Touchstone Large Correlations

TFCCX Fund

USD 20.63 0.17 0.83%

The current 90-days correlation between Touchstone Large Cap and Touchstone Small Cap is 0.87 (i.e., Very poor diversification). The correlation of Touchstone Large 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 Large Correlation With Market

Very poor diversification

The correlation between Touchstone Large Cap and DJI is 0.89 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone Large 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 Large 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 main economic indicators.

Moving together with Touchstone Mutual Fund

0.96	TVOYX	Touchstone Small Cap	Pair Corr
0.96	TEGAX	Mid Cap Growth	Pair Corr
0.96	TEGIX	Mid Cap Growth	Pair Corr
0.96	TEGYX	Mid Cap Growth	Pair Corr
0.92	SAGWX	Sentinel Small Pany	Pair Corr
0.91	SSCOX	Sentinel Small Pany	Pair Corr
0.92	SSRRX	Sentinel Small	Pair Corr
0.91	TFFCX	Touchstone Focused	Pair Corr
0.96	TFGRX	Touchstone Mid Cap	Pair Corr
0.91	TFFIX	Touchstone Focused	Pair Corr
0.76	SSSGX	Sentinel Low Duration	Pair Corr
0.91	TFFYX	Touchstone Focused	Pair Corr
0.82	SBACX	Sentinel Balanced	Pair Corr
0.91	TFOAX	Touchstone Focused	Pair Corr
0.93	CFSIX	Touchstone Sands Capital	Pair Corr
0.93	TGVCX	Growth Opportunities	Pair Corr
0.93	TGVFX	Growth Opportunities	Pair Corr
0.93	TGVYX	Growth Opportunities	Pair Corr
0.93	TGVVX	Growth Opportunities	Pair Corr
0.92	SCRLX	Sentinel Mon Stock	Pair Corr
0.91	SCSCX	Sentinel Mon Stock	Pair Corr
0.64	THIYX	High Yield Fund	Pair Corr
0.63	THYAX	High Yield Fund	Pair Corr
0.65	THYYX	High Yield Fund	Pair Corr
0.92	TICSX	Touchstone Small Pany	Pair Corr
0.83	SEBLX	Sentinel Balanced	Pair Corr
0.91	SENCX	Sentinel Mon Stock	Pair Corr
0.93	CISGX	Touchstone Sands Capital	Pair Corr
1.0	TLCIX	Touchstone Large Cap	Pair Corr

Moving against Touchstone Mutual Fund

0.66	FRACX	Touchstone Flexible	Pair Corr
0.45	TEQCX	Touchstone Sustainability	Pair Corr
0.42	TEQAX	Touchstone Sustainability	Pair Corr
0.8	TIMPX	Touchstone Funds	Pair Corr
0.58	TFSLX	Touchstone Flexible	Pair Corr
0.41	TIQIX	Touchstone Sustainability	Pair Corr
0.31	SWFCX	Sentinel International	Pair Corr
0.59	FFSAX	Touchstone Flexible	Pair Corr

Related Correlations Analysis

	TVOYX	TEGCX	TEGAX	TEGIX	TEGYX	SAGWX	TEQCX	TEQAX	SSCOX
TVOYX		0.06	0.95	0.95	0.95	0.98	-0.31	-0.28	0.98	TVOYX
TEGCX	0.06		0.1	0.1	0.1	0.06	0.68	0.69	0.06	TEGCX
TEGAX	0.95	0.1		1.0	1.0	0.92	-0.39	-0.37	0.91	TEGAX
TEGIX	0.95	0.1	1.0		1.0	0.92	-0.39	-0.37	0.91	TEGIX
TEGYX	0.95	0.1	1.0	1.0		0.92	-0.39	-0.37	0.91	TEGYX
SAGWX	0.98	0.06	0.92	0.92	0.92		-0.25	-0.22	1.0	SAGWX
TEQCX	-0.31	0.68	-0.39	-0.39	-0.39	-0.25		1.0	-0.24	TEQCX
TEQAX	-0.28	0.69	-0.37	-0.37	-0.37	-0.22	1.0		-0.21	TEQAX
SSCOX	0.98	0.06	0.91	0.91	0.91	1.0	-0.24	-0.21		SSCOX
	TVOYX	TEGCX	TEGAX	TEGIX	TEGYX	SAGWX	TEQCX	TEQAX	SSCOX

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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

TEGIX	+ 1.0	TEGAX
TEGYX	+ 1.0	TEGAX
TEGYX	+ 1.0	TEGIX
SSCOX	+ 1.0	SAGWX
TEQAX	+ 1.0	TEQCX
SAGWX	+ 0.98	TVOYX

High negative correlations

TEQCX	- 0.39	TEGYX
TEQCX	- 0.39	TEGIX
TEQCX	- 0.39	TEGAX
TEQAX	- 0.37	TEGYX
TEQAX	- 0.37	TEGIX
TEQAX	- 0.37	TEGAX

Risk-Adjusted Indicators

There is a big difference between Touchstone Mutual Fund performing well and Touchstone Large 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 Large'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
TVOYX	0.81	0.00	0.05	0.12	0.65	(1.00)	1.71	(1.42)	6.73
TEGCX	0.68	(0.06)	(0.11)	0.00	0.95	(0.69)	1.58	(1.67)	4.99
TEGAX	0.82	0.12	0.15	0.22	0.62	(0.96)	1.98	(1.17)	4.78
TEGIX	0.81	0.12	0.15	0.22	0.62	(0.96)	1.99	(1.18)	4.78
TEGYX	0.81	0.12	0.15	0.22	0.62	(0.96)	2.00	(1.18)	4.77
SAGWX	0.76	(0.02)	0.01	0.11	0.82	(0.88)	1.65	(1.28)	7.02
TEQCX	0.69	(0.11)	0.00	(0.07)	0.00	0.00	1.45	(1.53)	4.09
TEQAX	0.70	(0.11)	0.00	(0.07)	0.00	0.00	1.46	(1.54)	4.13
SSCOX	0.74	(0.02)	0.01	0.10	0.83	(0.86)	1.69	(1.41)	6.85

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