Tcw Select Correlations

TGCEX Fund

USD 29.09 0.62 2.18%

The current 90-days correlation between Tcw Select Equities and Blackrock Health Sciences is 0.38 (i.e., Weak diversification). The correlation of Tcw Select 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 Select Correlation With Market

Very weak diversification

The correlation between Tcw Select Equities and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tcw Select Equities 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 Select Equities. 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 income.

Moving together with Tcw Mutual Fund

0.76	TGDIX	Tcw Relative Value	Pair Corr
0.76	TGDVX	Tcw Relative Value	Pair Corr
0.99	TGCNX	Tcw Select Equities	Pair Corr
0.92	TGVNX	Tcw Relative Value	Pair Corr
0.91	TGVOX	Tcw Relative Value	Pair Corr
0.73	FAFGX	American Funds	Pair Corr
0.73	FFAFX	American Funds	Pair Corr
0.74	GFACX	Growth Fund	Pair Corr
0.73	GFAFX	Growth Fund	Pair Corr
0.66	AGTHX	Growth Fund	Pair Corr
0.73	CGFFX	Growth Fund	Pair Corr
0.73	CGFCX	Growth Fund	Pair Corr
0.73	CGFAX	Growth Fund	Pair Corr
0.74	CGFEX	Growth Fund	Pair Corr
0.73	RGAEX	Growth Fund	Pair Corr

Moving against Tcw Mutual Fund

0.62	TGLSX	Tcw Total Return	Pair Corr
0.6	TGMNX	Tcw Total Return	Pair Corr
0.6	TGLMX	Tcw Total Return	Pair Corr
0.59	TGCFX	Tcw E Fixed	Pair Corr
0.59	TGCPX	Tcw Core Fixed	Pair Corr
0.59	TGFNX	Tcw E Fixed	Pair Corr
0.52	TGGBX	Tcw Global Bond	Pair Corr
0.52	TGEIX	Tcw Emerging Markets	Pair Corr
0.52	TGGFX	Tcw Global Bond	Pair Corr
0.52	TGINX	Tcw Emerging Markets	Pair Corr
0.51	TGEPX	Tcw Funds	Pair Corr
0.56	CBNAX	American Funds Emerging	Pair Corr
0.52	TGWIX	Tcw Emerging Markets	Pair Corr
0.52	TGWNX	Tcw Emerging Markets	Pair Corr
0.35	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.35	MLPLX	Oppenheimer Steelpath Mlp	Pair Corr
0.35	OSPPX	Oppenheimer Steelpath Mlp	Pair Corr
0.35	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.34	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	SHSAX	SWHFX	PJHRX	VGHCX	LOGSX	HGHYX	LYFAX
SHSAX		0.82	-0.15	0.16	0.78	0.82	0.89	SHSAX
SWHFX	0.82		-0.09	0.27	0.76	0.56	0.84	SWHFX
PJHRX	-0.15	-0.09		0.91	0.03	0.16	-0.01	PJHRX
VGHCX	0.16	0.27	0.91		0.35	0.39	0.36	VGHCX
LOGSX	0.78	0.76	0.03	0.35		0.59	0.73	LOGSX
HGHYX	0.82	0.56	0.16	0.39	0.59		0.85	HGHYX
LYFAX	0.89	0.84	-0.01	0.36	0.73	0.85		LYFAX
	SHSAX	SWHFX	PJHRX	VGHCX	LOGSX	HGHYX	LYFAX

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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

VGHCX	+ 0.91	PJHRX
LYFAX	+ 0.89	SHSAX
LYFAX	+ 0.85	HGHYX
LYFAX	+ 0.84	SWHFX
SWHFX	+ 0.82	SHSAX
HGHYX	+ 0.82	SHSAX

High negative correlations

PJHRX	- 0.15	SHSAX
PJHRX	- 0.09	SWHFX
LYFAX	- 0.01	PJHRX

Risk-Adjusted Indicators

There is a big difference between Tcw Mutual Fund performing well and Tcw Select 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 Select'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
SHSAX	0.64	0.06	0.10	0.08	0.69	(0.71)	1.33	(0.95)	3.73
SWHFX	0.72	(0.01)	0.00	(0.05)	0.00	0.00	1.29	(1.22)	7.88
PJHRX	1.07	(0.25)	0.00	0.52	0.00	0.00	1.79	(2.06)	14.08
VGHCX	0.77	(0.14)	0.00	0.42	0.00	0.00	1.49	(1.50)	8.17
LOGSX	0.68	0.01	0.03	(0.01)	0.92	(0.69)	1.18	(1.52)	3.69
HGHYX	0.69	(0.02)	0.00	0.11	0.00	0.00	1.41	(1.25)	4.37
LYFAX	0.61	0.01	0.07	(0.09)	0.71	(0.63)	1.22	(1.18)	3.27

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