Thornburg International Correlations

Mutual Funds . USA . 
Fund . Thornburg International Value
TGVIX Fund  USD 31.91  0.02  0.06%   
The current 90-days correlation between Thornburg International and Jpmorgan Mid Cap is 0.47 (i.e., Very weak diversification). The correlation of Thornburg International 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 International Correlation With Market

Weak diversification

The correlation between Thornburg International Value and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg International 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 Thornburg International 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 gross domestic product.

Moving together with Thornburg Mutual Fund

  0.95TVRRX Thornburg ValuePairCorr
  0.95TVRFX Thornburg ValuePairCorr
  1.0TGIRX Thornburg InternationalPairCorr
  0.99TGVAX Thornburg InternationalPairCorr
  1.0TGVRX Thornburg InternationalPairCorr
  0.64THCAX Thornburg Core PlusPairCorr
  0.97THCGX Thornburg E GrowthPairCorr
  0.65THCHX Thornburg Core PlusPairCorr
  0.97THCRX Thornburg E GrowthPairCorr
  0.97THDCX Thornburg DevelopingPairCorr
  0.97THDAX Thornburg DevelopingPairCorr
  0.97THDIX Thornburg DevelopingPairCorr
  0.97THDRX Thornburg DevelopingPairCorr
  0.96THGIX Thornburg InternationalPairCorr
  0.99THGCX Thornburg InternationalPairCorr
  0.97THGRX Thornburg E GrowthPairCorr
  0.86THIMX Thornburg IntermediatePairCorr
  0.86THIIX Thornburg Limited TermPairCorr
  0.97THIGX Thornburg E GrowthPairCorr
  0.84THIRX Thornburg Limited TermPairCorr
  0.83THIQX Thornburg Limited TermPairCorr
  0.85THIFX Thornburg Limited TermPairCorr
  0.84THICX Thornburg Limited TermPairCorr
  0.82THMQX Thornburg IntermediatePairCorr
  0.9THNDX Thornburg New MexicoPairCorr
  0.9THNMX Thornburg New MexicoPairCorr
  0.92THNIX Thornburg New MexicoPairCorr
  0.82THMCX Thornburg IntermediatePairCorr
  0.84THMIX Thornburg IntermediatePairCorr
  0.97THMGX Thornburg InvestmentPairCorr
  0.99THOVX Thornburg Global OppPairCorr
  0.72THNYX Thornburg New YorkPairCorr
  0.98THOAX Thornburg Global OppPairCorr
  0.99THOIX Thornburg Global OppPairCorr
  0.99THOGX Thornburg Global OppPairCorr
  0.99THOFX Thornburg Global OppPairCorr
  0.99THOCX Thornburg Global OppPairCorr
  0.99THORX Thornburg Global OppPairCorr
  0.86THRLX Thornburg Limited TermPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

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