Thrivent Income Correlations

Mutual Funds . USA . 
Fund . Thrivent Income Fund
LUBIX Fund  USD 8.17  0.02  0.25%   
The current 90-days correlation between Thrivent Income and Thrivent Partner Worldwide is 0.32 (i.e., Weak diversification). The correlation of Thrivent Income 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 Income Correlation With Market

Weak diversification

The correlation between Thrivent Income Fund and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent Income Fund and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Thrivent Income 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 gross domestic product.

Moving together with Thrivent Mutual Fund

  0.84TWAAX Thrivent Partner WorPairCorr
  0.84TWAIX Thrivent Partner WorPairCorr
  0.83THLCX Thrivent Large CapPairCorr
  0.97THLIX Thrivent Limited MaturityPairCorr
  0.87THMAX Thrivent ModeratePairCorr
  0.91THYFX Thrivent DiversifiedPairCorr
  0.84AAAGX Thrivent Large CapPairCorr
  0.88AABFX Thrivent Balanced IncomePairCorr
  0.93AAINX Thrivent OpportunityPairCorr
  0.91AAHYX Thrivent DiversifiedPairCorr
  0.84AALGX Thrivent Large CapPairCorr
  0.72AASCX Thrivent Mid CapPairCorr
  0.79AASMX Thrivent Small CapPairCorr
  0.86AAUTX Thrivent Large CapPairCorr
  0.87TLVIX Thrivent Large CapPairCorr
  0.86TMAIX Thrivent ModeratePairCorr
  0.9IBBFX Thrivent Balanced IncomePairCorr
  0.86TMAFX Thrivent ModeratelyPairCorr
  0.84TMAAX Thrivent ModeratelyPairCorr
  0.84TMCVX Thrivent Mid CapPairCorr
  0.79TMCGX Turner Emerging GrowthPairCorr
  0.74TMSIX Thrivent Mid CapPairCorr
  0.88LBHYX Thrivent High YieldPairCorr
  1.0LBIIX Thrivent IncomePairCorr
  0.9LBHIX Thrivent High YieldPairCorr
  0.96LBLAX Thrivent Limited MaturityPairCorr
  0.85TAAAX Thrivent AggressivePairCorr
  0.83TAAIX Thrivent AggressivePairCorr
  0.79TSCGX Thrivent Small CapPairCorr
  0.81TSCSX Thrivent Small CapPairCorr
  0.78TBFAX Thrivent Government BondPairCorr
  0.85TBFIX Thrivent Government BondPairCorr
  0.97IIINX Thrivent OpportunityPairCorr
  0.85IILGX Thrivent Large CapPairCorr
  0.9TCAAX Thrivent ModeratelyPairCorr
  0.9TCAIX Thrivent ModeratelyPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent Income 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 Income'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TWAAX  0.50  0.13  0.08  0.48  0.32 
(0.57)
 1.26 
(0.98)
 3.28 
TWAIX  0.49  0.14  0.08  0.49  0.32 
(0.57)
 1.34 
(1.06)
 3.09 
THLCX  0.84  0.32  0.17 (3.74) 0.66 
(1.02)
 2.50 
(1.31)
 5.96 
THLIX  0.09  0.02 (0.99) 1.86  0.00 
(0.15)
 0.24 
(0.16)
 0.65 
THMAX  0.42  0.07  0.03  0.26  0.28 
(0.48)
 1.35 
(0.81)
 3.17 
THMBX  0.20 (0.03) 0.00 (0.32) 0.00 
 0.00 
 0.44 
(0.44)
 1.42 
THYFX  0.23  0.08 (0.14)(6.60) 0.00 
(0.32)
 0.60 
(0.29)
 1.49 
AAAGX  0.85  0.17  0.16  0.29  0.66 
(1.02)
 2.48 
(1.36)
 5.97 
AABFX  0.29  0.12 (0.04)(2.06) 0.00 
(0.34)
 0.99 
(0.49)
 1.98 
AAINX  0.16  0.05 (0.38)(2.12) 0.00 
(0.21)
 0.34 
(0.22)
 1.02 

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