Thrivent Small Correlations

AASMX Fund

USD 25.34 0.47 1.89%

The current 90-days correlation between Thrivent Small Cap and Ab E Opportunities is 0.01 (i.e., Significant diversification). The correlation of Thrivent Small 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.

Thrivent Small Correlation With Market

Good diversification

The correlation between Thrivent Small Cap and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent Small Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Thrivent Small Cap. 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 population.

Moving together with Thrivent Mutual Fund

0.76	VSMAX	Vanguard Small Cap	Pair Corr
0.76	VSCIX	Vanguard Small Cap	Pair Corr
0.76	VSCPX	Vanguard Small Cap	Pair Corr
0.83	NAESX	Vanguard Small Cap	Pair Corr
0.76	FSSNX	Fidelity Small Cap	Pair Corr
0.91	DFSTX	Us Small Cap	Pair Corr
0.8	PASVX	T Rowe Price	Pair Corr
0.9	PRVIX	T Rowe Price	Pair Corr
0.9	TRZVX	T Rowe Price	Pair Corr
0.98	PRSVX	T Rowe Price	Pair Corr
0.75	CSCO	Cisco Systems	Pair Corr
0.7	BAC	Bank of America Aggressive Push	Pair Corr
0.67	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.62	WMT	Walmart Aggressive Push	Pair Corr
0.69	HPQ	HP Inc	Pair Corr
0.76	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.75	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.76	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr

Moving against Thrivent Mutual Fund

0.55	LIIAX	Columbia Porate Income	Pair Corr
0.5	SRINX	Columbia Porate Income	Pair Corr
0.49	CIFRX	Columbia Porate Income	Pair Corr
0.69	KO	Coca Cola Aggressive Push	Pair Corr
0.65	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.59	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.54	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	ADGAX	EICVX	SMPIX	MDSKX	OPTCX	LPPIX
ADGAX		0.82	0.83	0.89	0.93	-0.28	ADGAX
EICVX	0.82		0.72	0.87	0.88	-0.22	EICVX
SMPIX	0.83	0.72		0.74	0.75	-0.47	SMPIX
MDSKX	0.89	0.87	0.74		0.91	-0.28	MDSKX
OPTCX	0.93	0.88	0.75	0.91		-0.18	OPTCX
LPPIX	-0.28	-0.22	-0.47	-0.28	-0.18		LPPIX
	ADGAX	EICVX	SMPIX	MDSKX	OPTCX	LPPIX

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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

OPTCX	+ 0.93	ADGAX
OPTCX	+ 0.91	MDSKX
MDSKX	+ 0.89	ADGAX
OPTCX	+ 0.88	EICVX
MDSKX	+ 0.87	EICVX
SMPIX	+ 0.83	ADGAX

High negative correlations

LPPIX	- 0.47	SMPIX
LPPIX	- 0.28	MDSKX
LPPIX	- 0.28	ADGAX
LPPIX	- 0.22	EICVX
LPPIX	- 0.18	OPTCX

Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent Small 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 Thrivent Small'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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ADGAX	0.57	(0.02)	(0.03)	0.08	0.73	(0.59)	1.11	(1.59)	4.36
EICVX	0.45	0.05	(0.11)	(1.40)	0.40	(0.52)	1.09	(0.71)	2.12
SMPIX	2.78	0.14	0.00	(0.56)	4.06	(2.47)	5.38	(6.39)	18.07
MDSKX	0.94	0.12	0.02	4.08	0.93	(1.03)	2.09	(1.62)	7.61
OPTCX	0.16	0.04	(0.32)	1.34	0.00	(0.24)	0.41	(0.21)	1.07
LPPIX	0.13	(0.01)	(0.32)	(0.12)	0.19	(0.20)	0.26	(0.26)	1.27

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