Touchstone Large Correlations

Mutual Funds . USA . 
Fund . Touchstone Large Pany
TLGYX Fund  USD 58.95  0.60  1.01%   
The current 90-days correlation between Touchstone Large Pany and Dimensional Retirement Income is 0.5 (i.e., Very weak diversification). The correlation of Touchstone Large 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 Large Correlation With Market

Poor diversification

The correlation between Touchstone Large Pany and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone Large Pany 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 Large Pany. 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 Touchstone Mutual Fund

  0.82TVOYX Touchstone Small CapPairCorr
  0.84SAGWX Sentinel Small PanyPairCorr
  0.86TFCCX Touchstone Large CapPairCorr
  0.98SCSCX Sentinel Mon StockPairCorr
  0.88SEBLX Sentinel BalancedPairCorr
  0.98SENCX Sentinel Mon StockPairCorr
  0.94CISGX Touchstone Sands CapitalPairCorr
  0.79SIGWX Sentinel Small PanyPairCorr
  0.74TSDCX Touchstone Ultra ShortPairCorr
  0.89TSNAX Touchstone Sands CapitalPairCorr
  1.0TCGLX Touchstone Large PanyPairCorr
  0.93FAFGX American FundsPairCorr
  0.98FFAFX American FundsPairCorr
  0.98GFACX Growth FundPairCorr
  0.98GFAFX Growth FundPairCorr
  0.98AGTHX Growth FundPairCorr
  0.98CGFFX Growth FundPairCorr
  0.98CGFCX Growth FundPairCorr
  0.98CGFAX Growth FundPairCorr
  0.98CGFEX Growth FundPairCorr
  0.98RGAEX Growth FundPairCorr
  0.63IVHIX Ivy High IncomePairCorr
  0.61IHIFX Ivy High IncomePairCorr
  0.85HFCGX Hennessy Nerstone GrowthPairCorr
  0.84WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.91TEGYX Mid Cap GrowthPairCorr

Moving against Touchstone Mutual Fund

  0.47FFSAX Touchstone FlexiblePairCorr
  0.43TOHAX Ohio Tax FreePairCorr
  0.38TOHIX Touchstone Ohio TaxPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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