Tcw Global Correlations

TGGFX Fund

USD 8.24 0.02 0.24%

The current 90-days correlation between Tcw Global Bond and Financial Industries Fund is 0.35 (i.e., Weak diversification). The correlation of Tcw Global 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 Global Correlation With Market

Modest diversification

The correlation between Tcw Global Bond and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tcw Global Bond 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 Global Bond. 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 census.

Moving together with Tcw Mutual Fund

0.71	TGDIX	Tcw Relative Value	Pair Corr
0.69	TGDVX	Tcw Relative Value	Pair Corr
0.96	TGCFX	Tcw E Fixed	Pair Corr
0.96	TGCPX	Tcw Core Fixed	Pair Corr
0.9	TGFNX	Tcw E Fixed	Pair Corr
0.96	TGGBX	Tcw Global Bond	Pair Corr
0.85	TGEIX	Tcw Emerging Markets	Pair Corr
0.86	TGEPX	Tcw Funds	Pair Corr
0.69	TGINX	Tcw Emerging Markets	Pair Corr
0.96	TGLSX	Tcw Total Return	Pair Corr
0.96	TGMNX	Tcw Total Return	Pair Corr
0.96	TGLMX	Tcw Total Return	Pair Corr
0.67	TGPCX	Tcw Servative Allocation	Pair Corr
0.74	TGPNX	Tcw Servative Allocation	Pair Corr
0.9	TGREX	Tcw Global Real	Pair Corr
0.9	TGRYX	Tcw Global Real	Pair Corr
0.87	TGWIX	Tcw Emerging Markets	Pair Corr
0.86	TGWNX	Tcw Emerging Markets	Pair Corr
0.96	FGBRX	Templeton Global Bond	Pair Corr
0.94	FBNRX	Templeton Global Bond	Pair Corr
0.95	RCWBX	Capital World Bond	Pair Corr
0.95	CCWFX	Capital World Bond	Pair Corr
0.94	CCWCX	Capital World Bond	Pair Corr
0.99	RCWEX	Capital World Bond	Pair Corr
0.99	CCWEX	Capital World Bond	Pair Corr
0.95	RCWCX	Capital World Bond	Pair Corr
0.99	RCWGX	Capital World Bond	Pair Corr
0.99	RCWFX	Capital World Bond	Pair Corr

Related Correlations Analysis

	FIDAX	FNPIX	FIKBX	IAAEX	VFAIX	GCFSX	RMBKX	FTIXX
FIDAX		0.56	0.9	0.92	0.44	0.32	0.94	0.0	FIDAX
FNPIX	0.56		0.81	0.35	0.91	0.9	0.62	0.0	FNPIX
FIKBX	0.9	0.81		0.7	0.78	0.61	0.9	0.0	FIKBX
IAAEX	0.92	0.35	0.7		0.15	0.11	0.84	0.0	IAAEX
VFAIX	0.44	0.91	0.78	0.15		0.87	0.53	0.0	VFAIX
GCFSX	0.32	0.9	0.61	0.11	0.87		0.38	0.0	GCFSX
RMBKX	0.94	0.62	0.9	0.84	0.53	0.38		0.0	RMBKX
FTIXX	0.0	0.0	0.0	0.0	0.0	0.0	0.0		FTIXX
	FIDAX	FNPIX	FIKBX	IAAEX	VFAIX	GCFSX	RMBKX	FTIXX

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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

RMBKX	+ 0.94	FIDAX
IAAEX	+ 0.92	FIDAX
VFAIX	+ 0.91	FNPIX
FIKBX	+ 0.9	FIDAX
GCFSX	+ 0.9	FNPIX
RMBKX	+ 0.9	FIKBX

High negative correlations

FTIXX	- 0.0	RMBKX
FTIXX	- 0.0	GCFSX
FTIXX	- 0.0	VFAIX
FTIXX	- 0.0	IAAEX
FTIXX	- 0.0	FIKBX
FTIXX	- 0.0	FNPIX

Risk-Adjusted Indicators

There is a big difference between Tcw Mutual Fund performing well and Tcw Global 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 Global'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
FIDAX	0.81	(0.11)	0.00	(0.19)	0.00	0.00	1.26	(1.85)	7.64
FNPIX	1.02	0.05	0.08	(1.19)	1.45	(1.05)	1.92	(2.35)	6.23
FIKBX	0.71	(0.02)	0.00	(0.08)	0.00	0.00	1.22	(1.66)	4.76
IAAEX	0.66	(0.15)	0.00	(5.49)	0.00	0.00	1.10	(1.08)	9.17
VFAIX	0.67	0.05	0.06	0.01	1.01	(0.67)	1.44	(1.53)	4.21
GCFSX	0.60	0.05	0.13	(0.58)	0.78	(0.63)	1.08	(1.30)	3.58
RMBKX	1.00	(0.08)	0.00	(0.15)	0.00	0.00	1.65	(2.08)	5.86
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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