Tiaa Cref Correlations

TEMRX Fund

USD 8.12 0.04 0.50%

The current 90-days correlation between Tiaa Cref Emerging and Tekla Healthcare Opportunities is 0.21 (i.e., Modest diversification). The correlation of Tiaa Cref 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 Correlation With Market

Modest diversification

The correlation between Tiaa Cref Emerging Markets and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tiaa Cref Emerging Markets 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 Emerging Markets. 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 metropolitan statistical area.

Moving together with Tiaa Mutual Fund

1.0	TEMLX	Tiaa Cref Emerging	Pair Corr
1.0	TEMHX	Tiaa Cref Emerging	Pair Corr
0.96	TEMVX	Tiaa Cref Emerging	Pair Corr
1.0	TEMSX	Tiaa Cref Emerging	Pair Corr
1.0	TEMPX	Tiaa Cref Emerging	Pair Corr
0.93	TENWX	Tiaa Cref Emerging	Pair Corr
0.98	TEQLX	Tiaa Cref Emerging	Pair Corr
0.98	TEQKX	Tiaa Cref Emerging	Pair Corr
0.98	TEQHX	Tiaa Cref Emerging	Pair Corr
0.98	TEQSX	Tiaa Cref Emerging	Pair Corr
0.98	TEQPX	Tiaa Cref Emerging	Pair Corr

Moving against Tiaa Mutual Fund

0.36	TEIHX	Tiaa Cref Equity	Pair Corr
0.34	TEQWX	Tiaa Cref Equity	Pair Corr
0.34	TIEIX	Tiaa Cref Equity	Pair Corr
0.33	TILRX	Tiaa Cref Large	Pair Corr
0.32	TIHHX	Tiaa Cref High	Pair Corr
0.32	TILPX	Tiaa Cref Large	Pair Corr
0.31	TIHPX	Tiaa Cref High	Pair Corr
0.31	TIHYX	Tiaa Cref High	Pair Corr

Related Correlations Analysis

	THQ	FHCCX	PHLAX	VGHCX	SBHIX	LYFAX
THQ		0.77	0.77	0.83	0.48	0.48	THQ
FHCCX	0.77		0.92	0.77	0.78	0.71	FHCCX
PHLAX	0.77	0.92		0.87	0.75	0.81	PHLAX
VGHCX	0.83	0.77	0.87		0.74	0.59	VGHCX
SBHIX	0.48	0.78	0.75	0.74		0.66	SBHIX
LYFAX	0.48	0.71	0.81	0.59	0.66		LYFAX
	THQ	FHCCX	PHLAX	VGHCX	SBHIX	LYFAX

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Risk-Adjusted Indicators

There is a big difference between Tiaa Mutual Fund performing well and Tiaa Cref 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'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
THQ	0.83	(0.21)	(0.17)	1.41	(2.17)	5.19
FHCCX	0.68	(0.14)	(0.06)	1.05	(1.51)	4.04
PHLAX	0.66	(0.15)	(0.12)	1.04	(1.38)	5.07
VGHCX	0.58	(0.17)	(0.90)	0.82	(1.29)	3.84
SBHIX	0.61	(0.13)	(0.46)	1.00	(1.27)	4.23
LYFAX	0.61	(0.14)	(0.14)	1.10	(1.62)	3.82

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