Growth Opportunities Correlations

TGVFX Fund

USD 51.72 0.02 0.04%

The current 90-days correlation between Growth Opportunities and Touchstone Small Cap is 0.09 (i.e., Significant diversification). The correlation of Growth Opportunities 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.

Growth Opportunities Correlation With Market

Good diversification

The correlation between Growth Opportunities Fund and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Growth Opportunities Fund 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 Growth Opportunities Fund. 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 census.

Moving together with Growth Mutual Fund

0.75	TVOYX	Touchstone Small Cap	Pair Corr
0.78	TEGAX	Mid Cap Growth	Pair Corr
0.65	TEGIX	Mid Cap Growth	Pair Corr
0.87	TEGYX	Mid Cap Growth	Pair Corr
0.72	SAGWX	Sentinel Small Pany	Pair Corr
0.72	SSCOX	Sentinel Small Pany	Pair Corr
0.68	TFCCX	Touchstone Large Cap	Pair Corr
0.73	SSRRX	Sentinel Small	Pair Corr
0.67	TFFCX	Touchstone Focused	Pair Corr
0.77	TFGRX	Touchstone Mid Cap	Pair Corr
0.64	TFFIX	Touchstone Focused	Pair Corr
0.64	TFFYX	Touchstone Focused	Pair Corr
0.76	SBACX	Sentinel Balanced	Pair Corr
0.72	FRACX	Touchstone Flexible	Pair Corr
0.65	TFOAX	Touchstone Focused	Pair Corr
0.73	TFSLX	Touchstone Flexible	Pair Corr
1.0	TGVCX	Growth Opportunities	Pair Corr
1.0	TGVYX	Growth Opportunities	Pair Corr
0.99	TGVVX	Growth Opportunities	Pair Corr
0.62	SCRLX	Sentinel Mon Stock	Pair Corr
0.65	SCSCX	Sentinel Mon Stock	Pair Corr
0.73	TICSX	Touchstone Small Pany	Pair Corr
0.74	SEBLX	Sentinel Balanced	Pair Corr
0.67	TIMPX	Touchstone Funds	Pair Corr
0.63	SENCX	Sentinel Mon Stock	Pair Corr
0.69	TLCIX	Touchstone Large Cap	Pair Corr

Related Correlations Analysis

	TVOYX	TEGCX	TEGAX	TEGIX	TEGYX	SAGWX	TEQCX	TEQAX	SSCOX	TFCCX
TVOYX		0.41	0.86	0.67	0.77	0.93	0.53	0.53	0.92	0.89	TVOYX
TEGCX	0.41		0.05	-0.24	-0.03	0.61	0.71	0.69	0.62	0.64	TEGCX
TEGAX	0.86	0.05		0.93	0.93	0.73	0.39	0.4	0.72	0.67	TEGAX
TEGIX	0.67	-0.24	0.93		0.89	0.45	0.21	0.22	0.44	0.37	TEGIX
TEGYX	0.77	-0.03	0.93	0.89		0.64	0.32	0.33	0.63	0.59	TEGYX
SAGWX	0.93	0.61	0.73	0.45	0.64		0.65	0.65	1.0	0.97	SAGWX
TEQCX	0.53	0.71	0.39	0.21	0.32	0.65		1.0	0.65	0.62	TEQCX
TEQAX	0.53	0.69	0.4	0.22	0.33	0.65	1.0		0.65	0.61	TEQAX
SSCOX	0.92	0.62	0.72	0.44	0.63	1.0	0.65	0.65		0.97	SSCOX
TFCCX	0.89	0.64	0.67	0.37	0.59	0.97	0.62	0.61	0.97		TFCCX
	TVOYX	TEGCX	TEGAX	TEGIX	TEGYX	SAGWX	TEQCX	TEQAX	SSCOX	TFCCX

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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

SSCOX	+ 1.0	SAGWX
TEQAX	+ 1.0	TEQCX
TFCCX	+ 0.97	SAGWX
TFCCX	+ 0.97	SSCOX
SAGWX	+ 0.93	TVOYX
TEGIX	+ 0.93	TEGAX

High negative correlations

TEGIX	- 0.24	TEGCX
TEGYX	- 0.03	TEGCX

Risk-Adjusted Indicators

There is a big difference between Growth Mutual Fund performing well and Growth Opportunities 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 Growth Opportunities' 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	0.01	(0.02)	0.10	0.88	(1.02)	1.56	(1.41)	9.38
TEGCX	0.68	(0.10)	0.00	(0.25)	0.00	0.00	1.54	(1.23)	4.42
TEGAX	1.03	0.09	0.04	0.22	1.28	(1.05)	2.17	(1.83)	7.72
TEGIX	1.00	0.13	0.07	0.31	1.21	(1.07)	2.17	(1.66)	7.71
TEGYX	1.02	0.14	0.05	3.70	1.29	(1.06)	2.19	(1.84)	7.70
SAGWX	0.85	(0.02)	(0.03)	0.04	1.29	(0.88)	1.50	(1.50)	9.74
TEQCX	0.61	(0.03)	0.00	(0.03)	0.00	0.00	1.40	(1.38)	3.95
TEQAX	0.61	(0.03)	(0.09)	(0.03)	0.85	(0.59)	1.38	(1.35)	3.98
SSCOX	0.85	(0.02)	(0.04)	0.03	1.31	(0.88)	1.53	(1.53)	9.92
TFCCX	0.55	(0.01)	(0.07)	0.03	0.74	(0.63)	1.11	(0.99)	5.58

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