Thornburg New Correlations

Mutual Funds . USA . 
Fund . Thornburg New York
THNYX Fund  USD 11.93  0.01  0.08%   
The current 90-days correlation between Thornburg New York and Virtus Convertible is 0.11 (i.e., Average diversification). The correlation of Thornburg New 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 New Correlation With Market

Good diversification

The correlation between Thornburg New York and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg New York 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 New York. 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 manufacturing.

Moving together with Thornburg Mutual Fund

  0.66TVRRX Thornburg ValuePairCorr
  0.66TVRFX Thornburg ValuePairCorr
  0.76THIIX Thornburg Limited TermPairCorr
  0.72THIRX Thornburg Limited TermPairCorr
  0.77THIQX Thornburg Limited TermPairCorr
  0.74THNDX Thornburg New MexicoPairCorr
  0.64THNMX Thornburg New MexicoPairCorr
  0.74THMCX Thornburg IntermediatePairCorr
  0.9THMIX Thornburg IntermediatePairCorr
  0.75THRLX Thornburg Limited TermPairCorr
  0.75THRRX Thornburg Limited TermPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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