Touchstone Flexible Correlations

Mutual Funds . USA . 
Fund . Touchstone Flexible Income
MXIIX Fund  USD 10.41  0.01  0.1%   
The current 90-days correlation between Touchstone Flexible and Qs Small Capitalization is 0.26 (i.e., Modest diversification). The correlation of Touchstone Flexible 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 Flexible Correlation With Market

Poor diversification

The correlation between Touchstone Flexible Income and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone Flexible Income and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Touchstone Flexible 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 gross domestic product.

Moving together with Touchstone Mutual Fund

  0.69TVOYX Touchstone Small CapPairCorr
  0.75SAGWX Sentinel Small PanyPairCorr
  0.63TEQCX Touchstone SustainabilityPairCorr
  0.62TEQAX Touchstone SustainabilityPairCorr
  0.65SSCOX Sentinel Small Pany Potential GrowthPairCorr
  0.63TFCCX Touchstone Large CapPairCorr
  0.65SSRRX Sentinel SmallPairCorr
  0.63TFFCX Touchstone FocusedPairCorr
  0.7TFFIX Touchstone FocusedPairCorr
  0.7TFFYX Touchstone FocusedPairCorr
  0.63SBACX Sentinel BalancedPairCorr
  0.96FRACX Touchstone FlexiblePairCorr
  0.63TFOAX Touchstone FocusedPairCorr
  0.85TFSLX Touchstone FlexiblePairCorr
  0.69SCRLX Sentinel Mon StockPairCorr
  0.7THIYX High Yield FundPairCorr
  0.71THYCX High Yield FundPairCorr
  0.72THYAX High Yield FundPairCorr
  0.76THYYX High Yield FundPairCorr
  0.66TICSX Touchstone Small PanyPairCorr
  0.79TIMPX Touchstone FundsPairCorr
  0.68TIQIX Touchstone SustainabilityPairCorr
  0.61SENCX Sentinel Mon StockPairCorr
  0.61SWFCX Sentinel InternationalPairCorr
  0.65TLCIX Touchstone Large CapPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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