Thrivent Partner Correlations

TWAAX Fund

USD 10.87 0.13 1.21%

The current 90-days correlation between Thrivent Partner Wor and Invesco Global Health is 0.49 (i.e., Very weak diversification). The correlation of Thrivent Partner 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 Partner Correlation With Market

Very weak diversification

The correlation between Thrivent Partner Worldwide and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent Partner Worldwide 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 Partner Worldwide. 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

1.0	TWAIX	Thrivent Partner Wor	Pair Corr
0.62	AAINX	Thrivent Opportunity	Pair Corr
0.82	TLVOX	Thrivent Low Volatility	Pair Corr
0.73	LBIIX	Thrivent Income	Pair Corr
0.74	LUBIX	Thrivent Income	Pair Corr
0.72	TBFAX	Thrivent Government Bond	Pair Corr
0.72	TBFIX	Thrivent Government Bond	Pair Corr
0.61	IIINX	Thrivent Opportunity	Pair Corr

Moving against Thrivent Mutual Fund

0.56	TMCVX	Thrivent Mid Cap	Pair Corr
0.51	AASMX	Thrivent Small Cap	Pair Corr
0.51	AAUTX	Thrivent Large Cap	Pair Corr
0.51	TLVIX	Thrivent Large Cap	Pair Corr
0.51	TMCGX	Turner Emerging Growth	Pair Corr
0.42	AASCX	Thrivent Mid Cap	Pair Corr
0.42	TMSIX	Thrivent Mid Cap	Pair Corr
0.41	THLCX	Thrivent Large Cap	Pair Corr
0.41	AAAGX	Thrivent Large Cap	Pair Corr
0.35	TMAIX	Thrivent Moderate	Pair Corr
0.34	THMAX	Thrivent Moderate	Pair Corr
0.32	TMAFX	Thrivent Moderately	Pair Corr
0.32	TMAAX	Thrivent Moderately	Pair Corr
0.52	TSCGX	Thrivent Small Cap	Pair Corr
0.51	TSCSX	Thrivent Small Cap	Pair Corr
0.39	TAAAX	Thrivent Aggressive	Pair Corr
0.39	TAAIX	Thrivent Aggressive	Pair Corr

Related Correlations Analysis

	GGHYX	LYFAX	HHCZX	THQ	BGHDX	RAGHX	SBHIX
GGHYX		0.67	-0.75	0.76	0.82	0.99	0.84	GGHYX
LYFAX	0.67		-0.32	0.42	0.74	0.66	0.79	LYFAX
HHCZX	-0.75	-0.32		-0.37	-0.43	-0.73	-0.57	HHCZX
THQ	0.76	0.42	-0.37		0.83	0.78	0.4	THQ
BGHDX	0.82	0.74	-0.43	0.83		0.84	0.64	BGHDX
RAGHX	0.99	0.66	-0.73	0.78	0.84		0.83	RAGHX
SBHIX	0.84	0.79	-0.57	0.4	0.64	0.83		SBHIX
	GGHYX	LYFAX	HHCZX	THQ	BGHDX	RAGHX	SBHIX

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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

RAGHX	+ 0.99	GGHYX
SBHIX	+ 0.84	GGHYX
RAGHX	+ 0.84	BGHDX
BGHDX	+ 0.83	THQ
SBHIX	+ 0.83	RAGHX
BGHDX	+ 0.82	GGHYX

High negative correlations

HHCZX	- 0.75	GGHYX
RAGHX	- 0.73	HHCZX
SBHIX	- 0.57	HHCZX
BGHDX	- 0.43	HHCZX
THQ	- 0.37	HHCZX
HHCZX	- 0.32	LYFAX

Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent Partner 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 Partner'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
GGHYX	0.63	(0.17)	0.00	(0.16)	0.00	0.93	(1.30)	3.73
LYFAX	0.64	(0.12)	0.00	(0.07)	0.00	1.10	(1.65)	3.82
HHCZX	0.16	0.00	(0.46)	0.15	(0.19)	0.37	(0.31)	1.14
THQ	0.82	(0.10)	0.00	(0.02)	0.00	1.41	(1.67)	5.19
BGHDX	0.81	(0.13)	0.00	(0.09)	0.00	1.34	(1.69)	6.08
RAGHX	0.63	(0.17)	0.00	(0.11)	0.00	0.96	(1.37)	3.33
SBHIX	0.62	(0.15)	0.00	(0.14)	0.00	1.00	(1.27)	4.23

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