Thrivent Government Correlations

TBFIX Fund

USD 8.82 0.01 0.11%

The current 90-days correlation between Thrivent Government Bond and American Century Diversified is 0.95 (i.e., Almost no diversification). The correlation of Thrivent Government 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 Government Correlation With Market

Very good diversification

The correlation between Thrivent Government Bond and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent Government Bond and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Thrivent Government 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 gross domestic product.

Moving together with Thrivent Mutual Fund

0.83	TWAAX	Thrivent Partner Wor	Pair Corr
0.83	TWAIX	Thrivent Partner Wor	Pair Corr
0.93	THLIX	Thrivent Limited Maturity	Pair Corr
0.68	THMBX	Thrivent High Income	Pair Corr
0.91	AAINX	Thrivent Opportunity	Pair Corr
0.7	LBHYX	Thrivent High Yield	Pair Corr
0.94	LBIIX	Thrivent Income	Pair Corr
0.69	LBHIX	Thrivent High Yield	Pair Corr
0.93	LBLAX	Thrivent Limited Maturity	Pair Corr
0.94	LUBIX	Thrivent Income	Pair Corr
0.96	TBFAX	Thrivent Government Bond	Pair Corr
0.9	IIINX	Thrivent Opportunity	Pair Corr

Moving against Thrivent Mutual Fund

0.84	AASMX	Thrivent Small Cap	Pair Corr
0.77	THLCX	Thrivent Large Cap	Pair Corr
0.77	AAAGX	Thrivent Large Cap	Pair Corr
0.72	TMCGX	Turner Emerging Growth	Pair Corr
0.69	AASCX	Thrivent Mid Cap	Pair Corr
0.69	TMSIX	Thrivent Mid Cap	Pair Corr
0.64	TMCVX	Thrivent Mid Cap	Pair Corr
0.44	TMAAX	Thrivent Moderately	Pair Corr
0.43	THMAX	Thrivent Moderate	Pair Corr
0.43	TMAFX	Thrivent Moderately	Pair Corr
0.42	TMAIX	Thrivent Moderate	Pair Corr
0.84	TSCSX	Thrivent Small Cap	Pair Corr
0.82	TSCGX	Thrivent Small Cap	Pair Corr
0.56	TAAAX	Thrivent Aggressive	Pair Corr
0.55	TAAIX	Thrivent Aggressive	Pair Corr

Related Correlations Analysis

	ACDOX	CDBCX	MDBLX	SRDAX	MDVSX	QDARX	MBLAX
ACDOX		0.96	0.96	-0.43	0.23	0.89	0.52	ACDOX
CDBCX	0.96		0.99	-0.42	0.29	0.88	0.61	CDBCX
MDBLX	0.96	0.99		-0.39	0.29	0.91	0.59	MDBLX
SRDAX	-0.43	-0.42	-0.39		0.19	-0.21	-0.01	SRDAX
MDVSX	0.23	0.29	0.29	0.19		0.31	0.89	MDVSX
QDARX	0.89	0.88	0.91	-0.21	0.31		0.55	QDARX
MBLAX	0.52	0.61	0.59	-0.01	0.89	0.55		MBLAX
	ACDOX	CDBCX	MDBLX	SRDAX	MDVSX	QDARX	MBLAX

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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

MDBLX	+ 0.99	CDBCX
CDBCX	+ 0.96	ACDOX
MDBLX	+ 0.96	ACDOX
QDARX	+ 0.91	MDBLX
QDARX	+ 0.89	ACDOX
MBLAX	+ 0.89	MDVSX

High negative correlations

SRDAX	- 0.43	ACDOX
SRDAX	- 0.42	CDBCX
SRDAX	- 0.39	MDBLX
QDARX	- 0.21	SRDAX
MBLAX	- 0.01	SRDAX

Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent Government 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 Government'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
ACDOX	0.25	0.01	0.02	(0.09)	0.24	(0.30)	0.55	(0.44)	1.46
CDBCX	0.24	0.01	0.01	0.20	0.24	(0.29)	0.56	(0.44)	1.34
MDBLX	0.23	0.01	0.04	0.26	0.18	(0.30)	0.50	(0.38)	1.38
SRDAX	0.17	0.00	0.00	0.00	0.18	(0.20)	0.29	(0.37)	0.76
MDVSX	0.65	0.02	0.02	0.03	0.90	(0.69)	1.34	(1.43)	3.79
QDARX	0.08	0.03	0.26	1.92	0.00	(0.13)	0.25	(0.08)	0.49
MBLAX	0.27	(0.01)	(0.02)	(0.02)	0.35	(0.30)	0.62	(0.54)	1.51

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