Thornburg Value Correlations

TVRRX Fund

USD 88.25 1.26 1.41%

The current 90-days correlation between Thornburg Value and Thornburg Value Fund is 0.14 (i.e., Average diversification). The correlation of Thornburg Value 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 Value Correlation With Market

Average diversification

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

0.96	TVRFX	Thornburg Value	Pair Corr
0.9	THCGX	Thornburg E Growth	Pair Corr
0.9	THCRX	Thornburg E Growth	Pair Corr
0.9	THGRX	Thornburg E Growth	Pair Corr

Moving against Thornburg Mutual Fund

0.58	THGIX	Thornburg International	Pair Corr
0.57	THIRX	Thornburg Limited Term	Pair Corr
0.57	THICX	Thornburg Limited Term	Pair Corr
0.55	THIFX	Thornburg Limited Term	Pair Corr
0.51	THIIX	Thornburg Limited Term	Pair Corr
0.44	THGCX	Thornburg International	Pair Corr
0.42	TGVAX	Thornburg International	Pair Corr
0.42	TGVRX	Thornburg International	Pair Corr
0.41	TGVIX	Thornburg International	Pair Corr
0.37	THNDX	Thornburg New Mexico	Pair Corr
0.35	TGIRX	Thornburg International	Pair Corr
0.35	THNMX	Thornburg New Mexico	Pair Corr
0.34	THNIX	Thornburg New Mexico	Pair Corr
0.68	LTUSX	Thornburg Limited Term	Pair Corr
0.67	LTGRX	Thornburg Limited Term	Pair Corr
0.67	LTUCX	Thornburg Limited Term	Pair Corr
0.67	LTUIX	Thornburg Limited Term	Pair Corr
0.66	LTURX	Thornburg Limited Term	Pair Corr
0.59	THRIX	Thornburg Limited Term	Pair Corr
0.58	TINFX	Thornburg International	Pair Corr
0.58	TINGX	Thornburg International	Pair Corr
0.57	TINVX	Thornburg International	Pair Corr
0.52	THRRX	Thornburg Limited Term	Pair Corr
0.5	THRLX	Thornburg Limited Term	Pair Corr

Related Correlations Analysis

	TVRRX	TVRFX	TGIRX	TGVAX	TGVIX	TGVRX	THCGX	THCRX	THDCX	THDAX
TVRRX		0.96	-0.35	-0.42	-0.41	-0.42	0.9	0.9	0.34	0.36	TVRRX
TVRFX	0.96		-0.39	-0.44	-0.43	-0.44	0.96	0.96	0.35	0.36	TVRFX
TGIRX	-0.35	-0.39		0.93	0.93	0.93	-0.24	-0.24	0.58	0.56	TGIRX
TGVAX	-0.42	-0.44	0.93		1.0	1.0	-0.3	-0.3	0.55	0.54	TGVAX
TGVIX	-0.41	-0.43	0.93	1.0		1.0	-0.29	-0.29	0.56	0.54	TGVIX
TGVRX	-0.42	-0.44	0.93	1.0	1.0		-0.3	-0.3	0.55	0.53	TGVRX
THCGX	0.9	0.96	-0.24	-0.3	-0.29	-0.3		1.0	0.47	0.49	THCGX
THCRX	0.9	0.96	-0.24	-0.3	-0.29	-0.3	1.0		0.47	0.49	THCRX
THDCX	0.34	0.35	0.58	0.55	0.56	0.55	0.47	0.47		1.0	THDCX
THDAX	0.36	0.36	0.56	0.54	0.54	0.53	0.49	0.49	1.0		THDAX
	TVRRX	TVRFX	TGIRX	TGVAX	TGVIX	TGVRX	THCGX	THCRX	THDCX	THDAX

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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

TGVIX	+ 1.0	TGVAX
TGVRX	+ 1.0	TGVAX
TGVRX	+ 1.0	TGVIX
THCRX	+ 1.0	THCGX
THDAX	+ 1.0	THDCX
TVRFX	+ 0.96	TVRRX

High negative correlations

TGVRX	- 0.44	TVRFX
TGVAX	- 0.44	TVRFX
TGVIX	- 0.43	TVRFX
TGVRX	- 0.42	TVRRX
TGVAX	- 0.42	TVRRX
TGVIX	- 0.41	TVRRX

Risk-Adjusted Indicators

There is a big difference between Thornburg Mutual Fund performing well and Thornburg Value 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 Value'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
TVRRX	0.85	0.15	0.05	0.94	0.78	(1.00)	2.12	(1.36)	6.14
TVRFX	0.85	0.04	0.08	0.15	0.77	(1.01)	2.12	(1.36)	6.14
TGIRX	0.64	(0.13)	0.00	1.15	0.00	0.00	1.40	(1.35)	4.31
TGVAX	0.64	(0.15)	0.00	(1.12)	0.00	0.00	1.41	(1.33)	7.23
TGVIX	0.63	(0.14)	0.00	(1.05)	0.00	0.00	1.39	(1.34)	6.99
TGVRX	0.63	(0.15)	0.00	(1.16)	0.00	0.00	1.42	(1.37)	7.17
THCGX	0.88	(0.03)	0.01	0.10	1.05	(0.84)	2.34	(2.08)	6.21
THCRX	0.88	(0.03)	0.01	0.10	1.06	(0.84)	2.36	(2.09)	6.21
THDCX	0.62	(0.03)	0.00	(0.07)	0.00	0.00	1.23	(1.38)	4.36
THDAX	0.62	(0.03)	(0.16)	(0.05)	0.78	(0.66)	1.25	(1.38)	4.34

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