Thornburg International Correlations

Mutual Funds . USA . 
Fund . Thornburg International Value
THGCX Fund  USD 23.01  0.15  0.66%   
The current 90-days correlation between Thornburg International and Highland Longshort Healthcare is 0.21 (i.e., Modest diversification). The correlation of Thornburg International 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 International Correlation With Market

Average diversification

The correlation between Thornburg International Value and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg International Value 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 International Value. 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

  1.0TGIRX Thornburg InternationalPairCorr
  1.0TGVAX Thornburg InternationalPairCorr
  1.0TGVIX Thornburg InternationalPairCorr
  1.0TGVRX Thornburg InternationalPairCorr
  0.61THDIX Thornburg DevelopingPairCorr
  0.61THDRX Thornburg DevelopingPairCorr
  0.91THGIX Thornburg InternationalPairCorr
  0.62THIMX Thornburg IntermediatePairCorr
  0.75THIIX Thornburg Limited TermPairCorr
  0.75THIRX Thornburg Limited TermPairCorr
  0.74THIQX Thornburg Limited TermPairCorr
  0.75THIFX Thornburg Limited TermPairCorr
  0.74THICX Thornburg Limited TermPairCorr
  0.63THNDX Thornburg New MexicoPairCorr
  0.66THNMX Thornburg New MexicoPairCorr
  0.66THNIX Thornburg New MexicoPairCorr
  0.62THMIX Thornburg IntermediatePairCorr
  0.91THOVX Thornburg Global OppPairCorr
  0.91THOAX Thornburg Global OppPairCorr
  0.91THOIX Thornburg Global OppPairCorr
  0.91THOGX Thornburg Global OppPairCorr
  0.91THOFX Thornburg Global OppPairCorr
  0.91THOCX Thornburg Global OppPairCorr
  0.91THORX Thornburg Global OppPairCorr
  0.76THRLX Thornburg Limited TermPairCorr
  0.75THRIX Thornburg Limited TermPairCorr
  0.75THRRX Thornburg Limited TermPairCorr

Moving against Thornburg Mutual Fund

  0.35THMGX Thornburg InvestmentPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Thornburg Mutual Fund performing well and Thornburg International 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 International'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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