Touchstone Mid Correlations

Mutual Funds USA . 
Fund . Touchstone Mid Cap
TMAPX Fund  USD 55.24  1.05  1.94%   
The current 90-days correlation between Touchstone Mid Cap and Nuveen All American Municipal is -0.04 (i.e., Good diversification). The correlation of Touchstone Mid 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 Mid Correlation With Market

Good diversification

The correlation between Touchstone Mid Cap and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone Mid 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 Mid 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 metropolitan statistical area.

Moving against Touchstone Mutual Fund

  0.59SSSGX Sentinel Low DurationPairCorr
  0.5TGVFX Growth OpportunitiesPairCorr
  0.47TGVCX Growth OpportunitiesPairCorr
  0.47TGVYX Growth OpportunitiesPairCorr
  0.45TFSLX Touchstone FlexiblePairCorr
  0.44TEQAX Touchstone SustainabilityPairCorr
  0.43TEQCX Touchstone SustainabilityPairCorr
  0.42TEGCX Touchstone Sands CapitalPairCorr
  0.41FRACX Touchstone FlexiblePairCorr
  0.37SBACX Sentinel BalancedPairCorr
  0.48SWFCX Sentinel InternationalPairCorr
  0.47TGVVX Growth OpportunitiesPairCorr
  0.46TIMPX Touchstone FundsPairCorr
  0.46SWRLX Sentinel InternationalPairCorr
  0.44TIQIX Touchstone SustainabilityPairCorr
  0.44FFSAX Touchstone FlexiblePairCorr
  0.39SEBLX Sentinel BalancedPairCorr
  0.38SENCX Sentinel Mon StockPairCorr
  0.37SCRLX Sentinel Mon StockPairCorr
  0.37SCSCX Sentinel Mon StockPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Touchstone Mutual Fund performing well and Touchstone Mid 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 Mid'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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