Thornburg Limited Correlations

THRIX Fund

USD 13.00 0.02 0.15%

The correlation of Thornburg Limited 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 Limited Correlation With Market

Modest diversification

The correlation between Thornburg Limited Term and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg Limited Term 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 Limited Term. 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.

Moving together with Thornburg Mutual Fund

0.8	TGIRX	Thornburg International	Pair Corr
0.81	TGVAX	Thornburg International	Pair Corr
0.81	TGVIX	Thornburg International	Pair Corr
0.81	TGVRX	Thornburg International	Pair Corr
0.94	THCAX	Thornburg Core Plus	Pair Corr
0.81	THGCX	Thornburg International	Pair Corr
0.85	THIMX	Thornburg Intermediate	Pair Corr
1.0	THIIX	Thornburg Limited Term	Pair Corr
0.93	THIRX	Thornburg Limited Term	Pair Corr
1.0	THIQX	Thornburg Limited Term	Pair Corr
1.0	THIFX	Thornburg Limited Term	Pair Corr
1.0	THICX	Thornburg Limited Term	Pair Corr
0.84	THMQX	Thornburg Intermediate	Pair Corr
0.85	THNDX	Thornburg New Mexico	Pair Corr
0.86	THNMX	Thornburg New Mexico	Pair Corr
0.86	THNIX	Thornburg New Mexico	Pair Corr
0.85	THMCX	Thornburg Intermediate	Pair Corr
0.84	THMIX	Thornburg Intermediate	Pair Corr
0.68	THOVX	Thornburg Global Opp	Pair Corr
0.82	THNYX	Thornburg New York	Pair Corr
0.68	THOAX	Thornburg Global Opp	Pair Corr
0.68	THOIX	Thornburg Global Opp	Pair Corr
0.75	THOGX	Thornburg Global Opp	Pair Corr
0.75	THOFX	Thornburg Global Opp	Pair Corr
0.68	THOCX	Thornburg Global Opp	Pair Corr
0.68	THORX	Thornburg Global Opp	Pair Corr
1.0	THRLX	Thornburg Limited Term	Pair Corr

Moving against Thornburg Mutual Fund

0.62	THCGX	Thornburg E Growth	Pair Corr
0.62	THCRX	Thornburg E Growth	Pair Corr
0.61	THGRX	Thornburg E Growth	Pair Corr
0.61	THIGX	Thornburg E Growth	Pair Corr
0.54	TVRRX	Thornburg Value	Pair Corr
0.54	TVRFX	Thornburg Value	Pair Corr
0.63	THMGX	Thornburg Investment	Pair Corr

Related Correlations Analysis

	SMGXX	MMZQX	FCSCX	GFAXX	NSIOX	RGVCX	BBINX
SMGXX		0.0	0.0	0.0	0.0	0.0	0.0	SMGXX
MMZQX	0.0		0.7	0.0	0.78	0.69	0.78	MMZQX
FCSCX	0.0	0.7		0.0	0.63	0.82	0.67	FCSCX
GFAXX	0.0	0.0	0.0		0.0	0.0	0.0	GFAXX
NSIOX	0.0	0.78	0.63	0.0		0.89	0.99	NSIOX
RGVCX	0.0	0.69	0.82	0.0	0.89		0.91	RGVCX
BBINX	0.0	0.78	0.67	0.0	0.99	0.91		BBINX
	SMGXX	MMZQX	FCSCX	GFAXX	NSIOX	RGVCX	BBINX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

BBINX	+ 0.99	NSIOX
BBINX	+ 0.91	RGVCX
RGVCX	+ 0.89	NSIOX
RGVCX	+ 0.82	FCSCX
NSIOX	+ 0.78	MMZQX
BBINX	+ 0.78	MMZQX

High negative correlations

BBINX	- 0.0	GFAXX
RGVCX	- 0.0	GFAXX
NSIOX	- 0.0	GFAXX
GFAXX	- 0.0	FCSCX
GFAXX	- 0.0	MMZQX
BBINX	- 0.0	SMGXX

Risk-Adjusted Indicators

There is a big difference between Thornburg Mutual Fund performing well and Thornburg Limited 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 Limited'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
SMGXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MMZQX	0.08	(0.01)	0.50	(0.32)	0.11	(0.12)	0.20	(0.30)	0.51
FCSCX	0.06	0.01	0.82	0.41	0.00	(0.19)	0.13	(0.13)	0.66
GFAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NSIOX	0.19	(0.02)	0.00	(0.59)	0.00	0.00	0.41	(0.50)	1.21
RGVCX	0.25	0.00	0.33	(0.05)	0.27	(0.31)	0.51	(0.42)	1.38
BBINX	0.14	(0.02)	0.00	(0.66)	0.00	0.00	0.29	(0.30)	0.78

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