Thornburg Core Correlations

THCGX Fund

USD 27.46 0.05 0.18%

The current 90-days correlation between Thornburg E Growth and Transamerica Financial Life is 0.34 (i.e., Weak diversification). The correlation of Thornburg Core 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 Core Correlation With Market

Very weak diversification

The correlation between Thornburg E Growth and DJI is 0.59 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg E Growth 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 E Growth. 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 price.

Moving together with THORNBURG Mutual Fund

0.99	TVRRX	Thornburg Value	Pair Corr
0.99	TVRFX	Thornburg Value	Pair Corr
0.79	THCRX	Thornburg E Growth	Pair Corr
1.0	THGRX	Thornburg E Growth	Pair Corr
1.0	THIGX	Thornburg E Growth	Pair Corr

Moving against THORNBURG Mutual Fund

0.82	THIRX	Thornburg Limited Term	Pair Corr
0.81	THIIX	Thornburg Limited Term	Pair Corr
0.78	THCAX	Thornburg Core Plus	Pair Corr
0.71	TGIRX	Thornburg International	Pair Corr
0.71	TGVAX	Thornburg International	Pair Corr
0.71	TGVIX	Thornburg International	Pair Corr
0.71	TGVRX	Thornburg International	Pair Corr
0.71	THGCX	Thornburg International	Pair Corr
0.64	THCHX	Thornburg Core Plus	Pair Corr
0.45	THIMX	Thornburg Intermediate	Pair Corr
0.83	THRIX	Thornburg Limited Term	Pair Corr
0.82	THICX	Thornburg Limited Term	Pair Corr
0.81	THIQX	Thornburg Limited Term	Pair Corr
0.81	THIFX	Thornburg Limited Term	Pair Corr
0.81	THRLX	Thornburg Limited Term	Pair Corr
0.81	THRRX	Thornburg Limited Term	Pair Corr
0.47	THNIX	Thornburg New Mexico	Pair Corr
0.45	THNDX	Thornburg New Mexico	Pair Corr
0.44	THOIX	Thornburg Global Opp	Pair Corr
0.44	THOGX	Thornburg Global Opp	Pair Corr
0.44	THOFX	Thornburg Global Opp	Pair Corr
0.43	THMQX	Thornburg Intermediate	Pair Corr
0.43	THMCX	Thornburg Intermediate	Pair Corr
0.43	THMIX	Thornburg Intermediate	Pair Corr
0.43	THOVX	Thornburg Global Opp	Pair Corr
0.43	THOAX	Thornburg Global Opp	Pair Corr
0.43	THOCX	Thornburg Global Opp	Pair Corr
0.43	THORX	Thornburg Global Opp	Pair Corr
0.4	THNMX	Thornburg New Mexico	Pair Corr

Related Correlations Analysis

	IAAEX	ABYSX	SHPSX	AOPAX	PRDMX	SMVTX	LVAQX
IAAEX		0.41	-0.38	0.21	0.35	0.53	0.62	IAAEX
ABYSX	0.41		-0.95	-0.23	0.95	0.95	0.94	ABYSX
SHPSX	-0.38	-0.95		0.35	-0.9	-0.89	-0.94	SHPSX
AOPAX	0.21	-0.23	0.35		-0.1	-0.11	-0.26	AOPAX
PRDMX	0.35	0.95	-0.9	-0.1		0.91	0.87	PRDMX
SMVTX	0.53	0.95	-0.89	-0.11	0.91		0.93	SMVTX
LVAQX	0.62	0.94	-0.94	-0.26	0.87	0.93		LVAQX
	IAAEX	ABYSX	SHPSX	AOPAX	PRDMX	SMVTX	LVAQX

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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

PRDMX	+ 0.95	ABYSX
SMVTX	+ 0.95	ABYSX
LVAQX	+ 0.94	ABYSX
LVAQX	+ 0.93	SMVTX
SMVTX	+ 0.91	PRDMX
LVAQX	+ 0.87	PRDMX

High negative correlations

SHPSX	- 0.95	ABYSX
LVAQX	- 0.94	SHPSX
PRDMX	- 0.9	SHPSX
SMVTX	- 0.89	SHPSX
SHPSX	- 0.38	IAAEX
LVAQX	- 0.26	AOPAX

Risk-Adjusted Indicators

There is a big difference between THORNBURG Mutual Fund performing well and Thornburg Core 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 Core'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
IAAEX	0.80	(0.12)	0.00	(0.32)	0.00	0.00	1.41	(1.48)	9.17
ABYSX	0.85	(0.10)	0.00	(0.17)	0.00	0.00	1.38	(2.08)	4.03
SHPSX	1.00	0.14	0.25	(0.21)	0.93	(1.21)	2.75	(1.56)	7.00
AOPAX	0.48	0.05	0.12	0.04	0.67	(0.51)	1.15	(1.14)	3.90
PRDMX	1.34	(0.18)	0.00	(0.22)	0.00	0.00	1.84	(3.77)	7.15
SMVTX	1.01	(0.15)	0.00	(0.22)	0.00	0.00	1.39	(2.22)	9.55
LVAQX	0.83	(0.14)	0.00	(0.24)	0.00	0.00	1.18	(1.87)	3.80

Trending Assets

ABYSX

Ab Discovery Value

20.43 -0.17 -0.83

SMVTX

Ridgeworth Ceredex Mid

11.56 -0.13 -1.11

IAAEX

Transamerica Financial

10.78 -0.08 -0.74

SHPSX

Short Small Cap

53.96 0.35 0.65

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