Thrivent Moderate Correlations

TMAIX Fund

USD 15.51 0.04 0.26%

The current 90-days correlation between Thrivent Moderate and Fuhkbx is 0.64 (i.e., Poor diversification). The correlation of Thrivent Moderate 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.

Thrivent Moderate Correlation With Market

Very poor diversification

The correlation between Thrivent Moderate Allocation and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent Moderate Allocation 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 Thrivent Moderate Allocation. 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 Thrivent Mutual Fund

0.87	THLCX	Thrivent Large Cap	Pair Corr
1.0	THMAX	Thrivent Moderate	Pair Corr
0.82	AAAGX	Thrivent Large Cap	Pair Corr
0.79	AABFX	Thrivent Balanced Income	Pair Corr
0.94	AALGX	Thrivent Large Cap	Pair Corr
0.91	AASCX	Thrivent Mid Cap	Pair Corr
0.78	AASMX	Thrivent Small Cap	Pair Corr
0.77	AAUTX	Thrivent Large Cap	Pair Corr
0.82	TLVIX	Thrivent Large Cap	Pair Corr
0.77	IBBFX	Thrivent Balanced Income	Pair Corr
1.0	TMAFX	Thrivent Moderately	Pair Corr
1.0	TMAAX	Thrivent Moderately	Pair Corr
0.89	TMCVX	Thrivent Mid Cap	Pair Corr
0.9	TMCGX	Turner Emerging Growth	Pair Corr
0.91	TMSIX	Thrivent Mid Cap	Pair Corr
0.98	TAAAX	Thrivent Aggressive	Pair Corr
0.99	TAAIX	Thrivent Aggressive	Pair Corr
0.8	TSCGX	Thrivent Small Cap	Pair Corr
0.78	TSCSX	Thrivent Small Cap	Pair Corr
0.94	IILGX	Thrivent Large Cap	Pair Corr
0.86	TCAAX	Thrivent Moderately	Pair Corr
0.85	TCAIX	Thrivent Moderately	Pair Corr

Moving against Thrivent Mutual Fund

0.33	THLIX	Thrivent Limited Maturity	Pair Corr
0.38	TBFAX	Thrivent Government Bond	Pair Corr
0.37	TBFIX	Thrivent Government Bond	Pair Corr
0.32	LBLAX	Thrivent Limited Maturity	Pair Corr

Related Correlations Analysis

	FUHKBX	IAADX	ABVCX	WABMSX	FURYAX	RTIUX	WRLDX
FUHKBX		-0.39	0.65	0.49	0.8	-0.33	-0.13	FUHKBX
IAADX	-0.39		0.25	0.28	-0.06	0.94	0.88	IAADX
ABVCX	0.65	0.25		0.87	0.93	0.27	0.56	ABVCX
WABMSX	0.49	0.28	0.87		0.84	0.33	0.57	WABMSX
FURYAX	0.8	-0.06	0.93	0.84		-0.01	0.29	FURYAX
RTIUX	-0.33	0.94	0.27	0.33	-0.01		0.84	RTIUX
WRLDX	-0.13	0.88	0.56	0.57	0.29	0.84		WRLDX
	FUHKBX	IAADX	ABVCX	WABMSX	FURYAX	RTIUX	WRLDX

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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

RTIUX	+ 0.94	IAADX
FURYAX	+ 0.93	ABVCX
WRLDX	+ 0.88	IAADX
WABMSX	+ 0.87	ABVCX
FURYAX	+ 0.84	WABMSX
WRLDX	+ 0.84	RTIUX

High negative correlations

IAADX	- 0.39	FUHKBX
RTIUX	- 0.33	FUHKBX
WRLDX	- 0.13	FUHKBX
FURYAX	- 0.06	IAADX
RTIUX	- 0.01	FURYAX

Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent Moderate 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 Thrivent Moderate'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
FUHKBX	0.68	(0.02)	0.00	(0.03)	0.00	0.00	1.13	(1.61)	4.79
IAADX	0.19	0.01	0.06	(0.60)	0.15	(0.25)	0.45	(0.34)	0.90
ABVCX	0.65	0.02	0.03	0.02	0.82	(0.66)	1.38	(1.38)	3.68
WABMSX	0.60	0.03	0.04	0.04	0.78	(0.61)	1.38	(1.29)	3.66
FURYAX	0.69	(0.01)	0.00	(0.02)	0.00	0.00	1.21	(1.39)	2.96
RTIUX	0.59	0.11	0.13	0.20	0.62	(0.65)	1.47	(1.41)	5.02
WRLDX	0.59	0.05	0.07	(0.30)	0.76	(0.59)	1.24	(1.46)	2.96

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