| THDIX Fund | | | USD 23.09 0.07 0.30% |
The current 90-days correlation between Thornburg Developing and Fidelity Sai Convertible is -0.13 (i.e., Good 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 0.11 (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 gross domestic product.