Thrivent Diversified Correlations

AAHYX Fund

USD 7.08 0.03 0.42%

The current 90-days correlation between Thrivent Diversified and Alpine Ultra Short is -0.18 (i.e., Good diversification). The correlation of Thrivent Diversified 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 Diversified Correlation With Market

Poor diversification

The correlation between Thrivent Diversified Income and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent Diversified Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Thrivent Diversified Income. 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 manufacturing.

Moving together with Thrivent Mutual Fund

0.7	TWAAX	Thrivent Partner Wor	Pair Corr
0.7	TWAIX	Thrivent Partner Wor	Pair Corr
0.67	THMBX	Thrivent High Income	Pair Corr
0.99	THYFX	Thrivent Diversified	Pair Corr
0.95	AABFX	Thrivent Balanced Income	Pair Corr
0.73	AAINX	Thrivent Opportunity	Pair Corr
0.77	AALGX	Thrivent Large Cap	Pair Corr
0.62	AAMBX	Thrivent Municipal Bond	Pair Corr
0.82	AAUTX	Thrivent Large Cap	Pair Corr
0.83	TLVIX	Thrivent Large Cap	Pair Corr
0.96	IBBFX	Thrivent Balanced Income	Pair Corr
0.62	TMBIX	Thrivent Municipal Bond	Pair Corr
0.85	LBHYX	Thrivent High Yield	Pair Corr
0.65	LBIIX	Thrivent Income	Pair Corr
0.82	LBHIX	Thrivent High Yield	Pair Corr
0.63	LUBIX	Thrivent Income	Pair Corr
0.73	IIINX	Thrivent Opportunity	Pair Corr
0.77	IILGX	Thrivent Large Cap	Pair Corr
0.91	TCAAX	Thrivent Moderately	Pair Corr
0.92	TCAIX	Thrivent Moderately	Pair Corr

Moving against Thrivent Mutual Fund

0.52

IIF

Morgan Stanley India

Pair Corr

Related Correlations Analysis

	ATOAX	AOUNX	DULTX	FMUUX	BXDCX	CDICX	BIIPX
ATOAX		0.98	0.99	0.97	0.96	0.92	0.95	ATOAX
AOUNX	0.98		0.99	0.98	0.99	0.97	0.98	AOUNX
DULTX	0.99	0.99		0.98	0.97	0.94	0.97	DULTX
FMUUX	0.97	0.98	0.98		0.97	0.96	0.97	FMUUX
BXDCX	0.96	0.99	0.97	0.97		0.97	0.98	BXDCX
CDICX	0.92	0.97	0.94	0.96	0.97		0.97	CDICX
BIIPX	0.95	0.98	0.97	0.97	0.98	0.97		BIIPX
	ATOAX	AOUNX	DULTX	FMUUX	BXDCX	CDICX	BIIPX

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Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent Diversified 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 Diversified'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
ATOAX	0.02	0.00	0.00	(0.06)	0.00	0.00	0.00	0.30
AOUNX	0.05	0.01	0.13	(0.47)	(0.19)	0.10	(0.10)	0.52
DULTX	0.04	0.01	0.00	(0.65)	0.00	0.10	0.00	0.51
FMUUX	0.03	0.00	0.00	(0.05)	0.00	0.10	0.00	0.40
BXDCX	0.08	0.01	0.11	(0.32)	(0.15)	0.22	(0.11)	0.54
CDICX	0.08	0.01	0.13	1.00	(0.12)	0.26	(0.13)	0.64
BIIPX	0.10	0.02	0.16	(0.82)	(0.14)	0.21	(0.10)	0.72

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