Thrivent Opportunity Correlations

IIINX Fund

USD 9.11 0.04 0.44%

The current 90-days correlation between Thrivent Opportunity and Thrivent Partner Worldwide is 0.22 (i.e., Modest diversification). The correlation of Thrivent Opportunity 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 Opportunity Correlation With Market

Significant diversification

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

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Thrivent Opportunity Income. 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 board of governors.

Moving together with Thrivent Mutual Fund

0.81	THLIX	Thrivent Limited Maturity	Pair Corr
0.71	THMBX	Thrivent High Income	Pair Corr
0.72	THYFX	Thrivent Diversified	Pair Corr
0.99	AAINX	Thrivent Opportunity	Pair Corr
0.84	AAMBX	Thrivent Municipal Bond	Pair Corr
0.91	LBIIX	Thrivent Income	Pair Corr
0.79	TBFIX	Thrivent Government Bond	Pair Corr
0.97	PONAX	Pimco Income	Pair Corr
0.96	PONCX	Pimco Income	Pair Corr
0.98	PIPNX	Pimco Income	Pair Corr
0.97	PONRX	Pimco Income	Pair Corr
0.98	PONPX	Pimco Incme Fund	Pair Corr

Moving against Thrivent Mutual Fund

0.43	FMFFX	Fs Managed Futures	Pair Corr
0.32	SPMPX	Invesco Steelpath Mlp	Pair Corr
0.32	MLPNX	Oppenheimer Steelpath Mlp	Pair Corr
0.32	MLPMX	Oppenheimer Steelpath Mlp	Pair Corr

Related Correlations Analysis

	TWAAX	TWAIX	THLCX	THLIX	THMAX	THMBX	THYFX	AAAGX	AABFX
TWAAX		1.0	-0.39	0.26	-0.35	0.35	0.36	-0.39	0.18	TWAAX
TWAIX	1.0		-0.38	0.26	-0.34	0.35	0.37	-0.38	0.19	TWAIX
THLCX	-0.39	-0.38		0.09	0.92	-0.02	0.42	1.0	0.64	THLCX
THLIX	0.26	0.26	0.09		0.17	0.79	0.7	0.09	0.53	THLIX
THMAX	-0.35	-0.34	0.92	0.17		0.1	0.51	0.92	0.81	THMAX
THMBX	0.35	0.35	-0.02	0.79	0.1		0.62	-0.02	0.48	THMBX
THYFX	0.36	0.37	0.42	0.7	0.51	0.62		0.43	0.83	THYFX
AAAGX	-0.39	-0.38	1.0	0.09	0.92	-0.02	0.43		0.64	AAAGX
AABFX	0.18	0.19	0.64	0.53	0.81	0.48	0.83	0.64		AABFX
	TWAAX	TWAIX	THLCX	THLIX	THMAX	THMBX	THYFX	AAAGX	AABFX

Click cells to compare fundamentals

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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

TWAIX	+ 1.0	TWAAX
AAAGX	+ 1.0	THLCX
THMAX	+ 0.92	THLCX
AAAGX	+ 0.92	THMAX
AABFX	+ 0.83	THYFX
AABFX	+ 0.81	THMAX

High negative correlations

AAAGX	- 0.39	TWAAX
THLCX	- 0.39	TWAAX
AAAGX	- 0.38	TWAIX
THLCX	- 0.38	TWAIX
THMAX	- 0.35	TWAAX
THMAX	- 0.34	TWAIX

Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent Opportunity 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 Opportunity'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
TWAAX	0.60	(0.13)	0.00	(0.17)	0.00	0.00	0.92	(1.56)	3.84
TWAIX	0.60	(0.13)	0.00	(0.16)	0.00	0.00	0.91	(1.55)	3.81
THLCX	0.69	(0.02)	(0.03)	0.10	0.98	(0.68)	1.28	(1.95)	5.04
THLIX	0.08	0.00	(0.92)	(0.01)	0.00	(0.12)	0.16	(0.16)	0.65
THMAX	0.36	0.05	(0.13)	3.67	0.34	(0.43)	0.73	(0.78)	2.29
THMBX	0.16	0.00	(0.24)	0.11	0.25	(0.22)	0.42	(0.31)	1.65
THYFX	0.17	(0.01)	(0.38)	0.07	0.14	(0.23)	0.42	(0.42)	1.14
AAAGX	0.68	(0.02)	(0.03)	0.10	0.98	(0.69)	1.28	(1.96)	5.01
AABFX	0.25	0.01	(0.32)	0.68	0.24	(0.27)	0.57	(0.56)	1.41

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