Thornburg Core Correlations

Mutual Funds . USA . 
Fund . Thornburg Core Plus
THCAX Fund   10.50  0.05  0.48%   
The current 90-days correlation between Thornburg Core Plus and Vanguard Total Stock is -0.14 (i.e., Good diversification). The correlation of Thornburg Core 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 Core Correlation With Market

Good diversification

The correlation between Thornburg Core Plus and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg Core Plus and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios. 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

  0.63RBCUX Tax Exempt BondPairCorr
  0.87KO Coca Cola Aggressive PushPairCorr
  0.91MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.7PFE Pfizer Inc Aggressive PushPairCorr

Moving against Thornburg Mutual Fund

  0.85BDJ Blackrock Enhanced EquityPairCorr
  0.85CSCO Cisco Systems Sell-off TrendPairCorr
  0.77AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.75VTSAX Vanguard Total StockPairCorr
  0.75VFIAX Vanguard 500 IndexPairCorr
  0.75VTSMX Vanguard Total StockPairCorr
  0.75VITSX Vanguard Total StockPairCorr
  0.75VSTSX Vanguard Total StockPairCorr
  0.75VSMPX Vanguard Total StockPairCorr
  0.75VFINX Vanguard 500 IndexPairCorr
  0.75VFFSX Vanguard 500 IndexPairCorr
  0.69CII Blackrock EnhancedPairCorr
  0.69AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.81BAC Bank of America Aggressive PushPairCorr
  0.8CVX Chevron Corp Sell-off TrendPairCorr
  0.74HPQ HP IncPairCorr
  0.7TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.65DIS Walt Disney Sell-off TrendPairCorr
  0.65INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.59CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.58T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.47HD Home DepotPairCorr

Related Correlations Analysis

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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   
VFIAX
+ 1.0
VTSAX
VTSMX
+ 1.0
VTSAX
VITSX
+ 1.0
VTSAX
VSTSX
+ 1.0
VTSAX
VSMPX
+ 1.0
VTSAX
VFINX
+ 1.0
VTSAX
  
High negative correlations   
VTIAX
- 0.25
VSMPX
VGTSX
- 0.25
VSMPX
VTIAX
- 0.25
VSTSX
VGTSX
- 0.25
VSTSX
VTIAX
- 0.25
VITSX
VGTSX
- 0.25
VITSX

Risk-Adjusted Indicators

There is a big difference between Thornburg Mutual Fund performing well and Thornburg Core 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 Core'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
VTSAX  0.57  0.01  0.00  0.14  0.65 
(0.61)
 1.10 
(1.31)
 4.11 
VFIAX  0.55  0.01 (0.02) 0.14  0.65 
(0.56)
 1.17 
(1.31)
 3.84 
VTSMX  0.56  0.01  0.00  0.14  0.65 
(0.61)
 1.10 
(1.31)
 4.11 
VITSX  0.57  0.01  0.00  0.14  0.65 
(0.61)
 1.10 
(1.31)
 4.11 
VSTSX  0.57  0.01  0.00  0.14  0.65 
(0.61)
 1.10 
(1.31)
 4.11 
VSMPX  0.57  0.01  0.00  0.14  0.65 
(0.61)
 1.10 
(1.30)
 4.11 
VFINX  0.55  0.01 (0.02) 0.14  0.65 
(0.57)
 1.17 
(1.31)
 3.84 
VFFSX  0.55  0.01 (0.02) 0.14  0.65 
(0.56)
 1.17 
(1.31)
 3.84 
VGTSX  0.62 (0.09) 0.00 (0.08) 0.00 
 0.00 
 1.15 
(1.56)
 4.09 
VTIAX  0.62 (0.09) 0.00 (0.08) 0.00 
 0.00 
 1.15 
(1.59)
 4.11 

Thornburg Core Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Thornburg Core mutual fund to make a market-neutral strategy. Peer analysis of Thornburg Core could also be used in its relative valuation, which is a method of valuing Thornburg Core by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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