Thornburg Global Correlations

THOIX Fund

USD 37.24 0.02 0.05%

The current 90-days correlation between Thornburg Global Opp and Gmo Emerging Ntry is -0.06 (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.

Check out 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 gross domestic product.

Moving together with Thornburg Mutual Fund

0.78	TGIRX	Thornburg International	Pair Corr
0.81	TGVAX	Thornburg International	Pair Corr
0.81	TGVIX	Thornburg International	Pair Corr
0.8	TGVRX	Thornburg International	Pair Corr
0.9	THDCX	Thornburg Developing	Pair Corr
0.89	THDAX	Thornburg Developing	Pair Corr
0.89	THDIX	Thornburg Developing	Pair Corr
0.89	THDRX	Thornburg Developing	Pair Corr
0.79	THGCX	Thornburg International	Pair Corr
1.0	THOVX	Thornburg Global Opp	Pair Corr
1.0	THOAX	Thornburg Global Opp	Pair Corr
1.0	THOGX	Thornburg Global Opp	Pair Corr
1.0	THOFX	Thornburg Global Opp	Pair Corr
1.0	THOCX	Thornburg Global Opp	Pair Corr
1.0	THORX	Thornburg Global Opp	Pair Corr
0.8	THVRX	Thornburg International	Pair Corr

Related Correlations Analysis

	GMCDX	PNAIX	TARKX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3
GMCDX		0.68	0.67	0.0	0.81	0.89	0.05	0.83	0.14	0.1	GMCDX
PNAIX	0.68		0.87	0.0	0.64	0.61	0.46	0.71	0.46	0.54	PNAIX
TARKX	0.67	0.87		0.0	0.64	0.69	0.48	0.65	0.38	0.49	TARKX
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.81	0.64	0.64	0.0		0.69	-0.13	0.81	-0.05	0.16	MSTSX
LBHIX	0.89	0.61	0.69	0.0	0.69		0.16	0.72	0.24	0.09	LBHIX
VIASP	0.05	0.46	0.48	0.0	-0.13	0.16		-0.04	0.78	0.5	VIASP
RRTLX	0.83	0.71	0.65	0.0	0.81	0.72	-0.04		0.02	0.01	RRTLX
OSHDF	0.14	0.46	0.38	0.0	-0.05	0.24	0.78	0.02		0.32	OSHDF
70082LAB3	0.1	0.54	0.49	0.0	0.16	0.09	0.5	0.01	0.32		70082LAB3
	GMCDX	PNAIX	TARKX	AQUI	MSTSX	LBHIX	VIASP	RRTLX	OSHDF	70082LAB3

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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

LBHIX	+ 0.89	GMCDX
TARKX	+ 0.87	PNAIX
RRTLX	+ 0.83	GMCDX
MSTSX	+ 0.81	GMCDX
RRTLX	+ 0.81	MSTSX
OSHDF	+ 0.78	VIASP

High negative correlations

VIASP	- 0.13	MSTSX
OSHDF	- 0.05	MSTSX
RRTLX	- 0.04	VIASP
70082LAB3	- 0.0	AQUI
OSHDF	- 0.0	AQUI
RRTLX	- 0.0	AQUI

Risk-Adjusted Indicators

There is a big difference between Thornburg Mutual Fund performing well and Thornburg Global 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 Global'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
GMCDX	0.20	0.02	(0.38)	1.46	0.12	(0.24)	0.39	(0.34)	1.55
PNAIX	0.58	0.07	(0.06)	5.37	0.67	(0.64)	1.08	(1.61)	3.74
TARKX	1.21	(0.02)	0.05	0.11	1.49	(1.26)	2.23	(2.32)	11.30
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.50	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.02	(0.41)	2.96	0.00	(0.29)	0.24	(0.24)	0.96
VIASP	0.72	0.00	(0.02)	0.00	1.05	(0.80)	2.28	(1.15)	7.18
RRTLX	0.24	0.00	(0.33)	0.37	0.26	(0.27)	0.56	(0.56)	1.37
OSHDF	39.65	22.65	0.00	(0.96)	0.00	0.00	0.00	0.00	1,329
70082LAB3	0.99	0.03	(0.04)	1.55	2.18	(1.09)	1.75	(1.69)	24.27

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