Thornburg Value Correlations

Mutual Funds . USA . 
Fund . Thornburg Value Fund
TVCFX Fund  USD 67.66  1.13  1.70%   
The current 90-days correlation between Thornburg Value and Intermediate Term Bond Fund is 0.12 (i.e., Average diversification). The correlation of Thornburg Value 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 Value Correlation With Market

Average diversification

The correlation between Thornburg Value Fund and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg Value Fund 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 Value Fund. 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 census.

Moving together with Thornburg Mutual Fund

  0.95TVRRX Thornburg ValuePairCorr
  0.95TVRFX Thornburg ValuePairCorr
  0.96THCGX Thornburg E GrowthPairCorr
  0.9THCRX Thornburg E GrowthPairCorr
  0.9THGRX Thornburg E GrowthPairCorr
  0.96THIGX Thornburg E GrowthPairCorr

Moving against Thornburg Mutual Fund

  0.62THGIX Thornburg InternationalPairCorr
  0.62THGCX Thornburg InternationalPairCorr
  0.59TGVRX Thornburg InternationalPairCorr
  0.58TGVAX Thornburg InternationalPairCorr
  0.57TGIRX Thornburg InternationalPairCorr
  0.57TGVIX Thornburg InternationalPairCorr
  0.47THDCX Thornburg DevelopingPairCorr
  0.42THDAX Thornburg DevelopingPairCorr
  0.39THDIX Thornburg DevelopingPairCorr
  0.39THDRX Thornburg DevelopingPairCorr
  0.64TIBCX Thornburg InvestmentPairCorr
  0.64TIBIX Thornburg InvestmentPairCorr
  0.64TIBGX Thornburg InvestmentPairCorr
  0.64TIGCX Thornburg InternationalPairCorr
  0.63TIGAX Thornburg InternationalPairCorr
  0.63TIGVX Thornburg InternationalPairCorr
  0.62TIBMX Thornburg InvestmentPairCorr
  0.62TIBRX Thornburg InvestmentPairCorr
  0.62TIBOX Thornburg InvestmentPairCorr
  0.62TINGX Thornburg InternationalPairCorr
  0.58THVRX Thornburg InternationalPairCorr
  0.56TIBAX Thornburg InvestmentPairCorr
  0.47THOCX Thornburg Global OppPairCorr
  0.42THOVX Thornburg Global OppPairCorr
  0.42THORX Thornburg Global OppPairCorr
  0.4THOIX Thornburg Global OppPairCorr
  0.4THOFX Thornburg Global OppPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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