Thornburg Investment Correlations

Mutual Funds . USA . 
Fund . Thornburg Investment Income
TIBGX Fund  USD 27.83  0.04  0.14%   
The current 90-days correlation between Thornburg Investment and Thornburg Investment Income is 1.0 (i.e., No risk reduction). The correlation of Thornburg Investment 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 Investment Correlation With Market

Very weak diversification

The correlation between Thornburg Investment Income and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg Investment Income 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 Investment Income. 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 price.

Moving together with Thornburg Mutual Fund

  0.94TGIRX Thornburg InternationalPairCorr
  0.94TGVAX Thornburg InternationalPairCorr
  0.94TGVIX Thornburg InternationalPairCorr
  0.94TGVRX Thornburg InternationalPairCorr
  0.82THCAX Thornburg Core PlusPairCorr
  0.82THCHX Thornburg Core PlusPairCorr
  0.62THGIX Thornburg InternationalPairCorr
  0.94THGCX Thornburg InternationalPairCorr
  0.74THIMX Thornburg IntermediatePairCorr
  0.88THIIX Thornburg Limited TermPairCorr
  0.87THIRX Thornburg Limited TermPairCorr
  0.87THIQX Thornburg Limited TermPairCorr
  0.88THIFX Thornburg Limited TermPairCorr
  0.87THICX Thornburg Limited TermPairCorr
  0.72THMQX Thornburg IntermediatePairCorr
  0.74THNDX Thornburg New MexicoPairCorr
  0.71THMCX Thornburg IntermediatePairCorr
  0.73THMIX Thornburg IntermediatePairCorr
  0.95THOVX Thornburg Global OppPairCorr
  0.64THNYX Thornburg New YorkPairCorr
  0.95THOAX Thornburg Global OppPairCorr
  0.95THOIX Thornburg Global OppPairCorr
  0.95THOFX Thornburg Global OppPairCorr
  0.95THOCX Thornburg Global OppPairCorr
  0.95THORX Thornburg Global OppPairCorr
  0.88THRLX Thornburg Limited TermPairCorr
  0.87THRIX Thornburg Limited TermPairCorr
  0.88THRRX Thornburg Limited TermPairCorr
  0.94THVRX Thornburg InternationalPairCorr
  1.0TIBCX Thornburg InvestmentPairCorr
  1.0TIBAX Thornburg InvestmentPairCorr
  1.0TIBMX Thornburg InvestmentPairCorr
  1.0TIBIX Thornburg InvestmentPairCorr

Moving against Thornburg Mutual Fund

  0.63TVRRX Thornburg ValuePairCorr
  0.63TVRFX Thornburg ValuePairCorr
  0.62THCGX Thornburg E GrowthPairCorr
  0.62THGRX Thornburg E GrowthPairCorr
  0.62THIGX Thornburg E GrowthPairCorr

Related Correlations Analysis

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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   
FTUIX
+ 1.0
FTUCX
FTUCX
+ 0.82
TIBMX
FTUIX
+ 0.82
TIBMX
HFCIX
+ 0.73
GSXIX
HFCIX
+ 0.26
FTUCX
HFCIX
+ 0.25
FTUIX
  
High negative correlations   
FTUIX
- 0.34
GSXIX
FTUCX
- 0.34
GSXIX
GSXIX
- 0.19
TIBMX

Risk-Adjusted Indicators

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