Thornburg International Correlations

TINGX Fund

USD 24.94 0.05 0.20%

The current 90-days correlation between Thornburg International and Thornburg Value Fund is 0.15 (i.e., Average 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

Significant diversification

The correlation between Thornburg International Growth and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg International Growth 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 Growth. 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

0.94	TGIRX	Thornburg International	Pair Corr
0.98	TGVAX	Thornburg International	Pair Corr
0.97	TGVIX	Thornburg International	Pair Corr
0.98	TGVRX	Thornburg International	Pair Corr
1.0	THGIX	Thornburg International	Pair Corr
0.98	THGCX	Thornburg International	Pair Corr
0.75	THMGX	Thornburg Investment	Pair Corr
0.76	THOVX	Thornburg Global Opp	Pair Corr
0.82	THOIX	Thornburg Global Opp	Pair Corr
0.81	THOGX	Thornburg Global Opp	Pair Corr
0.82	THOFX	Thornburg Global Opp	Pair Corr
0.85	THOCX	Thornburg Global Opp	Pair Corr
0.76	THORX	Thornburg Global Opp	Pair Corr

Moving against Thornburg Mutual Fund

0.85	TVRFX	Thornburg Value	Pair Corr
0.84	TVRRX	Thornburg Value	Pair Corr
0.8	THCGX	Thornburg E Growth	Pair Corr
0.8	THCRX	Thornburg E Growth	Pair Corr
0.8	THGRX	Thornburg E Growth	Pair Corr
0.8	THIGX	Thornburg E Growth	Pair Corr
0.74	TLDIX	Thornburg Low Duration	Pair Corr
0.74	TLDAX	Thornburg Low Duration	Pair Corr

Related Correlations Analysis

	TVRRX	TVRFX	TGIRX	TGVAX	TGVIX	TGVRX	THCGX	THCRX	THDCX	THDAX
TVRRX		0.97	-0.77	-0.79	-0.79	-0.79	0.94	0.94	-0.21	-0.19	TVRRX
TVRFX	0.97		-0.79	-0.81	-0.81	-0.81	0.97	0.97	-0.23	-0.2	TVRFX
TGIRX	-0.77	-0.79		0.97	0.96	0.97	-0.72	-0.72	0.65	0.63	TGIRX
TGVAX	-0.79	-0.81	0.97		1.0	1.0	-0.74	-0.74	0.64	0.62	TGVAX
TGVIX	-0.79	-0.81	0.96	1.0		1.0	-0.74	-0.74	0.65	0.63	TGVIX
TGVRX	-0.79	-0.81	0.97	1.0	1.0		-0.74	-0.74	0.64	0.62	TGVRX
THCGX	0.94	0.97	-0.72	-0.74	-0.74	-0.74		1.0	-0.1	-0.08	THCGX
THCRX	0.94	0.97	-0.72	-0.74	-0.74	-0.74	1.0		-0.1	-0.08	THCRX
THDCX	-0.21	-0.23	0.65	0.64	0.65	0.64	-0.1	-0.1		1.0	THDCX
THDAX	-0.19	-0.2	0.63	0.62	0.63	0.62	-0.08	-0.08	1.0		THDAX
	TVRRX	TVRFX	TGIRX	TGVAX	TGVIX	TGVRX	THCGX	THCRX	THDCX	THDAX

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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

TGVIX	+ 1.0	TGVAX
TGVRX	+ 1.0	TGVAX
TGVRX	+ 1.0	TGVIX
THCRX	+ 1.0	THCGX
THDAX	+ 1.0	THDCX
TVRFX	+ 0.97	TVRRX

High negative correlations

TGVRX	- 0.81	TVRFX
TGVIX	- 0.81	TVRFX
TGVAX	- 0.81	TVRFX
TGIRX	- 0.79	TVRFX
TGVRX	- 0.79	TVRRX
TGVIX	- 0.79	TVRRX

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
TVRRX	0.80	0.21	0.18	0.73	0.47	(0.97)	2.08	(1.19)	6.23
TVRFX	0.80	0.09	0.16	0.18	0.48	(0.97)	2.08	(1.19)	6.23
TGIRX	0.65	(0.06)	0.00	0.74	0.00	0.00	1.40	(1.35)	7.02
TGVAX	0.64	(0.08)	0.00	(5.14)	0.00	0.00	1.41	(1.33)	7.23
TGVIX	0.64	(0.08)	0.00	(4.58)	0.00	0.00	1.39	(1.34)	6.99
TGVRX	0.64	(0.08)	0.00	(6.16)	0.00	0.00	1.42	(1.37)	7.17
THCGX	0.87	0.06	0.07	0.15	0.84	(0.91)	2.34	(1.57)	6.21
THCRX	0.87	0.06	0.07	0.15	0.85	(0.91)	2.36	(1.57)	6.21
THDCX	0.61	0.06	(0.04)	0.60	0.71	(0.65)	1.23	(1.29)	4.36
THDAX	0.61	0.06	(0.03)	0.61	0.69	(0.65)	1.25	(1.26)	4.34

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