Tiaa-cref Green Correlations

Mutual Funds . USA . 
Fund . Tiaa Cref Green Bond
TGRKX Fund  USD 9.25  0.01  0.11%   
The current 90-days correlation between Tiaa Cref Green and Tiaa Cref Emerging Markets is 0.41 (i.e., Very weak diversification). The correlation of Tiaa-cref Green 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 Green Correlation With Market

Average diversification

The correlation between Tiaa Cref Green Bond and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tiaa Cref Green Bond 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 Green Bond. 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 board of governors.

Moving together with Tiaa-cref Mutual Fund

  0.76TEDHX Tiaa Cref EmergingPairCorr
  0.77TEDVX Tiaa Cref EmergingPairCorr
  0.77TEDTX Tiaa Cref EmergingPairCorr
  0.77TEDPX Tiaa Cref EmergingPairCorr
  0.74TEIHX Tiaa Cref EquityPairCorr
  0.74TEQLX Tiaa Cref EmergingPairCorr
  0.74TEQKX Tiaa Cref EmergingPairCorr
  0.74TEQPX Tiaa Cref EmergingPairCorr
  0.79TFIPX Tiaa Cref LifecyclePairCorr
  0.93TIBDX Tiaa Cref BondPairCorr
  0.87TIBNX Tiaa Cref IntlPairCorr
  0.92TIDRX Tiaa Cref BondPairCorr
  0.68TIGRX Tiaa Cref GrowthPairCorr
  0.64TIIHX Tiaa Cref InflationPairCorr
  0.81TIIEX Tiaa Cref InternationalPairCorr
  0.66TILRX Tiaa Cref LargePairCorr
  0.79TIMIX Tiaa Cref ManagedPairCorr
  0.71TILIX Tiaa-cref Large-capPairCorr
  0.74TIQRX Tiaa Cref EquityPairCorr
  0.62TIREX Tiaa Cref RealPairCorr
  0.63TIYRX Tiaa-cref High-yieldPairCorr
  0.88TLFIX Tiaa Cref LifecyclePairCorr
  0.84TLHIX Tiaa Cref LifecyclePairCorr
  0.89TLTHX Tiaa Cref LifecyclePairCorr
  0.83TLSHX Tiaa Cref LifestylePairCorr
  0.78TLXRX Tiaa Cref LifecyclePairCorr
  0.87TLWIX Tiaa Cref LifecyclePairCorr
  0.61TRHBX Tiaa-cref Small-capPairCorr
  0.76TRIPX Tiaa Cref InternationalPairCorr
  0.64TRLIX Tiaa-cref Large-capPairCorr
  0.83TRSHX Tiaa-cref Short-termPairCorr
  0.61TRRSX Tiaa Cref RealPairCorr
  0.83TSCTX Tiaa Cref LifestylePairCorr
  0.79TSIMX Tiaa Cref LifestylePairCorr
  0.79TTFIX Tiaa Cref LifecyclePairCorr
  0.71TTRIX Tiaa Cref LifecyclePairCorr
  0.76TCIEX Tiaa Cref InternationalPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Tiaa-cref Mutual Fund performing well and Tiaa-cref Green 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 Green'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
TEDNX  0.13  0.04 (0.08)(1.73) 0.00 
(0.19)
 0.44 
(0.22)
 0.78 
TEDLX  0.13  0.04 (0.10)(16.91) 0.00 
(0.20)
 0.34 
(0.22)
 0.78 
TEDHX  0.14  0.04 (0.07) 0.54  0.00 
(0.20)
 0.33 
(0.22)
 0.78 
TEDVX  0.14  0.04 (0.05) 0.60  0.00 
(0.20)
 0.34 
(0.22)
 0.78 
TEDTX  0.14  0.04 (0.07) 0.53  0.00 
(0.19)
 0.44 
(0.22)
 0.78 
TEDPX  0.13  0.04 (0.07) 0.69  0.00 
(0.20)
 0.34 
(0.22)
 0.78 
TEIHX  0.57  0.02  0.02  0.08  0.83 
(0.54)
 1.15 
(1.21)
 3.67 
TEMLX  0.77  0.13  0.11  0.22  0.93 
(0.91)
 1.48 
(1.19)
 5.60 
TEMHX  0.77  0.13  0.11  0.22  0.96 
(0.89)
 1.51 
(1.29)
 5.60 
TEMVX  0.77  0.13  0.11  0.22  0.94 
(0.89)
 1.57 
(1.18)
 5.76 

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