Tcw Relative Correlations

TGDIX Fund

USD 17.28 0.15 0.86%

The current 90-days correlation between Tcw Relative Value and Aqr Managed Futures is 0.51 (i.e., Very weak diversification). The correlation of Tcw Relative 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.

Tcw Relative Correlation With Market

Significant diversification

The correlation between Tcw Relative Value and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tcw Relative Value 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 Tcw Relative Value. 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 Tcw Mutual Fund

0.96	TGDVX	Tcw Relative Value	Pair Corr
0.92	TGCEX	Tcw Select Equities	Pair Corr
0.92	TGCNX	Tcw Select Equities	Pair Corr
0.62	TGHNX	Tcw High Yield	Pair Corr
0.61	TGHYX	Tcw High Yield	Pair Corr
0.91	TGVNX	Tcw Relative Value	Pair Corr
0.91	TGVOX	Tcw Relative Value	Pair Corr
0.99	VVIAX	Vanguard Value Index	Pair Corr
0.95	DOXGX	Dodge Cox Stock	Pair Corr
0.9	AFMFX	American Mutual	Pair Corr
0.95	FFMMX	American Funds American	Pair Corr
0.95	FFFMX	American Funds American	Pair Corr
0.9	AMRMX	American Mutual	Pair Corr
0.94	AMFFX	American Mutual	Pair Corr
0.94	AMFCX	American Mutual	Pair Corr
0.92	DODGX	Dodge Stock Fund	Pair Corr
0.94	VIVAX	Vanguard Value Index	Pair Corr

Moving against Tcw Mutual Fund

0.71	TGCPX	Tcw Core Fixed	Pair Corr
0.71	TGGBX	Tcw Global Bond	Pair Corr
0.7	TGFNX	Tcw E Fixed	Pair Corr
0.7	TGLSX	Tcw Total Return	Pair Corr
0.7	TGMNX	Tcw Total Return	Pair Corr
0.69	TGCFX	Tcw E Fixed	Pair Corr
0.68	TGGFX	Tcw Global Bond	Pair Corr
0.73	TGLMX	Tcw Total Return	Pair Corr
0.48	TGREX	Tcw Global Real	Pair Corr
0.48	TGRYX	Tcw Global Real	Pair Corr
0.48	TGWIX	Tcw Emerging Markets	Pair Corr
0.47	TGWNX	Tcw Emerging Markets	Pair Corr

Related Correlations Analysis

	QMHIX	MFTFX	GPMFX	FIPRX	AUNYX	SWRSX
QMHIX		0.27	0.37	0.21	0.48	0.23	QMHIX
MFTFX	0.27		0.88	0.63	-0.38	0.61	MFTFX
GPMFX	0.37	0.88		0.81	-0.28	0.8	GPMFX
FIPRX	0.21	0.63	0.81		-0.01	1.0	FIPRX
AUNYX	0.48	-0.38	-0.28	-0.01		0.05	AUNYX
SWRSX	0.23	0.61	0.8	1.0	0.05		SWRSX
	QMHIX	MFTFX	GPMFX	FIPRX	AUNYX	SWRSX

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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

SWRSX	+ 1.0	FIPRX
GPMFX	+ 0.88	MFTFX
FIPRX	+ 0.81	GPMFX
SWRSX	+ 0.8	GPMFX
FIPRX	+ 0.63	MFTFX
SWRSX	+ 0.61	MFTFX

High negative correlations

AUNYX	- 0.38	MFTFX
AUNYX	- 0.28	GPMFX
AUNYX	- 0.01	FIPRX

Risk-Adjusted Indicators

There is a big difference between Tcw Mutual Fund performing well and Tcw Relative 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 Tcw Relative'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
QMHIX	0.53	0.04	(0.11)	2.93	0.60	(0.56)	1.12	(0.99)	2.72
MFTFX	0.94	(0.13)	0.00	(0.03)	0.00	0.00	1.70	(1.89)	5.42
GPMFX	0.40	(0.04)	0.00	(16.23)	0.00	0.00	0.65	(0.88)	2.31
FIPRX	0.23	(0.03)	0.00	(0.71)	0.00	0.00	0.40	(0.51)	1.51
AUNYX	0.12	0.01	(0.52)	0.28	0.00	(0.16)	0.28	(0.18)	1.02
SWRSX	0.19	(0.03)	0.00	(1.03)	0.00	0.00	0.29	(0.49)	1.17

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