Thrivent Municipal Correlations

AAMBX Fund

USD 10.13 0.02 0.20%

The current 90-days correlation between Thrivent Municipal Bond and Vanguard Short Term Government is 0.51 (i.e., Very weak diversification). The correlation of Thrivent Municipal 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 Municipal Correlation With Market

Average diversification

The correlation between Thrivent Municipal Bond and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent Municipal Bond 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 Municipal Bond. 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 bureau of labor statistics.

Moving together with Thrivent Mutual Fund

0.96	THMBX	Thrivent High Income	Pair Corr
0.69	THYFX	Thrivent Diversified	Pair Corr
0.68	AAHYX	Thrivent Diversified	Pair Corr
1.0	TMBIX	Thrivent Municipal Bond	Pair Corr
0.65	LBIIX	Thrivent Income	Pair Corr
0.65	LUBIX	Thrivent Income	Pair Corr
0.61	IIINX	Thrivent Opportunity	Pair Corr

Related Correlations Analysis

	VSBIX	UGSDX	FHNFX	CGTCX	GSOIX	CGTFX	RFBAX	FCSCX
VSBIX		0.87	0.93	0.94	0.93	0.94	0.96	0.98	VSBIX
UGSDX	0.87		0.7	0.72	0.69	0.72	0.82	0.9	UGSDX
FHNFX	0.93	0.7		1.0	1.0	1.0	0.93	0.9	FHNFX
CGTCX	0.94	0.72	1.0		1.0	1.0	0.93	0.91	CGTCX
GSOIX	0.93	0.69	1.0	1.0		1.0	0.93	0.9	GSOIX
CGTFX	0.94	0.72	1.0	1.0	1.0		0.94	0.92	CGTFX
RFBAX	0.96	0.82	0.93	0.93	0.93	0.94		0.95	RFBAX
FCSCX	0.98	0.9	0.9	0.91	0.9	0.92	0.95		FCSCX
	VSBIX	UGSDX	FHNFX	CGTCX	GSOIX	CGTFX	RFBAX	FCSCX

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Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent Municipal 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 Municipal'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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
VSBIX	0.06	0.01	0.94	6.53	0.00	(0.08)	0.16	(0.12)	0.33
UGSDX	0.03	0.00	0.00	(0.24)	0.00	0.00	0.00	0.00	0.52
FHNFX	0.23	0.02	0.28	0.83	0.21	(0.26)	0.55	(0.44)	1.23
CGTCX	0.25	0.02	0.26	0.39	0.25	(0.29)	0.61	(0.43)	1.56
GSOIX	0.24	0.02	0.28	0.45	0.22	(0.28)	0.62	(0.46)	1.42
CGTFX	0.25	0.02	0.28	0.51	0.24	(0.29)	0.60	(0.43)	1.55
RFBAX	0.09	0.01	0.40	(1.78)	0.00	(0.24)	0.20	(0.20)	0.59
FCSCX	0.06	0.01	0.58	0.55	0.00	(0.18)	0.13	(0.13)	0.66

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Thrivent Municipal Correlations

Thrivent Municipal Correlation With Market

Average diversification

Moving together with Thrivent Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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