Third Avenue Correlations

Mutual Funds . USA . 
Fund . Third Avenue Value
TAVFX Fund  USD 65.29  0.50  0.77%   
The current 90-days correlation between Third Avenue Value and Fidelity Advisor Technology is -0.02 (i.e., Good 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 weak diversification

The correlation between Third Avenue Value and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Third Avenue 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 Third Avenue 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 census.

Moving together with Third Mutual Fund

  0.96TVRVX Third Avenue RealPairCorr
  0.95TVSVX Third Avenue SmallPairCorr
  0.96TAREX Third Avenue RealPairCorr
  0.95TASZX Third Avenue SmallPairCorr
  0.96TARZX Third Avenue RealPairCorr
  0.96TASCX Third Avenue SmallPairCorr
  0.98TAVZX Third Avenue ValuePairCorr
  0.97FSWFX American Funds SmallcapPairCorr
  0.97FSFWX American Funds SmallcapPairCorr
  0.97SCWCX American Fds SmallcapPairCorr
  0.98SCWFX Smallcap WorldPairCorr
  0.97SMCWX Smallcap WorldPairCorr
  0.98CSPFX Smallcap WorldPairCorr
  0.97CSPAX Smallcap WorldPairCorr
  0.98CSPEX Smallcap WorldPairCorr
  0.98RSLCX Smallcap WorldPairCorr
  0.97RLLGX Smallcap WorldPairCorr
  0.96VSTSX Vanguard Total StockPairCorr
  0.96VSMPX Vanguard Total StockPairCorr
  0.97VITSX Vanguard Total StockPairCorr
  0.96VFFSX Vanguard 500 IndexPairCorr
  0.97VFIAX Vanguard 500 IndexPairCorr
  0.97VTISX Vanguard Total InterPairCorr
  0.97VTSNX Vanguard Total InterPairCorr
  0.98VTPSX Vanguard Total InterPairCorr
  0.97VINIX Vanguard InstitutionalPairCorr
  0.96VTSAX Vanguard Total StockPairCorr
  0.97VNEYX Vontobel Global EnviPairCorr
  0.92FMUUX Federated MunicipalPairCorr
  0.74MPIBX Bny Mellon IntermediatePairCorr
  0.95FSRFX Transportation PortfolioPairCorr
  0.95FDAAX Franklin Floating RatePairCorr
  0.92MGQAX Global Quality PortfolioPairCorr
  0.95RPIDX T Rowe PricePairCorr
  0.96MYSIX Victory TrivalentPairCorr
  0.91NWKEX Nationwide Highmark SmallPairCorr
  0.98GWPCX American Funds GrowthPairCorr
  0.93RSVAX Victory Rs ValuePairCorr
  0.97UINQX Usaa Nasdaq 100PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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