Touchstone Mid Correlations

TMCTX Fund

USD 56.49 0.38 0.68%

The current 90-days correlation between Touchstone Mid Cap and Amg Gwk Smallmid is 0.79 (i.e., Poor diversification). The correlation of Touchstone Mid 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 Mid Correlation With Market

Almost no diversification

The correlation between Touchstone Mid Cap and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone Mid 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 Mid 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 child.

Moving together with Touchstone Mutual Fund

0.95	TVOYX	Touchstone Small Cap	Pair Corr
0.87	TEGAX	Mid Cap Growth	Pair Corr
0.92	TEGIX	Mid Cap Growth	Pair Corr
0.92	TEGYX	Mid Cap Growth	Pair Corr
0.86	TEQCX	Touchstone Sustainability	Pair Corr
0.86	TEQAX	Touchstone Sustainability	Pair Corr
0.94	TFCCX	Touchstone Large Cap	Pair Corr
0.85	SCSCX	Sentinel Mon Stock	Pair Corr
0.9	TIQIX	Touchstone Sustainability	Pair Corr
0.92	SWFCX	Sentinel International	Pair Corr
0.96	TLCIX	Touchstone Large Cap	Pair Corr
0.9	SICWX	Sentinel Mon Stock	Pair Corr
0.99	SIGWX	Sentinel Small Pany	Pair Corr
0.92	TOIIX	Touchstone International	Pair Corr
0.92	TSDCX	Touchstone Ultra Short	Pair Corr
0.96	TCVAX	Touchstone Mid Cap	Pair Corr
0.98	TCVIX	Touchstone Mid Cap	Pair Corr
0.91	VIMAX	Vanguard Mid Cap	Pair Corr
0.91	VIMSX	Vanguard Mid Cap	Pair Corr
0.91	VMCPX	Vanguard Mid Cap	Pair Corr
0.91	VMCIX	Vanguard Mid Cap	Pair Corr
0.88	VEXAX	Vanguard Extended Market	Pair Corr
0.88	VEMPX	Vanguard Extended Market	Pair Corr
0.88	VIEIX	Vanguard Extended Market	Pair Corr
0.86	VSEMX	Vanguard Extended Market	Pair Corr
0.88	VEXMX	Vanguard Extended Market	Pair Corr
0.94	FSMDX	Fidelity Mid Cap	Pair Corr
0.89	GAAKX	Gmo Alternative Allo	Pair Corr
0.89	GAAGX	Gmo Alternative Allo	Pair Corr
0.63	GPBFX	Gmo E Plus	Pair Corr
0.84	GPMFX	Guidepath Managed Futures	Pair Corr
0.81	PQTAX	Pimco Trends Managed	Pair Corr
0.84	PQTNX	Pimco Trends Managed	Pair Corr
0.84	PQTIX	Aa Pimco Tr	Pair Corr
0.66	WARCX	Wells Fargo Advantage	Pair Corr
0.93	VHYAX	Vanguard High Dividend	Pair Corr

Related Correlations Analysis

	VLAIX	VLAAX	EEMAX	GCEQX	MAPOX	HGHAX	BAMPX	TGCNX	MMDEX	GWGVX
VLAIX		1.0	0.8	0.67	0.86	0.67	0.69	-0.4	0.8	0.85	VLAIX
VLAAX	1.0		0.8	0.67	0.86	0.67	0.69	-0.4	0.8	0.85	VLAAX
EEMAX	0.8	0.8		0.76	0.9	0.54	0.9	-0.23	0.69	0.88	EEMAX
GCEQX	0.67	0.67	0.76		0.81	0.4	0.87	0.14	0.9	0.75	GCEQX
MAPOX	0.86	0.86	0.9	0.81		0.74	0.86	-0.37	0.8	0.97	MAPOX
HGHAX	0.67	0.67	0.54	0.4	0.74		0.48	-0.64	0.5	0.77	HGHAX
BAMPX	0.69	0.69	0.9	0.87	0.86	0.48		0.06	0.76	0.81	BAMPX
TGCNX	-0.4	-0.4	-0.23	0.14	-0.37	-0.64	0.06		-0.04	-0.46	TGCNX
MMDEX	0.8	0.8	0.69	0.9	0.8	0.5	0.76	-0.04		0.74	MMDEX
GWGVX	0.85	0.85	0.88	0.75	0.97	0.77	0.81	-0.46	0.74		GWGVX
	VLAIX	VLAAX	EEMAX	GCEQX	MAPOX	HGHAX	BAMPX	TGCNX	MMDEX	GWGVX

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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

VLAAX	+ 1.0	VLAIX
GWGVX	+ 0.97	MAPOX
MAPOX	+ 0.9	EEMAX
BAMPX	+ 0.9	EEMAX
MMDEX	+ 0.9	GCEQX
GWGVX	+ 0.88	EEMAX

High negative correlations

TGCNX	- 0.64	HGHAX
GWGVX	- 0.46	TGCNX
TGCNX	- 0.4	VLAAX
TGCNX	- 0.4	VLAIX
TGCNX	- 0.37	MAPOX
TGCNX	- 0.23	EEMAX

Risk-Adjusted Indicators

There is a big difference between Touchstone Mutual Fund performing well and Touchstone Mid 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 Mid'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
VLAIX	0.56	0.09	0.09	0.45	0.39	(0.71)	0.77	(0.93)	13.03
VLAAX	0.56	0.09	0.09	0.45	0.37	(0.71)	0.75	(0.93)	13.05
EEMAX	0.81	0.20	0.18	1.34	0.59	(1.01)	1.82	(1.28)	5.47
GCEQX	0.56	(0.04)	(0.05)	(0.01)	0.95	(0.48)	1.12	(1.57)	4.05
MAPOX	0.38	0.02	0.00	0.08	0.43	(0.40)	0.96	(0.59)	2.16
HGHAX	0.65	0.09	0.08	0.68	0.56	(0.76)	1.91	(1.03)	3.94
BAMPX	0.27	0.01	(0.07)	0.23	0.33	(0.31)	0.59	(0.66)	1.77
TGCNX	0.75	(0.11)	0.00	(7.49)	0.00	0.00	1.16	(1.93)	4.86
MMDEX	0.74	(0.02)	(0.03)	0.02	1.10	(0.68)	1.30	(1.87)	6.62
GWGVX	0.79	0.08	0.08	0.13	0.81	(0.91)	1.73	(1.44)	4.17

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