Thrivent Opportunity Correlations

IIINX Fund

USD 9.05 0.02 0.22%

The current 90-days correlation between Thrivent Opportunity and Rbb Fund is -0.06 (i.e., Good diversification). The correlation of Thrivent Opportunity 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 Opportunity Correlation With Market

Modest diversification

The correlation between Thrivent Opportunity Income and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent Opportunity 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 Opportunity 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 board of governors.

Moving together with Thrivent Mutual Fund

0.92	TWAAX	Thrivent Partner Wor	Pair Corr
0.92	TWAIX	Thrivent Partner Wor	Pair Corr
0.96	THLIX	Thrivent Limited Maturity	Pair Corr
0.76	THMBX	Thrivent High Income	Pair Corr
0.75	THYFX	Thrivent Diversified	Pair Corr
1.0	AAINX	Thrivent Opportunity	Pair Corr
0.73	AAHYX	Thrivent Diversified	Pair Corr
0.91	LBHYX	Thrivent High Yield	Pair Corr
0.97	LBIIX	Thrivent Income	Pair Corr
0.89	LBHIX	Thrivent High Yield	Pair Corr
0.96	LBLAX	Thrivent Limited Maturity	Pair Corr
0.96	LUBIX	Thrivent Income	Pair Corr
0.94	TBFAX	Thrivent Government Bond	Pair Corr
0.95	TBFIX	Thrivent Government Bond	Pair Corr

Moving against Thrivent Mutual Fund

0.65	AASMX	Thrivent Small Cap	Pair Corr
0.55	THLCX	Thrivent Large Cap	Pair Corr
0.54	AAAGX	Thrivent Large Cap	Pair Corr
0.47	TMCGX	Turner Emerging Growth	Pair Corr
0.44	AASCX	Thrivent Mid Cap	Pair Corr
0.43	TMSIX	Thrivent Mid Cap	Pair Corr
0.31	TMCVX	Thrivent Mid Cap	Pair Corr
0.78	SMPIX	Semiconductor Ultrasector	Pair Corr
0.65	TSCSX	Thrivent Small Cap	Pair Corr
0.61	TSCGX	Thrivent Small Cap	Pair Corr

Related Correlations Analysis

	OPTCX	WABMSX	FTUFOX	ABVCX	FSULTX	FZDAQX	RTIUX	IAADX
OPTCX		0.04	0.37	0.14	0.42	0.26	0.78	0.76	OPTCX
WABMSX	0.04		0.09	0.87	0.11	0.57	0.33	0.28	WABMSX
FTUFOX	0.37	0.09		-0.1	0.96	0.57	0.64	0.73	FTUFOX
ABVCX	0.14	0.87	-0.1		-0.06	0.52	0.27	0.25	ABVCX
FSULTX	0.42	0.11	0.96	-0.06		0.6	0.65	0.73	FSULTX
FZDAQX	0.26	0.57	0.57	0.52	0.6		0.42	0.47	FZDAQX
RTIUX	0.78	0.33	0.64	0.27	0.65	0.42		0.94	RTIUX
IAADX	0.76	0.28	0.73	0.25	0.73	0.47	0.94		IAADX
	OPTCX	WABMSX	FTUFOX	ABVCX	FSULTX	FZDAQX	RTIUX	IAADX

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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

FSULTX	+ 0.96	FTUFOX
IAADX	+ 0.94	RTIUX
ABVCX	+ 0.87	WABMSX
RTIUX	+ 0.78	OPTCX
IAADX	+ 0.76	OPTCX
IAADX	+ 0.73	FTUFOX

High negative correlations

ABVCX	- 0.1	FTUFOX
FSULTX	- 0.06	ABVCX

Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent Opportunity 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 Opportunity'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
OPTCX	0.06	0.00	0.00	2.45	0.06	(0.18)	0.21	(0.21)	0.93
WABMSX	0.60	0.03	0.04	0.04	0.78	(0.61)	1.38	(1.29)	3.66
FTUFOX	0.10	0.00	0.03	0.09	0.04	(0.10)	0.20	(0.19)	0.60
ABVCX	0.65	0.02	0.03	0.02	0.82	(0.66)	1.38	(1.38)	3.68
FSULTX	0.28	0.00	0.01	1.60	0.36	(0.29)	0.56	(0.49)	1.75
FZDAQX	0.11	(0.01)	(0.03)	(0.09)	0.19	(0.15)	0.21	(0.21)	1.03
RTIUX	0.59	0.11	0.13	0.20	0.62	(0.65)	1.47	(1.41)	5.02
IAADX	0.19	0.01	0.06	(0.60)	0.15	(0.25)	0.45	(0.34)	0.90

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