Touchstone Focused Correlations

Mutual Funds . USA . 
Fund . Touchstone Focused Fund
TFOAX Fund  USD 73.01  0.27  0.37%   
The current 90-days correlation between Touchstone Focused and Fidelity Advisor Energy is 0.4 (i.e., Very weak diversification). The correlation of Touchstone Focused 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 Focused Correlation With Market

Very poor diversification

The correlation between Touchstone Focused Fund and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone Focused 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 Touchstone Focused 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 nation.

Moving together with Touchstone Mutual Fund

  0.88TVOYX Touchstone Small CapPairCorr
  0.91TEGAX Mid Cap GrowthPairCorr
  0.91TEGIX Mid Cap GrowthPairCorr
  0.93TEGYX Mid Cap GrowthPairCorr
  0.9SAGWX Sentinel Small PanyPairCorr
  0.9SSCOX Sentinel Small PanyPairCorr
  0.89SSRRX Sentinel SmallPairCorr
  1.0TFFCX Touchstone FocusedPairCorr
  0.92TFGRX Touchstone Mid CapPairCorr
  1.0TFFYX Touchstone FocusedPairCorr
  0.96SBACX Sentinel BalancedPairCorr
  0.93CFSIX Touchstone Sands CapitalPairCorr
  0.8TGVFX Growth OpportunitiesPairCorr
  0.87TGVYX Growth OpportunitiesPairCorr
  0.87TGVVX Growth OpportunitiesPairCorr
  1.0SCRLX Sentinel Mon StockPairCorr
  1.0SCSCX Sentinel Mon StockPairCorr
  0.9TICSX Touchstone Small PanyPairCorr
  0.96SEBLX Sentinel BalancedPairCorr
  0.98SENCX Sentinel Mon StockPairCorr
  0.93CISGX Touchstone Sands CapitalPairCorr
  0.85TLGYX Touchstone Large PanyPairCorr
  0.85TMAPX Touchstone Mid CapPairCorr
  0.9TMFCX Touchstone Mid CapPairCorr
  0.96SIBLX Sentinel BalancedPairCorr
  1.0SICWX Sentinel Mon StockPairCorr
  0.88SIGWX Sentinel Small PanyPairCorr

Moving against Touchstone Mutual Fund

  0.36SWFCX Sentinel InternationalPairCorr
  0.36SWRLX Sentinel InternationalPairCorr
  0.37SIIEX Sentinel InternationalPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Touchstone Mutual Fund performing well and Touchstone Focused 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 Focused'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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