Thrivent High Correlations

LBHYX Fund

USD 4.26 0.01 0.24%

The current 90-days correlation between Thrivent High Yield and Vanguard High Yield Corporate is 0.71 (i.e., Poor diversification). The correlation of Thrivent High 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 High Correlation With Market

Average diversification

The correlation between Thrivent High Yield and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent High Yield and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Thrivent High Yield. 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 Thrivent Mutual Fund

0.69	THLCX	Thrivent Large Cap	Pair Corr
0.77	THMAX	Thrivent Moderate	Pair Corr
0.69	AAAGX	Thrivent Large Cap	Pair Corr
0.71	AAHYX	Thrivent Diversified	Pair Corr
0.67	AASCX	Thrivent Mid Cap	Pair Corr
0.68	AASMX	Thrivent Small Cap	Pair Corr
0.7	TLVIX	Thrivent Large Cap	Pair Corr
0.76	TMAIX	Thrivent Moderate	Pair Corr
0.74	TMAFX	Thrivent Moderately	Pair Corr
0.74	TMAAX	Thrivent Moderately	Pair Corr
0.69	TMCGX	Turner Emerging Growth	Pair Corr
0.67	TMSIX	Thrivent Mid Cap	Pair Corr
0.98	LBHIX	Thrivent High Yield	Pair Corr
0.72	TAAAX	Thrivent Aggressive	Pair Corr
0.72	TAAIX	Thrivent Aggressive	Pair Corr
0.65	TSCGX	Thrivent Small Cap	Pair Corr
0.68	TSCSX	Thrivent Small Cap	Pair Corr
0.81	TCAAX	Thrivent Moderately	Pair Corr
0.94	VWEAX	Vanguard High Yield	Pair Corr
0.93	VWEHX	Vanguard High Yield	Pair Corr
0.98	BHYCX	Blackrock Hi Yld	Pair Corr
0.98	BHYIX	Blackrock High Yield	Pair Corr
0.98	BHYSX	Blackrock Hi Yld	Pair Corr
0.98	BHYAX	Blackrock High Yield	Pair Corr
0.95	FAHHX	American Funds American	Pair Corr
0.94	FTAHX	American Funds American	Pair Corr
0.96	AHTFX	American High Income	Pair Corr
0.97	AHTCX	American High Income	Pair Corr
0.73	FTYPX	Fidelity Freedom Index	Pair Corr

Moving against Thrivent Mutual Fund

0.37	GABFX	Gmo Asset Allocation	Pair Corr
0.36	GAAVX	Gmo Alternative Allo	Pair Corr

Related Correlations Analysis

	VWEAX	VWEHX	BHYCX	BHYIX	BHYSX	BHYAX	FAHHX	FTAHX	AHTFX	AHTCX
VWEAX		1.0	0.92	0.91	0.9	0.91	0.85	0.83	0.87	0.89	VWEAX
VWEHX	1.0		0.92	0.9	0.9	0.9	0.84	0.83	0.86	0.88	VWEHX
BHYCX	0.92	0.92		0.99	0.99	0.99	0.96	0.96	0.97	0.98	BHYCX
BHYIX	0.91	0.9	0.99		0.99	0.99	0.97	0.97	0.98	0.98	BHYIX
BHYSX	0.9	0.9	0.99	0.99		0.99	0.98	0.97	0.98	0.99	BHYSX
BHYAX	0.91	0.9	0.99	0.99	0.99		0.98	0.97	0.98	0.99	BHYAX
FAHHX	0.85	0.84	0.96	0.97	0.98	0.98		1.0	1.0	0.99	FAHHX
FTAHX	0.83	0.83	0.96	0.97	0.97	0.97	1.0		1.0	0.99	FTAHX
AHTFX	0.87	0.86	0.97	0.98	0.98	0.98	1.0	1.0		1.0	AHTFX
AHTCX	0.89	0.88	0.98	0.98	0.99	0.99	0.99	0.99	1.0		AHTCX
	VWEAX	VWEHX	BHYCX	BHYIX	BHYSX	BHYAX	FAHHX	FTAHX	AHTFX	AHTCX

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Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent High 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 High'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VWEAX	0.10	0.00	(0.49)	0.24	(0.23)	0.37	(0.18)	0.74
VWEHX	0.10	0.00	(0.51)	0.18	(0.22)	0.19	(0.18)	0.73
BHYCX	0.11	0.01	(0.51)	0.24	(0.20)	0.28	(0.28)	0.85
BHYIX	0.12	0.01	(0.43)	0.23	(0.21)	0.28	(0.28)	0.85
BHYSX	0.14	0.01	(0.49)	0.21	(0.20)	0.28	(0.28)	0.85
BHYAX	0.13	0.01	(0.47)	0.23	(0.21)	0.28	(0.28)	0.85
FAHHX	0.13	0.02	(0.53)	0.33	(0.20)	0.31	(0.20)	0.92
FTAHX	0.13	0.02	(0.56)	0.34	(0.20)	0.31	(0.20)	0.83
AHTFX	0.13	0.02	(0.53)	0.32	(0.20)	0.31	(0.20)	0.93
AHTCX	0.13	0.01	(0.55)	0.28	(0.19)	0.31	(0.20)	0.83

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