Thornburg Core Correlations

THIGX Fund

USD 38.14 0.22 0.58%

The current 90-days correlation between Thornburg E Growth and The Short Term is -0.09 (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

Very poor diversification

The correlation between Thornburg E Growth and DJI is 0.82 (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 price.

Moving together with Thornburg Mutual Fund

0.97	TVRRX	Thornburg Value	Pair Corr
0.97	TVRFX	Thornburg Value	Pair Corr
1.0	THCGX	Thornburg E Growth	Pair Corr
1.0	THCRX	Thornburg E Growth	Pair Corr
1.0	THGRX	Thornburg E Growth	Pair Corr

Moving against Thornburg Mutual Fund

0.62	THGIX	Thornburg International	Pair Corr
0.59	THIRX	Thornburg Limited Term	Pair Corr
0.59	THIFX	Thornburg Limited Term	Pair Corr
0.59	THICX	Thornburg Limited Term	Pair Corr
0.53	THGCX	Thornburg International	Pair Corr
0.51	TGVAX	Thornburg International	Pair Corr
0.51	TGVRX	Thornburg International	Pair Corr
0.5	TGIRX	Thornburg International	Pair Corr
0.5	TGVIX	Thornburg International	Pair Corr
0.36	THNDX	Thornburg New Mexico	Pair Corr
0.31	THNMX	Thornburg New Mexico	Pair Corr
0.31	THNIX	Thornburg New Mexico	Pair Corr
0.67	LTUCX	Thornburg Limited Term	Pair Corr
0.66	LTUGX	Thornburg Limited Term	Pair Corr
0.66	LTURX	Thornburg Limited Term	Pair Corr
0.65	LTGRX	Thornburg Limited Term	Pair Corr
0.65	LTUIX	Thornburg Limited Term	Pair Corr
0.63	TIGAX	Thornburg International	Pair Corr
0.63	TIGVX	Thornburg International	Pair Corr
0.63	TINVX	Thornburg International	Pair Corr
0.62	TINFX	Thornburg International	Pair Corr
0.62	TINGX	Thornburg International	Pair Corr

Related Correlations Analysis

	CFSTX	TSDCX	BBSCX	SUSAX	FTFZX	AOUNX
CFSTX		-0.24	0.9	-0.13	0.5	-0.17	CFSTX
TSDCX	-0.24		0.04	0.97	0.58	0.94	TSDCX
BBSCX	0.9	0.04		0.14	0.63	0.08	BBSCX
SUSAX	-0.13	0.97	0.14		0.62	0.98	SUSAX
FTFZX	0.5	0.58	0.63	0.62		0.59	FTFZX
AOUNX	-0.17	0.94	0.08	0.98	0.59		AOUNX
	CFSTX	TSDCX	BBSCX	SUSAX	FTFZX	AOUNX

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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

AOUNX	+ 0.98	SUSAX
SUSAX	+ 0.97	TSDCX
AOUNX	+ 0.94	TSDCX
BBSCX	+ 0.9	CFSTX
FTFZX	+ 0.63	BBSCX
FTFZX	+ 0.62	SUSAX

High negative correlations

TSDCX	- 0.24	CFSTX
AOUNX	- 0.17	CFSTX
SUSAX	- 0.13	CFSTX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CFSTX	0.08	0.00	(1.20)	0.08	(0.09)	0.12	(0.12)	0.50
TSDCX	0.06	0.01	(1.02)	(0.63)	(0.16)	0.11	(0.11)	0.55
BBSCX	0.08	0.00	(0.88)	0.35	(0.16)	0.24	(0.12)	0.60
SUSAX	0.06	0.01	(1.13)	(0.61)	(0.15)	0.10	(0.10)	0.51
FTFZX	0.07	0.01	(0.65)	(0.17)	(0.13)	0.19	(0.10)	0.68
AOUNX	0.06	0.01	(1.07)	(3.41)	(0.20)	0.10	(0.10)	0.61

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