Tcw Global Correlations

TGRYX Fund

USD 11.85 0.03 0.25%

The current 90-days correlation between Tcw Global Real and Thrivent Small Cap is 0.8 (i.e., Very poor 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

Poor diversification

The correlation between Tcw Global Real and DJI is 0.61 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tcw Global Real 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 Real. 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 manufacturing.

Moving together with Tcw Mutual Fund

0.68	TGDIX	Tcw Relative Value	Pair Corr
0.67	TGDVX	Tcw Relative Value	Pair Corr
0.69	TGEIX	Tcw Emerging Markets	Pair Corr
0.69	TGEPX	Tcw Funds	Pair Corr
0.68	TGINX	Tcw Emerging Markets	Pair Corr
0.71	TGPCX	Tcw Servative Allocation	Pair Corr
0.71	TGPNX	Tcw Servative Allocation	Pair Corr
1.0	TGREX	Tcw Global Real	Pair Corr
0.81	DFGEX	Dfa Global Real	Pair Corr
0.78	VGRNX	Vanguard Global Ex	Pair Corr
0.73	DFITX	Dfa International Real	Pair Corr
0.72	VGRLX	Vanguard Global Ex	Pair Corr
0.95	PGRKX	Global Real Estate	Pair Corr
0.84	PGRUX	Global Real Estate	Pair Corr
0.79	MGLAX	Mfs Global Real	Pair Corr
0.79	MGLIX	Mfs Global Real	Pair Corr

Related Correlations Analysis

	TSCSX	TCREX	GURPX	AFDVX	PDEZX
TSCSX		0.05	0.1	0.93	-0.22	TSCSX
TCREX	0.05		0.91	0.23	0.24	TCREX
GURPX	0.1	0.91		0.25	0.35	GURPX
AFDVX	0.93	0.23	0.25		-0.22	AFDVX
PDEZX	-0.22	0.24	0.35	-0.22		PDEZX
	TSCSX	TCREX	GURPX	AFDVX	PDEZX

Click cells to compare fundamentals

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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

AFDVX	+ 0.93	TSCSX
GURPX	+ 0.91	TCREX
PDEZX	+ 0.35	GURPX
AFDVX	+ 0.25	GURPX
PDEZX	+ 0.24	TCREX
AFDVX	+ 0.23	TCREX

High negative correlations

PDEZX	- 0.22	AFDVX
PDEZX	- 0.22	TSCSX

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
TSCSX	0.84	(0.17)	0.00	(0.27)	0.00	0.00	1.38	(2.10)	4.25
TCREX	0.86	0.00	0.00	(0.08)	0.00	0.00	1.73	(2.00)	4.80
GURPX	0.81	(0.04)	0.00	(0.15)	0.00	0.00	1.51	(1.89)	3.87
AFDVX	0.79	(0.19)	0.00	2.00	0.00	0.00	1.42	(1.93)	4.58
PDEZX	1.13	0.08	0.07	0.10	1.75	(1.04)	2.22	(2.92)	8.80

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