Thornburg Developing Correlations

THDCX Fund

USD 19.80 0.10 0.50%

The current 90-days correlation between Thornburg Developing and Mesirow Financial Small is 0.4 (i.e., Very weak diversification). The correlation of Thornburg Developing 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.

Thornburg Developing Correlation With Market

Average diversification

The correlation between Thornburg Developing World and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg Developing World 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 Thornburg Developing World. 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 main economic indicators.

Moving together with Thornburg Mutual Fund

1.0	THDAX	Thornburg Developing	Pair Corr
1.0	THDIX	Thornburg Developing	Pair Corr
0.93	THDRX	Thornburg Developing	Pair Corr
0.76	THGIX	Thornburg International	Pair Corr
0.61	THMQX	Thornburg Intermediate	Pair Corr
0.61	THNDX	Thornburg New Mexico	Pair Corr
0.62	THMCX	Thornburg Intermediate	Pair Corr
0.61	THMIX	Thornburg Intermediate	Pair Corr
0.63	THNYX	Thornburg New York	Pair Corr

Related Correlations Analysis

	MSVIX	PGFMX	BTO	ICFAX	IAAEX	FIDAX
MSVIX		0.49	0.78	0.63	0.88	0.92	MSVIX
PGFMX	0.49		0.68	0.29	0.53	0.67	PGFMX
BTO	0.78	0.68		0.58	0.59	0.8	BTO
ICFAX	0.63	0.29	0.58		0.57	0.67	ICFAX
IAAEX	0.88	0.53	0.59	0.57		0.92	IAAEX
FIDAX	0.92	0.67	0.8	0.67	0.92		FIDAX
	MSVIX	PGFMX	BTO	ICFAX	IAAEX	FIDAX

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Risk-Adjusted Indicators

There is a big difference between Thornburg Mutual Fund performing well and Thornburg Developing 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 Thornburg Developing'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
MSVIX	0.84	(0.20)	0.00	(0.32)	0.00	0.00	1.35	(1.74)	12.25
PGFMX	0.35	0.00	0.12	(0.08)	0.48	(0.38)	0.78	(0.57)	2.76
BTO	0.96	(0.08)	0.00	(0.15)	0.00	0.00	2.31	(1.94)	6.36
ICFAX	0.89	(0.21)	0.00	(0.35)	0.00	0.00	1.12	(2.10)	15.89
IAAEX	0.66	(0.15)	0.00	(5.49)	0.00	0.00	1.10	(1.08)	9.17
FIDAX	0.81	(0.11)	0.00	(0.19)	0.00	0.00	1.26	(1.85)	7.64

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Thornburg Developing Correlations

Thornburg Developing Correlation With Market

Average diversification

Moving together with Thornburg Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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