Thornburg Investment Correlations

TIBRX Fund

USD 25.44 0.15 0.59%

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

Good diversification

The correlation between Thornburg Investment Income and DJI is -0.14 (i.e., Good 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 metropolitan statistical area.

Moving together with Thornburg Mutual Fund

0.87	TGIRX	Thornburg International	Pair Corr
0.85	TGVAX	Thornburg International	Pair Corr
0.85	TGVIX	Thornburg International	Pair Corr
0.85	TGVRX	Thornburg International	Pair Corr
0.77	THGIX	Thornburg International	Pair Corr
0.84	THGCX	Thornburg International	Pair Corr
0.73	THOVX	Thornburg Global Opp	Pair Corr
0.73	THOAX	Thornburg Global Opp	Pair Corr
0.72	THOIX	Thornburg Global Opp	Pair Corr
0.72	THOGX	Thornburg Global Opp	Pair Corr
0.72	THOFX	Thornburg Global Opp	Pair Corr
0.74	THOCX	Thornburg Global Opp	Pair Corr
0.73	THORX	Thornburg Global Opp	Pair Corr
0.85	THVRX	Thornburg International	Pair Corr

Moving against Thornburg Mutual Fund

0.36	TVRFX	Thornburg Value	Pair Corr
0.31	TVRRX	Thornburg Value	Pair Corr

Related Correlations Analysis

	TIBMX	TGVRX	TIBGX	THORX	RRTNX
TIBMX		0.84	0.93	0.75	0.34	TIBMX
TGVRX	0.84		0.87	0.81	0.18	TGVRX
TIBGX	0.93	0.87		0.74	0.2	TIBGX
THORX	0.75	0.81	0.74		0.6	THORX
RRTNX	0.34	0.18	0.2	0.6		RRTNX
	TIBMX	TGVRX	TIBGX	THORX	RRTNX

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TIBMX	0.34	(0.04)	0.00	0.55	0.00	0.00	0.58	(0.83)	3.29
TGVRX	0.63	(0.15)	0.00	(1.16)	0.00	0.00	1.42	(1.37)	7.17
TIBGX	0.35	(0.08)	0.00	(0.11)	0.00	0.00	0.57	(0.84)	3.19
THORX	0.50	(0.11)	0.00	(0.18)	0.00	0.00	0.81	(1.31)	4.60
RRTNX	0.32	0.01	(0.24)	(0.74)	0.39	(0.32)	0.66	(0.65)	1.85

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