Touchstone Small Correlations

Mutual Funds USA . 
Fund . Touchstone Small Cap
MXCAX Fund  USD 10.91  1.30  2.18%   
The current 90-days correlation between Touchstone Small Cap and Gmo High Yield is -0.09 (i.e., Good diversification). The correlation of Touchstone Small 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 Small Correlation With Market

Very weak diversification

The correlation between Touchstone Small Cap and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone Small Cap and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios. 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

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  0.92MKECX Blackrock FundsPairCorr
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  0.89MKILX Blackrock InternationalPairCorr
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  0.83MKNKX Blackrock New YorkPairCorr
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  0.85BRGPX Blackrock Gwth PreparedPairCorr
  0.68BRGKX Blckrck Fds IiiPairCorr
  0.82BRGAX Blckrck Fdsiii RssllPairCorr
  0.92BRIAX Blackrock RetirementPairCorr
  0.72BRHYX Blackrock Hi YldPairCorr
  0.73MKSPX Blackrock Advantage TotalPairCorr
  0.92BRICX Blackrock RetirementPairCorr
  0.75BRMIX Blackrock Midcap IndexPairCorr
  0.92MKWIX Blackrock StrategicPairCorr
  0.75BRMAX Blackrock Midcap IndexPairCorr
  0.85BRMPX Blackrock ModeratePairCorr
  0.85BRMKX Blackrock Midcap IndexPairCorr
  0.92BROKX Blackrock AdvantagePairCorr
  0.82BROIX Blackrock Glbl OpprtntsPairCorr
  0.92BROAX Blackrock Global OppPairCorr
  0.65BABDX Blackrock Gbl DividendPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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