Thornburg Strategic Correlations

TSICX Fund

USD 11.49 0.02 0.17%

The current 90-days correlation between Thornburg Strategic and T Rowe Price is 0.02 (i.e., Significant diversification). The correlation of Thornburg Strategic 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 Strategic Correlation With Market

Good diversification

The correlation between Thornburg Strategic Income and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg Strategic 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 Strategic 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 main economic indicators.

Moving together with Thornburg Mutual Fund

0.73	THIMX	Thornburg Intermediate	Pair Corr
0.99	THIIX	Thornburg Limited Term	Pair Corr
0.99	THIRX	Thornburg Limited Term	Pair Corr
1.0	THIQX	Thornburg Limited Term	Pair Corr
0.99	THIFX	Thornburg Limited Term	Pair Corr
0.99	THICX	Thornburg Limited Term	Pair Corr
0.77	THMQX	Thornburg Intermediate	Pair Corr
0.79	THNDX	Thornburg New Mexico	Pair Corr
0.75	THNMX	Thornburg New Mexico	Pair Corr
0.75	THNIX	Thornburg New Mexico	Pair Corr
0.7	THMCX	Thornburg Intermediate	Pair Corr
0.73	THMIX	Thornburg Intermediate	Pair Corr
0.71	THNYX	Thornburg New York	Pair Corr
0.99	THRLX	Thornburg Limited Term	Pair Corr
0.99	THRIX	Thornburg Limited Term	Pair Corr
0.99	THRRX	Thornburg Limited Term	Pair Corr

Moving against Thornburg Mutual Fund

0.61	TVRRX	Thornburg Value	Pair Corr
0.61	TVRFX	Thornburg Value	Pair Corr
0.61	THCGX	Thornburg E Growth	Pair Corr
0.61	THCRX	Thornburg E Growth	Pair Corr
0.61	THGRX	Thornburg E Growth	Pair Corr
0.61	THIGX	Thornburg E Growth	Pair Corr

Related Correlations Analysis

	TADGX	AAARX	OWLSX	LMUSX	LBISX	PHJFX
TADGX		0.92	0.79	0.77	0.84	0.69	TADGX
AAARX	0.92		0.9	0.9	0.91	0.64	AAARX
OWLSX	0.79	0.9		0.96	0.87	0.44	OWLSX
LMUSX	0.77	0.9	0.96		0.95	0.3	LMUSX
LBISX	0.84	0.91	0.87	0.95		0.32	LBISX
PHJFX	0.69	0.64	0.44	0.3	0.32		PHJFX
	TADGX	AAARX	OWLSX	LMUSX	LBISX	PHJFX

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Risk-Adjusted Indicators

There is a big difference between Thornburg Mutual Fund performing well and Thornburg Strategic 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 Strategic'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
TADGX	0.48	(0.04)	(0.12)	0.07	0.50	(0.50)	0.99	(0.94)	2.87
AAARX	0.43	(0.01)	(0.09)	0.11	0.44	(0.51)	0.93	(0.70)	2.37
OWLSX	0.50	0.07	(0.09)	(2.27)	0.63	(0.56)	1.02	(1.18)	3.30
LMUSX	0.61	0.12	0.00	3.42	0.73	(0.70)	1.28	(1.49)	4.08
LBISX	0.57	0.00	(0.01)	0.13	0.38	(0.68)	1.14	(0.95)	4.72
PHJFX	0.23	(0.02)	(0.35)	0.06	0.22	(0.26)	0.47	(0.56)	1.22

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