Tiaa-cref Small/mid-cap Correlations

Mutual Funds . USA . 
Fund . Tiaa Cref Smallmid Cap Equity
TSMUX Fund  USD 17.85  0.04  0.22%   
The current 90-days correlation between Tiaa-cref Small/mid-cap and Vanguard Small Cap Index is 0.18 (i.e., Average diversification). The correlation of Tiaa-cref Small/mid-cap 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 Small/mid-cap Correlation With Market

Almost no diversification

The correlation between Tiaa Cref Smallmid Cap Equity 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 Tiaa Cref Smallmid Cap Equity 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 Smallmid Cap Equity. 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 employment.

Moving together with TIAA-CREF Mutual Fund

  0.97TEIHX Tiaa Cref EquityPairCorr
  0.97TEQWX Tiaa Cref EquityPairCorr
  0.98TEWCX Tiaa Cref SocialPairCorr
  0.82TFITX Tiaa Cref LifecyclePairCorr
  0.82TFIRX Tiaa Cref LifecyclePairCorr
  0.82TFIPX Tiaa Cref LifecyclePairCorr
  0.77TFIHX Tiaa Cref LifecyclePairCorr
  0.82TFTIX Tiaa Cref LifecyclePairCorr
  0.81TFTHX Tiaa Cref LifecyclePairCorr
  0.92TGIHX Tiaa Cref GrowthPairCorr
  0.92TGIWX Tiaa Cref GrowthPairCorr
  0.91THCVX Tiaa-cref Large-capPairCorr

Moving against TIAA-CREF Mutual Fund

  0.6TGRNX Tiaa Cref GreenPairCorr
  0.6TGROX Tiaa Cref GreenPairCorr
  0.59TGRKX Tiaa Cref GreenPairCorr
  0.59TGRLX Tiaa Cref GreenPairCorr
  0.32TESHX Tiaa-cref Short-termPairCorr
  0.68TIDRX Tiaa Cref BondPairCorr
  0.67TIBDX Tiaa Cref BondPairCorr
  0.67TIBHX Tiaa Cref BondPairCorr
  0.66TIDPX Tiaa Cref BondPairCorr
  0.64TIBFX Tiaa Cref BondPairCorr
  0.6TGRMX Tiaa Cref GreenPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between TIAA-CREF Mutual Fund performing well and Tiaa-cref Small/mid-cap 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 Small/mid-cap'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.

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