Thornburg Low Correlations

TLDAX Fund

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The current 90-days correlation between Thornburg Low Duration and Health Care Fund is -0.03 (i.e., Good diversification). The correlation of Thornburg Low 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 Low Correlation With Market

Good diversification

The correlation between Thornburg Low Duration and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg Low Duration 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 Low Duration. 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 nation.

Moving together with Thornburg Mutual Fund

0.78	TVRRX	Thornburg Value	Pair Corr
0.78	TVRFX	Thornburg Value	Pair Corr
0.74	THCGX	Thornburg E Growth	Pair Corr
0.74	THCRX	Thornburg E Growth	Pair Corr
0.75	THGRX	Thornburg E Growth	Pair Corr
0.75	THIGX	Thornburg E Growth	Pair Corr

Moving against Thornburg Mutual Fund

0.64	THGIX	Thornburg International	Pair Corr
0.63	THIQX	Thornburg Limited Term	Pair Corr
0.6	THIRX	Thornburg Limited Term	Pair Corr
0.55	THIIX	Thornburg Limited Term	Pair Corr
0.48	TGVRX	Thornburg International	Pair Corr
0.48	THGCX	Thornburg International	Pair Corr
0.47	TGIRX	Thornburg International	Pair Corr
0.47	TGVAX	Thornburg International	Pair Corr
0.47	TGVIX	Thornburg International	Pair Corr
0.6	THICX	Thornburg Limited Term	Pair Corr
0.6	THRIX	Thornburg Limited Term	Pair Corr
0.59	THIFX	Thornburg Limited Term	Pair Corr
0.55	THRLX	Thornburg Limited Term	Pair Corr
0.55	THRRX	Thornburg Limited Term	Pair Corr
0.54	TIBCX	Thornburg Investment	Pair Corr
0.47	THVRX	Thornburg International	Pair Corr
0.37	THNDX	Thornburg New Mexico	Pair Corr
0.31	THNMX	Thornburg New Mexico	Pair Corr

Related Correlations Analysis

	RYHCX	XXGRX	BHSRX	RAGHX	AHSCX	LOGSX
RYHCX		0.98	0.95	0.98	0.51	0.8	RYHCX
XXGRX	0.98		0.95	0.97	0.47	0.76	XXGRX
BHSRX	0.95	0.95		0.94	0.6	0.81	BHSRX
RAGHX	0.98	0.97	0.94		0.42	0.75	RAGHX
AHSCX	0.51	0.47	0.6	0.42		0.71	AHSCX
LOGSX	0.8	0.76	0.81	0.75	0.71		LOGSX
	RYHCX	XXGRX	BHSRX	RAGHX	AHSCX	LOGSX

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Risk-Adjusted Indicators

There is a big difference between Thornburg Mutual Fund performing well and Thornburg Low 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 Low'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
RYHCX	0.58	(0.09)	0.00	(0.51)	0.00	0.00	0.95	(1.22)	3.51
XXGRX	0.62	(0.12)	0.00	(0.96)	0.00	0.00	1.01	(1.19)	2.74
BHSRX	0.59	(0.14)	0.00	(0.11)	0.00	0.00	0.91	(1.31)	3.39
RAGHX	0.63	(0.10)	0.00	(0.43)	0.00	0.00	0.96	(1.37)	3.33
AHSCX	0.57	(0.06)	(0.16)	0.00	0.75	(0.56)	0.82	(1.25)	4.55
LOGSX	0.61	(0.15)	0.00	(0.12)	0.00	0.00	1.02	(1.16)	3.97

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