Thornburg International Correlations

Mutual Funds . USA . 
Fund . Thornburg International Value
TIVRX Fund  USD 29.35  0.13  0.44%   
The current 90-days correlation between Thornburg International and Thornburg E Growth is 0.09 (i.e., Significant 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

Very weak diversification

The correlation between Thornburg International Value and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg International Value 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 Value. 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 metropolitan statistical area.

Moving together with Thornburg Mutual Fund

  1.0TGIRX Thornburg InternationalPairCorr
  1.0TGVAX Thornburg InternationalPairCorr
  0.97TGVIX Thornburg InternationalPairCorr
  1.0TGVRX Thornburg InternationalPairCorr
  0.84THCAX Thornburg Core PlusPairCorr
  0.84THCHX Thornburg Core PlusPairCorr
  1.0THGCX Thornburg InternationalPairCorr
  0.7THIMX Thornburg IntermediatePairCorr
  0.88THIIX Thornburg Limited TermPairCorr
  0.88THIRX Thornburg Limited TermPairCorr
  0.88THIQX Thornburg Limited TermPairCorr
  0.89THIFX Thornburg Limited TermPairCorr
  0.87THICX Thornburg Limited TermPairCorr
  0.67THMQX Thornburg IntermediatePairCorr
  0.71THNDX Thornburg New MexicoPairCorr
  0.72THNMX Thornburg New MexicoPairCorr
  0.74THNIX Thornburg New MexicoPairCorr
  0.64THMCX Thornburg IntermediatePairCorr
  0.69THMIX Thornburg IntermediatePairCorr
  0.89THOVX Thornburg Global OppPairCorr
  0.89THOAX Thornburg Global OppPairCorr
  0.89THOIX Thornburg Global OppPairCorr
  0.9THOGX Thornburg Global OppPairCorr
  0.89THOFX Thornburg Global OppPairCorr
  0.89THOCX Thornburg Global OppPairCorr
  0.87THORX Thornburg Global OppPairCorr
  0.89THRLX Thornburg Limited TermPairCorr

Moving against Thornburg Mutual Fund

  0.69THCGX Thornburg E GrowthPairCorr
  0.69THCRX Thornburg E GrowthPairCorr
  0.68TVRRX Thornburg ValuePairCorr
  0.68THGRX Thornburg E GrowthPairCorr
  0.68THIGX Thornburg E GrowthPairCorr
  0.67TVRFX Thornburg ValuePairCorr
  0.54THMGX Thornburg InvestmentPairCorr

Related Correlations Analysis

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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.

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