Thornburg International Correlations

Mutual Funds . USA . 
Fund . Thornburg International Value
TGVAX Fund  USD 25.52  0.08  0.31%   
The current 90-days correlation between Thornburg International and Growth Fund Of is 0.1 (i.e., Average diversification). The correlation of Thornburg International 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.

Thornburg International Correlation With Market

Significant diversification

The correlation between Thornburg International Value and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg International Value and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Thornburg International Value. 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 nation.

Moving together with Thornburg Mutual Fund

  1.0TGIRX Thornburg InternationalPairCorr
  0.97TGVIX Thornburg InternationalPairCorr
  1.0TGVRX Thornburg InternationalPairCorr
  0.86THDCX Thornburg DevelopingPairCorr
  0.85THDAX Thornburg DevelopingPairCorr
  0.85THDIX Thornburg DevelopingPairCorr
  0.85THDRX Thornburg DevelopingPairCorr
  0.99THGIX Thornburg InternationalPairCorr
  1.0THGCX Thornburg InternationalPairCorr
  0.97THOVX Thornburg Global OppPairCorr
  0.96THOAX Thornburg Global OppPairCorr
  0.96THOIX Thornburg Global OppPairCorr
  0.96THOGX Thornburg Global OppPairCorr
  0.96THOFX Thornburg Global OppPairCorr
  0.97THOCX Thornburg Global OppPairCorr
  0.97THORX Thornburg Global OppPairCorr
  0.68TIBCX Thornburg InvestmentPairCorr

Moving against Thornburg Mutual Fund

  0.46THCGX Thornburg E GrowthPairCorr
  0.46THGRX Thornburg E GrowthPairCorr
  0.46THIGX Thornburg E GrowthPairCorr
  0.45THCRX Thornburg E GrowthPairCorr
  0.42TVRRX Thornburg ValuePairCorr
  0.39TVRFX Thornburg ValuePairCorr

Related Correlations Analysis

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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   
NEFZX
+ 0.71
GFAFX
EHSTX
+ 0.67
GFAFX
EHSTX
+ 0.65
NEFZX
THCGX
+ 0.61
NEFZX
THCGX
+ 0.48
GFAFX
EHSTX
+ 0.35
THCGX
  
High negative correlations   
EHSTX
- 0.38
OIBAX
OIBAX
- 0.2
GFAFX

Risk-Adjusted Indicators

There is a big difference between Thornburg Mutual Fund performing well and Thornburg International 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 Thornburg International'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.

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