Third Avenue Correlations

Mutual Funds . USA . 
Fund . Third Avenue Small
TASZX Fund  USD 20.05  0.08  0.40%   
The current 90-days correlation between Third Avenue Small and Jpmorgan Diversified Fund is 0.88 (i.e., Very poor diversification). The correlation of Third Avenue 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.

Third Avenue Correlation With Market

Very poor diversification

The correlation between Third Avenue Small 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 Third Avenue Small 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 Third Avenue Small. 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 nation.

Moving together with Third Mutual Fund

  0.97TVRVX Third Avenue RealPairCorr
  1.0TVSVX Third Avenue SmallPairCorr
  0.89REIFX Rems International RealPairCorr
  0.97TAREX Third Avenue RealPairCorr
  0.97TARZX Third Avenue RealPairCorr
  1.0TASCX Third Avenue SmallPairCorr
  0.96TAVFX Third Avenue ValuePairCorr
  0.96TAVZX Third Avenue ValuePairCorr
  0.96TVFVX Third Avenue ValuePairCorr
  0.99VSIIX Vanguard Small CapPairCorr
  0.99VISVX Vanguard Small CapPairCorr
  1.0DFSVX Us Small CapPairCorr
  1.0DFFVX Us Targeted ValuePairCorr
  0.99UBVCX Undiscovered ManagersPairCorr
  0.99UBVAX Undiscovered ManagersPairCorr
  0.99UBVSX Undiscovered ManagersPairCorr
  0.99AVFIX American Beacon SmallPairCorr
  0.62MIDSX Midas Fund MidasPairCorr
  0.96CISGX Touchstone Sands CapitalPairCorr
  0.95CWFRX Carillon Chartwell ShortPairCorr
  0.92BRZKX Blackrock Advantage EsgPairCorr
  0.93RYECX Energy Fund ClassPairCorr
  0.97VSZEX Voya Index SolutionPairCorr
  0.97FWWNX American Funds NewPairCorr
  0.65PCYBX Pioneer BondPairCorr
  0.98MXHPX Great West ModeratelyPairCorr
  0.92BXFAX Barings Global FloatingPairCorr
  0.94RYBIX Basic MaterialsPairCorr
  0.95VTSNX Vanguard Total InterPairCorr
  0.97TAAKX Transamerica AssetPairCorr
  0.98AWYIX At Equity IncomePairCorr
  0.95ALAFX Alger Capital ApprecPairCorr
  0.96CVMIX Calvert Emerging MarketsPairCorr
  0.98SEHAX Siit Equity FactorPairCorr
  0.72TIOEX Transamerica FundsPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Third Mutual Fund performing well and Third Avenue 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 Third Avenue'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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