Thornburg Global Correlations

THOAX Fund

USD 37.96 0.24 0.63%

The current 90-days correlation between Thornburg Global Opp and Guidemark Smallmid Cap is 0.07 (i.e., Significant diversification). The correlation of Thornburg Global 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 Global Correlation With Market

Very weak diversification

The correlation between Thornburg Global Opportunities and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg Global Opportunities 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 Global Opportunities. 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 nation.

Moving together with Thornburg Mutual Fund

0.61	TGVIX	Thornburg International	Pair Corr
0.9	THDCX	Thornburg Developing	Pair Corr
0.9	THDAX	Thornburg Developing	Pair Corr
0.9	THDIX	Thornburg Developing	Pair Corr
0.9	THDRX	Thornburg Developing	Pair Corr
0.78	THOVX	Thornburg Global Opp	Pair Corr
0.85	THOIX	Thornburg Global Opp	Pair Corr
0.85	THOFX	Thornburg Global Opp	Pair Corr
0.82	THOCX	Thornburg Global Opp	Pair Corr
0.78	THORX	Thornburg Global Opp	Pair Corr

Related Correlations Analysis

	GMSMX	FRCSX	CCMSX	MSSGX	DFDSX	SCYVX	QUAIX
GMSMX		0.94	0.44	0.94	0.96	1.0	0.98	GMSMX
FRCSX	0.94		0.4	0.9	0.97	0.94	0.92	FRCSX
CCMSX	0.44	0.4		0.41	0.36	0.42	0.5	CCMSX
MSSGX	0.94	0.9	0.41		0.92	0.93	0.89	MSSGX
DFDSX	0.96	0.97	0.36	0.92		0.95	0.93	DFDSX
SCYVX	1.0	0.94	0.42	0.93	0.95		0.97	SCYVX
QUAIX	0.98	0.92	0.5	0.89	0.93	0.97		QUAIX
	GMSMX	FRCSX	CCMSX	MSSGX	DFDSX	SCYVX	QUAIX

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Risk-Adjusted Indicators

There is a big difference between Thornburg Mutual Fund performing well and Thornburg Global 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 Global'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
GMSMX	0.77	0.18	0.13	0.84	0.52	(0.90)	1.82	(1.19)	6.31
FRCSX	0.89	0.03	0.08	0.12	0.71	(1.04)	1.91	(1.45)	7.99
CCMSX	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.14
MSSGX	1.43	0.61	0.39	3.72	0.82	(1.83)	3.46	(1.71)	7.23
DFDSX	0.76	0.04	0.07	0.13	0.66	(0.88)	1.67	(1.30)	5.79
SCYVX	0.85	0.19	0.11	1.26	0.61	(1.02)	1.95	(1.44)	7.36
QUAIX	0.90	0.19	0.11	0.63	0.85	(1.00)	1.92	(1.95)	6.76

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Thornburg Global Correlations

Thornburg Global Correlation With Market

Very weak diversification

Moving together with Thornburg Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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