Tcw Relative Correlations

TGVNX Fund

USD 32.16 0.15 0.46%

The current 90-days correlation between Tcw Relative Value and Franklin Adjustable Government is -0.15 (i.e., Good 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

Almost no diversification

The correlation between Tcw Relative Value and DJI is 0.9 (i.e., Almost no 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 board of governors.

Moving together with Tcw Mutual Fund

0.91	TGDIX	Tcw Relative Value	Pair Corr
0.91	TGCEX	Tcw Select Equities	Pair Corr
0.91	TGCNX	Tcw Select Equities	Pair Corr
1.0	TGVOX	Tcw Relative Value	Pair Corr
0.78	FLPKX	Fidelity Low Priced	Pair Corr
0.77	FLPSX	Fidelity Low Priced	Pair Corr
0.97	VMVAX	Vanguard Mid Cap	Pair Corr
0.99	JVMAX	John Hancock Disciplined	Pair Corr
0.99	JVMIX	John Hancock Disciplined	Pair Corr
0.97	VMVIX	Vanguard Mid Cap	Pair Corr
0.98	JMVZX	Jpmorgan Mid Cap	Pair Corr
0.98	JMVRX	Jpmorgan Mid Cap	Pair Corr
0.98	JMVQX	Jpmorgan Mid Cap	Pair Corr
0.98	JMVYX	Jpmorgan Mid Cap	Pair Corr
0.96	VTSAX	Vanguard Total Stock	Pair Corr
0.91	VFIAX	Vanguard 500 Index	Pair Corr
0.96	VTSMX	Vanguard Total Stock	Pair Corr
0.96	VSMPX	Vanguard Total Stock	Pair Corr

Moving against Tcw Mutual Fund

0.72	TGGBX	Tcw Global Bond	Pair Corr
0.69	TGCFX	Tcw E Fixed	Pair Corr
0.69	TGFNX	Tcw E Fixed	Pair Corr
0.69	TGLSX	Tcw Total Return	Pair Corr
0.69	TGMNX	Tcw Total Return	Pair Corr
0.69	TGLMX	Tcw Total Return	Pair Corr
0.68	TGCPX	Tcw Core Fixed	Pair Corr
0.52	TGWNX	Tcw Emerging Markets	Pair Corr
0.51	TGWIX	Tcw Emerging Markets	Pair Corr
0.5	TGREX	Tcw Global Real	Pair Corr
0.5	TGRYX	Tcw Global Real	Pair Corr

Related Correlations Analysis

	FISAX	SMAAX	CGTCX	RGVCX	FHNFX	SSAGX	ICAXX
FISAX		0.49	0.34	0.36	0.41	0.54	0.0	FISAX
SMAAX	0.49		0.84	0.84	0.87	-0.31	0.0	SMAAX
CGTCX	0.34	0.84		1.0	0.97	-0.55	0.0	CGTCX
RGVCX	0.36	0.84	1.0		0.97	-0.54	0.0	RGVCX
FHNFX	0.41	0.87	0.97	0.97		-0.5	0.0	FHNFX
SSAGX	0.54	-0.31	-0.55	-0.54	-0.5		0.0	SSAGX
ICAXX	0.0	0.0	0.0	0.0	0.0	0.0		ICAXX
	FISAX	SMAAX	CGTCX	RGVCX	FHNFX	SSAGX	ICAXX

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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

RGVCX	+ 1.0	CGTCX
FHNFX	+ 0.97	CGTCX
FHNFX	+ 0.97	RGVCX
FHNFX	+ 0.87	SMAAX
CGTCX	+ 0.84	SMAAX
RGVCX	+ 0.84	SMAAX

High negative correlations

SSAGX	- 0.55	CGTCX
SSAGX	- 0.54	RGVCX
SSAGX	- 0.5	FHNFX
SSAGX	- 0.31	SMAAX
ICAXX	- 0.0	SSAGX
ICAXX	- 0.0	FHNFX

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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FISAX	0.07	0.00	(0.70)	0.24	(0.18)	0.13	(0.13)	0.80
SMAAX	0.12	(0.02)	0.00	(0.31)	0.00	0.20	(0.30)	0.99
CGTCX	0.23	(0.03)	0.00	0.60	0.00	0.34	(0.51)	1.49
RGVCX	0.22	(0.03)	0.00	0.53	0.00	0.34	(0.42)	1.48
FHNFX	0.24	(0.04)	0.00	(0.45)	0.00	0.54	(0.54)	1.63
SSAGX	0.05	0.01	(1.06)	(0.30)	(0.23)	0.10	(0.10)	0.51
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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