Tiaa-cref Equity Correlations

TCEPX Fund

USD 38.99 0.18 0.46%

The current 90-days correlation between Tiaa Cref Equity and Principal Lifetime Hybrid is 0.92 (i.e., Almost no diversification). The correlation of Tiaa-cref Equity 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 Equity Correlation With Market

Very poor diversification

The correlation between Tiaa Cref Equity Index and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tiaa Cref Equity Index 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 Equity Index. 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 american community survey.

Moving together with Tiaa-cref Mutual Fund

0.94	TEIHX	Tiaa Cref Equity	Pair Corr
1.0	TEQWX	Tiaa Cref Equity	Pair Corr
0.67	TFITX	Tiaa Cref Lifecycle	Pair Corr
0.68	TFIRX	Tiaa Cref Lifecycle	Pair Corr
0.68	TFIPX	Tiaa Cref Lifecycle	Pair Corr
0.67	TFIHX	Tiaa Cref Lifecycle	Pair Corr
0.91	TFTIX	Tiaa Cref Lifecycle	Pair Corr
0.91	TFTHX	Tiaa Cref Lifecycle	Pair Corr
0.99	TGIHX	Tiaa Cref Growth	Pair Corr
0.99	TGIWX	Tiaa Cref Growth	Pair Corr
0.69	THCVX	Tiaa-cref Large-cap	Pair Corr

Moving against Tiaa-cref Mutual Fund

0.42	TEDVX	Tiaa Cref Emerging	Pair Corr
0.41	TEDNX	Tiaa Cref Emerging	Pair Corr
0.41	TEDLX	Tiaa Cref Emerging	Pair Corr
0.41	TEDHX	Tiaa Cref Emerging	Pair Corr
0.41	TEDTX	Tiaa Cref Emerging	Pair Corr
0.41	TEMVX	Tiaa Cref Emerging	Pair Corr
0.4	TEDPX	Tiaa Cref Emerging	Pair Corr
0.4	TEMHX	Tiaa Cref Emerging	Pair Corr
0.4	TEMRX	Tiaa Cref Emerging	Pair Corr
0.37	TEQKX	Tiaa Cref Emerging	Pair Corr
0.33	TEMLX	Tiaa Cref Emerging	Pair Corr
0.33	TEMSX	Tiaa Cref Emerging	Pair Corr
0.33	TEMPX	Tiaa Cref Emerging	Pair Corr
0.31	TENWX	Tiaa Cref Emerging	Pair Corr
0.31	TEQLX	Tiaa Cref Emerging	Pair Corr
0.31	TEQHX	Tiaa Cref Emerging	Pair Corr
0.69	TESHX	Tiaa-cref Short-term	Pair Corr
0.58	TGRNX	Tiaa Cref Green	Pair Corr
0.55	TGRKX	Tiaa Cref Green	Pair Corr
0.54	TGROX	Tiaa Cref Green	Pair Corr
0.54	TGRLX	Tiaa Cref Green	Pair Corr
0.54	TGRMX	Tiaa Cref Green	Pair Corr
0.31	TEQSX	Tiaa Cref Emerging	Pair Corr
0.31	TEQPX	Tiaa Cref Emerging	Pair Corr
0.58	TIDPX	Tiaa Cref Bond	Pair Corr
0.57	TIDRX	Tiaa Cref Bond	Pair Corr
0.55	TIBDX	Tiaa Cref Bond	Pair Corr
0.55	TIBHX	Tiaa Cref Bond	Pair Corr
0.54	TIBFX	Tiaa Cref Bond	Pair Corr
0.34	TIEHX	Tiaa Cref International	Pair Corr

Related Correlations Analysis

	PHTTX	DDFIX	MDBLX	SRDAX	ACDOX	LIGFX	PGBAX
PHTTX		0.9	0.42	-0.12	0.37	0.99	0.58	PHTTX
DDFIX	0.9		0.06	0.03	0.03	0.9	0.27	DDFIX
MDBLX	0.42	0.06		-0.38	0.96	0.43	0.94	MDBLX
SRDAX	-0.12	0.03	-0.38		-0.4	-0.11	-0.37	SRDAX
ACDOX	0.37	0.03	0.96	-0.4		0.39	0.95	ACDOX
LIGFX	0.99	0.9	0.43	-0.11	0.39		0.6	LIGFX
PGBAX	0.58	0.27	0.94	-0.37	0.95	0.6		PGBAX
	PHTTX	DDFIX	MDBLX	SRDAX	ACDOX	LIGFX	PGBAX

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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

LIGFX	+ 0.99	PHTTX
ACDOX	+ 0.96	MDBLX
PGBAX	+ 0.95	ACDOX
PGBAX	+ 0.94	MDBLX
DDFIX	+ 0.9	PHTTX
LIGFX	+ 0.9	DDFIX

High negative correlations

ACDOX	- 0.4	SRDAX
SRDAX	- 0.38	MDBLX
PGBAX	- 0.37	SRDAX
SRDAX	- 0.12	PHTTX
LIGFX	- 0.11	SRDAX

Risk-Adjusted Indicators

There is a big difference between Tiaa-cref Mutual Fund performing well and Tiaa-cref Equity 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 Equity'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
PHTTX	0.32	0.02	0.11	(0.01)	0.41	(0.32)	0.67	(0.58)	1.95
DDFIX	0.63	0.05	0.08	0.01	0.76	(0.69)	1.16	(1.22)	3.44
MDBLX	0.23	0.03	0.32	0.52	0.07	(0.30)	0.50	(0.37)	1.38
SRDAX	0.16	0.01	0.25	(1.64)	0.12	(0.20)	0.29	(0.37)	0.76
ACDOX	0.24	0.02	0.28	(0.44)	0.15	(0.31)	0.55	(0.43)	1.46
LIGFX	0.31	0.02	0.13	0.00	0.36	(0.33)	0.55	(0.56)	1.75
PGBAX	0.14	0.01	0.29	(0.32)	0.10	(0.18)	0.34	(0.25)	1.27

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