Tiaa Cref Correlations

Mutual Funds . USA . 
Fund . Tiaa Cref High Yield Fund
TIHYX Fund  USD 8.87  0.02  0.22%   
The current 90-days correlation between Tiaa Cref High and Alliancebernstein National Municipal is 0.49 (i.e., Very weak diversification). The correlation of Tiaa Cref 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 Correlation With Market

Weak diversification

The correlation between Tiaa Cref High Yield Fund and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tiaa Cref High Yield Fund 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 High Yield Fund. 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 Tiaa Mutual Fund

  0.79TEIHX Tiaa Cref EquityPairCorr
  0.74TEQWX Tiaa Cref EquityPairCorr
  0.76TFITX Tiaa Cref LifecyclePairCorr
  0.76TFIRX Tiaa Cref LifecyclePairCorr
  0.76TFIHX Tiaa Cref LifecyclePairCorr
  0.7TFTIX Tiaa Cref LifecyclePairCorr

Moving against Tiaa Mutual Fund

  0.5TEMVX Tiaa Cref EmergingPairCorr
  0.49TEMLX Tiaa Cref EmergingPairCorr
  0.49TEMHX Tiaa Cref EmergingPairCorr
  0.49TEMPX Tiaa Cref EmergingPairCorr
  0.48TEMRX Tiaa Cref EmergingPairCorr
  0.48TEMSX Tiaa Cref EmergingPairCorr
  0.45TENWX Tiaa Cref EmergingPairCorr
  0.45TEQLX Tiaa Cref EmergingPairCorr
  0.44TEQKX Tiaa Cref EmergingPairCorr
  0.44TEQHX Tiaa Cref EmergingPairCorr
  0.44TEQSX Tiaa Cref EmergingPairCorr
  0.44TEQPX Tiaa Cref EmergingPairCorr

Related Correlations Analysis

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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   
PRINX
+ 0.97
BSNSX
PRINX
+ 0.96
MDMTX
MDMTX
+ 0.95
BSNSX
MDMTX
+ 0.74
AFB
PRINX
+ 0.68
AFB
BSNSX
+ 0.64
AFB
  
High negative correlations   
GABTX
- 0.27
AFB

Risk-Adjusted Indicators

There is a big difference between Tiaa Mutual Fund performing well and Tiaa Cref 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'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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