Thornburg Investment Correlations

Mutual Funds . USA . 
Fund . Thornburg Investment Income
TIBGX Fund  USD 26.66  0.22  0.83%   
The current 90-days correlation between Thornburg Investment and Thornburg Investment Income is 1.0 (i.e., No risk reduction). The correlation of Thornburg Investment 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 Investment Correlation With Market

Modest diversification

The correlation between Thornburg Investment Income and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg Investment Income 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 Investment Income. 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

  0.66THOVX Thornburg Global OppPairCorr
  0.66THOAX Thornburg Global OppPairCorr
  0.67THOIX Thornburg Global OppPairCorr
  0.63THOCX Thornburg Global OppPairCorr
  0.66THORX Thornburg Global OppPairCorr
  1.0TIBCX Thornburg InvestmentPairCorr

Moving against Thornburg Mutual Fund

  0.32TVRRX Thornburg ValuePairCorr
  0.51THMGX Thornburg InvestmentPairCorr
  0.45THMCX Thornburg IntermediatePairCorr
  0.43THMIX Thornburg IntermediatePairCorr
  0.42THNMX Thornburg New MexicoPairCorr
  0.37THNDX Thornburg New MexicoPairCorr
  0.36THNIX Thornburg New MexicoPairCorr
  0.35THNYX Thornburg New YorkPairCorr

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   
FTUIX
+ 1.0
FTUCX
HFCIX
+ 0.62
FTUCX
HFCIX
+ 0.6
FTUIX
FTUIX
+ 0.49
GSXIX
FTUCX
+ 0.47
GSXIX
GSXIX
+ 0.08
TIBMX
  
High negative correlations   
FTUIX
- 0.37
TIBMX
FTUCX
- 0.37
TIBMX
HFCIX
- 0.21
TIBMX
HFCIX
- 0.04
GSXIX

Risk-Adjusted Indicators

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