Thornburg Core Correlations

Mutual Funds . USA . 
Fund . Thornburg E Growth
THCRX Fund  USD 31.97  0.15  0.47%   
The current 90-days correlation between Thornburg E Growth and Ab Discovery Value is 0.84 (i.e., Very poor 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

Very poor diversification

The correlation between Thornburg E Growth and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg E Growth 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 E Growth. 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

  0.97TVRRX Thornburg ValuePairCorr
  0.97TVRFX Thornburg ValuePairCorr
  1.0THCGX Thornburg E GrowthPairCorr
  1.0THGRX Thornburg E GrowthPairCorr
  1.0THIGX Thornburg E GrowthPairCorr

Moving against Thornburg Mutual Fund

  0.61THIRX Thornburg Limited TermPairCorr
  0.61THICX Thornburg Limited TermPairCorr
  0.6THIFX Thornburg Limited TermPairCorr
  0.59THGIX Thornburg InternationalPairCorr
  0.5THGCX Thornburg InternationalPairCorr
  0.48TGVAX Thornburg InternationalPairCorr
  0.48TGVRX Thornburg InternationalPairCorr
  0.47TGIRX Thornburg InternationalPairCorr
  0.47TGVIX Thornburg InternationalPairCorr
  0.39THNDX Thornburg New MexicoPairCorr
  0.34THNMX Thornburg New MexicoPairCorr
  0.34THNIX Thornburg New MexicoPairCorr
  0.68LTUCX Thornburg Limited TermPairCorr
  0.67LTUGX Thornburg Limited TermPairCorr
  0.67LTURX Thornburg Limited TermPairCorr
  0.66LTGRX Thornburg Limited TermPairCorr
  0.66LTUIX Thornburg Limited TermPairCorr
  0.6TIGAX Thornburg InternationalPairCorr
  0.6TIGVX Thornburg InternationalPairCorr
  0.6TINVX Thornburg InternationalPairCorr
  0.6TINFX Thornburg InternationalPairCorr
  0.6TINGX Thornburg InternationalPairCorr

Related Correlations Analysis

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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.

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