Thrivent High Correlations

Mutual Funds . USA . 
Fund . Thrivent High Yield
LBHIX Fund  USD 4.22  0.01  0.24%   
The current 90-days correlation between Thrivent High Yield and Thrivent Limited Maturity is 0.45 (i.e., Very weak diversification). The correlation of Thrivent High 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 High Correlation With Market

Modest diversification

The correlation between Thrivent High Yield and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent High Yield and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Thrivent High Yield. 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 gross domestic product.

Moving together with Thrivent Mutual Fund

  0.82TWAAX Thrivent Partner WorPairCorr
  0.82TWAIX Thrivent Partner WorPairCorr
  0.82THLIX Thrivent Limited MaturityPairCorr
  0.73THMBX Thrivent High IncomePairCorr
  0.78THYFX Thrivent DiversifiedPairCorr
  0.65AABFX Thrivent Balanced IncomePairCorr
  0.89AAINX Thrivent OpportunityPairCorr
  0.78AAHYX Thrivent DiversifiedPairCorr
  0.63AAUTX Thrivent Large CapPairCorr
  0.63TLVIX Thrivent Large CapPairCorr
  0.67IBBFX Thrivent Balanced IncomePairCorr
  0.99LBHYX Thrivent High YieldPairCorr
  0.75LBIIX Thrivent IncomePairCorr
  0.83LBLAX Thrivent Limited MaturityPairCorr
  0.74LUBIX Thrivent IncomePairCorr
  0.7TBFAX Thrivent Government BondPairCorr
  0.72TBFIX Thrivent Government BondPairCorr
  0.89IIINX Thrivent OpportunityPairCorr

Moving against Thrivent Mutual Fund

  0.37AASMX Thrivent Small CapPairCorr
  0.37TSCSX Thrivent Small CapPairCorr

Related Correlations Analysis

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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   
IIINX
+ 0.96
LBIIX
IIINX
+ 0.95
THLIX
LBIIX
+ 0.91
THLIX
THLCX
+ 0.47
TLVIX
IIINX
+ 0.37
TLVIX
TLVIX
+ 0.19
LBIIX
  
High negative correlations   
THLCX
- 0.72
THLIX
THLCX
- 0.61
LBIIX
IIINX
- 0.53
THLCX

Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent High 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 High'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.

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