Tiaa-cref Small/mid-cap Correlations

Mutual Funds . USA . 
Fund . Tiaa Cref Smallmid Cap Equity
TSMUX Fund  USD 14.95  0.23  1.56%   
The current 90-days correlation between Tiaa-cref Small/mid-cap and Allianzgi Convertible Income is 0.57 (i.e., Very weak diversification). The correlation of Tiaa-cref Small/mid-cap 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.

Tiaa-cref Small/mid-cap Correlation With Market

Average diversification

The correlation between Tiaa Cref Smallmid Cap Equity and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tiaa Cref Smallmid Cap Equity 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 Tiaa Cref Smallmid Cap Equity. 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 employment.

Moving together with Tiaa-cref Mutual Fund

  0.85TEDNX Tiaa Cref EmergingPairCorr
  0.85TEDLX Tiaa Cref EmergingPairCorr
  0.85TEDHX Tiaa Cref EmergingPairCorr
  0.63TEDTX Tiaa Cref EmergingPairCorr
  0.63TEDPX Tiaa Cref EmergingPairCorr
  0.68TFIPX Tiaa Cref LifecyclePairCorr
  0.75TFTIX Tiaa Cref LifecyclePairCorr
  0.75TFTHX Tiaa Cref LifecyclePairCorr
  0.89TGIWX Tiaa Cref GrowthPairCorr
  0.67TIBNX Tiaa Cref IntlPairCorr
  0.66TIBLX Tiaa Cref IntlPairCorr
  0.71TIBUX Tiaa Cref InternationalPairCorr
  0.63TIBVX Tiaa Cref IntlPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Tiaa-cref Mutual Fund performing well and Tiaa-cref Small/mid-cap 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 Tiaa-cref Small/mid-cap'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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