Thrivent Government Correlations

TBFAX Fund

USD 8.83 0.03 0.34%

The current 90-days correlation between Thrivent Government Bond and Calvert Conservative Allocation is 0.51 (i.e., Very weak diversification). The correlation of Thrivent Government 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.

Thrivent Government Correlation With Market

Good diversification

The correlation between Thrivent Government Bond and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent Government Bond 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 Thrivent Government Bond. 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 Thrivent Mutual Fund

0.72	TWAAX	Thrivent Partner Wor	Pair Corr
0.71	TWAIX	Thrivent Partner Wor	Pair Corr
0.61	THLIX	Thrivent Limited Maturity	Pair Corr
0.85	AAINX	Thrivent Opportunity	Pair Corr
0.61	AAMBX	Thrivent Municipal Bond	Pair Corr
0.81	TLVOX	Thrivent Low Volatility	Pair Corr
0.61	TMBIX	Thrivent Municipal Bond	Pair Corr
0.97	LBIIX	Thrivent Income	Pair Corr
0.97	LUBIX	Thrivent Income	Pair Corr
1.0	TBFIX	Thrivent Government Bond	Pair Corr
0.82	IIINX	Thrivent Opportunity	Pair Corr

Moving against Thrivent Mutual Fund

0.77	TMCVX	Thrivent Mid Cap	Pair Corr
0.75	AAUTX	Thrivent Large Cap	Pair Corr
0.75	TLVIX	Thrivent Large Cap	Pair Corr
0.74	THLCX	Thrivent Large Cap	Pair Corr
0.74	AAAGX	Thrivent Large Cap	Pair Corr
0.73	TMCGX	Turner Emerging Growth	Pair Corr
0.68	AASMX	Thrivent Small Cap	Pair Corr
0.66	AASCX	Thrivent Mid Cap	Pair Corr
0.66	TMSIX	Thrivent Mid Cap	Pair Corr
0.64	TMAFX	Thrivent Moderately	Pair Corr
0.64	TMAAX	Thrivent Moderately	Pair Corr
0.62	TMAIX	Thrivent Moderate	Pair Corr
0.61	THMAX	Thrivent Moderate	Pair Corr
0.58	AALGX	Thrivent Large Cap	Pair Corr
0.81	LSHUX	Horizon Spin Off Steady Growth	Pair Corr
0.81	LSHEX	Kinetics Spin Off Steady Growth	Pair Corr
0.79	SMPIX	Semiconductor Ultrasector	Pair Corr
0.78	SMPSX	Semiconductor Ultrasector	Pair Corr
0.69	TAAAX	Thrivent Aggressive	Pair Corr
0.69	TAAIX	Thrivent Aggressive	Pair Corr
0.68	TSCSX	Thrivent Small Cap	Pair Corr
0.66	TSCGX	Thrivent Small Cap	Pair Corr
0.59	IILGX	Thrivent Large Cap	Pair Corr

Related Correlations Analysis

	CFAIX	DTICX	HIIDX	HUDEX	OIDAX	MDBLX	EVFCX	JDJRX
CFAIX		0.72	0.66	0.09	0.58	0.75	0.92	0.7	CFAIX
DTICX	0.72		0.53	-0.37	0.53	0.87	0.63	0.45	DTICX
HIIDX	0.66	0.53		-0.15	0.95	0.55	0.56	0.81	HIIDX
HUDEX	0.09	-0.37	-0.15		-0.36	-0.52	0.36	-0.13	HUDEX
OIDAX	0.58	0.53	0.95	-0.36		0.63	0.38	0.77	OIDAX
MDBLX	0.75	0.87	0.55	-0.52	0.63		0.54	0.49	MDBLX
EVFCX	0.92	0.63	0.56	0.36	0.38	0.54		0.56	EVFCX
JDJRX	0.7	0.45	0.81	-0.13	0.77	0.49	0.56		JDJRX
	CFAIX	DTICX	HIIDX	HUDEX	OIDAX	MDBLX	EVFCX	JDJRX

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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

OIDAX	+ 0.95	HIIDX
EVFCX	+ 0.92	CFAIX
MDBLX	+ 0.87	DTICX
JDJRX	+ 0.81	HIIDX
JDJRX	+ 0.77	OIDAX
MDBLX	+ 0.75	CFAIX

High negative correlations

MDBLX	- 0.52	HUDEX
HUDEX	- 0.37	DTICX
OIDAX	- 0.36	HUDEX
HUDEX	- 0.15	HIIDX
JDJRX	- 0.13	HUDEX

Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent Government 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 Thrivent Government'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
CFAIX	0.24	(0.02)	(0.37)	0.05	0.24	(0.26)	0.44	(0.49)	1.26
DTICX	0.08	0.00	(0.80)	0.08	0.00	(0.15)	0.13	(0.13)	0.64
HIIDX	0.64	(0.10)	0.00	(0.06)	0.00	0.00	1.26	(1.49)	4.09
HUDEX	0.68	(0.06)	(0.06)	0.07	0.72	(0.74)	1.58	(1.15)	5.46
OIDAX	0.63	(0.15)	0.00	(0.14)	0.00	0.00	1.16	(1.50)	4.20
MDBLX	0.22	0.00	(0.39)	0.01	0.26	(0.26)	0.37	(0.60)	1.35
EVFCX	0.16	0.00	(0.49)	0.10	0.08	(0.22)	0.40	(0.31)	1.12
JDJRX	0.44	(0.07)	0.00	(0.06)	0.00	0.00	1.00	(0.89)	2.54

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