa-cref Growth 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 Growth'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
SWHFX	0.96	(0.12)	(0.14)	0.05	1.30	(0.95)	1.70	(2.42)	7.05
HCPIX	1.45	(0.24)	(0.10)	0.01	2.10	(1.39)	2.72	(4.13)	10.87
PGHAX	0.92	(0.11)	(0.15)	0.05	1.24	(0.94)	1.84	(2.26)	6.66
PJHRX	1.15	0.09	(0.11)	(0.15)	1.76	(1.07)	2.24	(2.62)	7.79
FHCCX	0.93	(0.12)	(0.11)	0.09	1.27	(0.96)	1.99	(2.56)	9.25
LOGSX	0.93	0.05	(0.18)	0.03	1.32	(0.96)	1.74	(2.00)	6.79
HHCZX	0.21	0.03	(0.58)	0.40	0.00	(0.27)	0.54	(0.37)	1.99

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