| THOGX Fund | | | USD 37.77 0.05 0.13% |
The current 90-days correlation between Thornburg Global Opp and Gabelli Convertible And is -0.02 (i.e., Good diversification). The correlation of Thornburg Global 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 Global Correlation With Market
Weak diversification
The correlation between Thornburg Global Opportunities and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg Global Opportunities and DJI in the same portfolio, assuming nothing else is changed.
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World Market Map to better understand how to build diversified portfolios, which includes a position in Thornburg Global Opportunities. 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.