Degreeing the cam changes the relation of position between the camshaft and crankshaft. It does not change where TDC is. TDC is always when the piston, (usually #1 piston is the subject) is at the top of the stroke.
Be careful about setting the keys in the cam or crank gear. Some things to understand.
1) the crank gear has 1/2 as many teeth on it than the cam gear, thus the crank goes through two full revolutions for one revolution of the cam gear.
2) retarding the crank gear, advances the cam gear, and vice versa. so be away of which gear you are changing position, which way you move it, and how it affects the final position of the cam
3) 4 degree move of a crank gear nets a 2 degree movement of a cam gear and vice versa.
4) camshafts can be made with advance or retard already ground into them. so before you start, know the cam grind first
What exactly are you trying to accomplish? Do you have a cam card for the cam? Have you gone through the process of verifying that your current harmonic balancer and timing cover mark are correct at true TDC #1?