Thrivent Balanced Correlations

IBBFX Fund

USD 14.39 0.05 0.35%

The current 90-days correlation between Thrivent Balanced Income and Astor Longshort Fund is 0.9 (i.e., Almost no diversification). The correlation of Thrivent Balanced 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 Balanced Correlation With Market

Poor diversification

The correlation between Thrivent Balanced Income and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent Balanced Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Thrivent Balanced 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 census.

Moving together with Thrivent Mutual Fund

0.71	THLCX	Thrivent Large Cap	Pair Corr
0.83	THMAX	Thrivent Moderate	Pair Corr
0.93	THYFX	Thrivent Diversified	Pair Corr
0.71	AAAGX	Thrivent Large Cap	Pair Corr
1.0	AABFX	Thrivent Balanced Income	Pair Corr
0.9	AAHYX	Thrivent Diversified	Pair Corr
0.85	AALGX	Thrivent Large Cap	Pair Corr
0.74	AASCX	Thrivent Mid Cap	Pair Corr
0.68	AASMX	Thrivent Small Cap	Pair Corr
0.68	AAUTX	Thrivent Large Cap	Pair Corr
0.68	TLVIX	Thrivent Large Cap	Pair Corr
0.83	TMAIX	Thrivent Moderate	Pair Corr
0.82	TMAFX	Thrivent Moderately	Pair Corr
0.82	TMAAX	Thrivent Moderately	Pair Corr
0.65	TMCVX	Thrivent Mid Cap	Pair Corr
0.7	TMCGX	Turner Emerging Growth	Pair Corr
0.74	TMSIX	Thrivent Mid Cap	Pair Corr
0.79	LBHYX	Thrivent High Yield	Pair Corr
0.77	LBHIX	Thrivent High Yield	Pair Corr
0.77	TAAAX	Thrivent Aggressive	Pair Corr
0.77	TAAIX	Thrivent Aggressive	Pair Corr
0.68	TSCGX	Thrivent Small Cap	Pair Corr
0.68	TSCSX	Thrivent Small Cap	Pair Corr
0.85	IILGX	Thrivent Large Cap	Pair Corr

Related Correlations Analysis

	ASTIX	GTLSX	CWFIX	QNZIX	FULIX	BBSCX	BXDCX	CFSTX
ASTIX		0.85	0.86	0.91	0.72	-0.16	0.57	-0.32	ASTIX
GTLSX	0.85		0.74	0.75	0.63	-0.16	0.38	-0.39	GTLSX
CWFIX	0.86	0.74		0.88	0.81	0.27	0.8	0.09	CWFIX
QNZIX	0.91	0.75	0.88		0.66	0.1	0.66	-0.03	QNZIX
FULIX	0.72	0.63	0.81	0.66		0.25	0.84	-0.04	FULIX
BBSCX	-0.16	-0.16	0.27	0.1	0.25		0.6	0.91	BBSCX
BXDCX	0.57	0.38	0.8	0.66	0.84	0.6		0.41	BXDCX
CFSTX	-0.32	-0.39	0.09	-0.03	-0.04	0.91	0.41		CFSTX
	ASTIX	GTLSX	CWFIX	QNZIX	FULIX	BBSCX	BXDCX	CFSTX

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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

QNZIX	+ 0.91	ASTIX
CFSTX	+ 0.91	BBSCX
QNZIX	+ 0.88	CWFIX
CWFIX	+ 0.86	ASTIX
GTLSX	+ 0.85	ASTIX
BXDCX	+ 0.84	FULIX

High negative correlations

CFSTX	- 0.39	GTLSX
CFSTX	- 0.32	ASTIX
BBSCX	- 0.16	GTLSX
BBSCX	- 0.16	ASTIX
CFSTX	- 0.04	FULIX
CFSTX	- 0.03	QNZIX

Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent Balanced 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 Balanced'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
ASTIX	0.28	0.01	(0.14)	0.14	0.26	(0.31)	0.57	(0.64)	1.79
GTLSX	0.31	0.01	(0.17)	0.15	0.22	(0.37)	0.71	(0.50)	2.57
CWFIX	0.07	0.00	(0.85)	0.19	0.00	(0.12)	0.21	(0.11)	0.42
QNZIX	0.59	(0.02)	(0.06)	0.09	0.71	(0.61)	1.06	(1.07)	3.72
FULIX	0.05	0.01	(0.74)	(0.28)	0.00	(0.22)	0.11	(0.11)	0.65
BBSCX	0.08	0.00	(0.79)	0.39	0.00	(0.16)	0.24	(0.12)	0.60
BXDCX	0.09	0.01	(0.81)	(0.43)	0.00	(0.16)	0.22	(0.11)	0.65
CFSTX	0.07	0.00	(1.10)	0.18	0.02	(0.09)	0.12	(0.12)	0.50

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