Modeling of turbulent flows in axial turbomachines is challenging due to the high spatial and temporal variability in the distribution of the strain rate components, especially in the tip region of rotor blades. High-resolution stereo-particle image velocimetry (SPIV) measurements performed in a refractive index-matched facility in a series of closely spaced planes provide a comprehensive database for determining all the terms in the Reynolds stress and strain rate tensors. Results are also used for calculating the turbulent kinetic energy (TKE) production rate and transport terms by mean flow and turbulence. They elucidate some but not all of the observed phenomena, such as the high anisotropy, high turbulence levels in the vicinity of the tip leakage vortex (TLV) center, and in the shear layer connecting it to the blade suction side (SS) tip corner. The applicability of popular Reynolds stress models based on eddy viscosity is also evaluated by calculating it from the ratio between stress and strain rate components. Results vary substantially, depending on which components are involved, ranging from very large positive to negative values. In some areas, e.g., in the tip gap and around the TLV, the local stresses and strain rates do not appear to be correlated at all. In terms of effect on the mean flow, for most of the tip region, the mean advection terms are much higher than the Reynolds stress spatial gradients, i.e., the flow dynamics is dominated by pressure-driven transport. However, they are of similar magnitude in the shear layer, where modeling would be particularly challenging.