Tiaa-cref Green Correlations

TGRLX Fund

USD 9.08 0.01 0.11%

The current 90-days correlation between Tiaa Cref Green and Vanguard Short Term Government is 0.73 (i.e., Poor diversification). The correlation of Tiaa-cref Green 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 Green Correlation With Market

Good diversification

The correlation between Tiaa Cref Green Bond and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tiaa Cref Green Bond 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 Green Bond. 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 bureau of economic analysis.

Moving together with Tiaa-cref Mutual Fund

0.86	TESHX	Tiaa Cref Short	Pair Corr
1.0	TGRKX	Tiaa Cref Green	Pair Corr
1.0	TGRNX	Tiaa Cref Green	Pair Corr
1.0	TGROX	Tiaa Cref Green	Pair Corr
1.0	TGRMX	Tiaa Cref Green	Pair Corr
0.97	TIBDX	Tiaa Cref Bond	Pair Corr
0.7	TIBEX	Tiaa Cref Intl	Pair Corr
0.97	TIBFX	Tiaa Cref Bond	Pair Corr
0.67	TIBNX	Tiaa Cref Intl	Pair Corr

Moving against Tiaa-cref Mutual Fund

0.57	TEIHX	Tiaa Cref Equity	Pair Corr
0.57	TEQWX	Tiaa Cref Equity	Pair Corr
0.54	TEWCX	Tiaa Cref Social	Pair Corr
0.51	TGIHX	Tiaa Cref Growth	Pair Corr
0.51	TGIWX	Tiaa Cref Growth	Pair Corr
0.32	TFTIX	Tiaa Cref Lifecycle	Pair Corr
0.32	TFTHX	Tiaa Cref Lifecycle	Pair Corr
0.31	TFITX	Tiaa Cref Lifecycle	Pair Corr
0.57	TIEIX	Tiaa Cref Equity	Pair Corr
0.54	TICHX	Tiaa Cref Social	Pair Corr
0.54	TICRX	Tiaa Cref Social	Pair Corr
0.51	TIGRX	Tiaa Cref Growth	Pair Corr
0.5	THCVX	Tiaa Cref Large	Pair Corr

Related Correlations Analysis

	VSBSX	BSNSX	PATFX	MSTPX	BIDPX	CFNLX	GABTX
VSBSX		0.78	0.75	0.73	0.77	0.78	-0.03	VSBSX
BSNSX	0.78		0.96	0.98	0.98	0.94	-0.03	BSNSX
PATFX	0.75	0.96		0.95	0.95	0.92	0.03	PATFX
MSTPX	0.73	0.98	0.95		0.97	0.93	-0.01	MSTPX
BIDPX	0.77	0.98	0.95	0.97		0.98	-0.15	BIDPX
CFNLX	0.78	0.94	0.92	0.93	0.98		-0.29	CFNLX
GABTX	-0.03	-0.03	0.03	-0.01	-0.15	-0.29		GABTX
	VSBSX	BSNSX	PATFX	MSTPX	BIDPX	CFNLX	GABTX

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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

MSTPX	+ 0.98	BSNSX
BIDPX	+ 0.98	BSNSX
CFNLX	+ 0.98	BIDPX
BIDPX	+ 0.97	MSTPX
PATFX	+ 0.96	BSNSX
MSTPX	+ 0.95	PATFX

High negative correlations

GABTX	- 0.29	CFNLX
GABTX	- 0.15	BIDPX
GABTX	- 0.03	BSNSX
GABTX	- 0.03	VSBSX
GABTX	- 0.01	MSTPX

Risk-Adjusted Indicators

There is a big difference between Tiaa-cref Mutual Fund performing well and Tiaa-cref Green 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 Green'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
VSBSX	0.07	0.00	(1.15)	0.22	0.06	(0.10)	0.15	(0.10)	0.62
BSNSX	0.08	0.00	(0.40)	0.05	0.10	(0.14)	0.19	(0.29)	0.88
PATFX	0.15	0.01	(0.28)	0.02	0.23	(0.24)	0.44	(0.35)	1.69
MSTPX	0.11	0.01	(0.32)	0.01	0.16	(0.17)	0.30	(0.30)	1.10
BIDPX	0.14	0.01	(0.33)	0.02	0.22	(0.18)	0.27	(0.45)	1.36
CFNLX	0.12	0.00	(0.47)	0.10	0.19	(0.15)	0.22	(0.32)	1.13
GABTX	0.52	0.03	(0.06)	0.18	0.47	(0.59)	1.10	(1.00)	3.22

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