Thornburg Intermediate Correlations

Mutual Funds . USA . 
Fund . Thornburg Intermediate Municipal
THMCX Fund  USD 12.87  0.01  0.08%   
The current 90-days correlation between Thornburg Intermediate and Thornburg Value Fund is 0.12 (i.e., Average diversification). The correlation of Thornburg Intermediate 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 Intermediate Correlation With Market

Significant diversification

The correlation between Thornburg Intermediate Municip and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thornburg Intermediate Municip 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 Intermediate Municipal. 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 main economic indicators.

Moving together with Thornburg Mutual Fund

  0.8TVRFX Thornburg ValuePairCorr
  0.79TGVAX Thornburg InternationalPairCorr
  0.79TGVIX Thornburg InternationalPairCorr
  0.78TGVRX Thornburg InternationalPairCorr
  0.75THCAX Thornburg Core PlusPairCorr
  0.77THCGX Thornburg E GrowthPairCorr
  0.76THCHX Thornburg Core PlusPairCorr
  0.78THCRX Thornburg E GrowthPairCorr
  0.78THDCX Thornburg DevelopingPairCorr
  0.78THDAX Thornburg DevelopingPairCorr
  0.78THDIX Thornburg DevelopingPairCorr
  0.78THDRX Thornburg DevelopingPairCorr
  0.77THGIX Thornburg InternationalPairCorr
  0.79THGCX Thornburg InternationalPairCorr
  0.78THGRX Thornburg E GrowthPairCorr
  0.95THIMX Thornburg IntermediatePairCorr
  0.77THIIX Thornburg Limited TermPairCorr
  0.78THIGX Thornburg E GrowthPairCorr
  0.78THIRX Thornburg Limited TermPairCorr
  0.78THIQX Thornburg Limited TermPairCorr
  0.82THIFX Thornburg Limited TermPairCorr
  0.81THICX Thornburg Limited TermPairCorr
  1.0THMQX Thornburg IntermediatePairCorr
  0.92THNDX Thornburg New MexicoPairCorr
  0.91THNMX Thornburg New MexicoPairCorr
  0.91THNIX Thornburg New MexicoPairCorr
  1.0THMIX Thornburg IntermediatePairCorr
  0.78THMGX Thornburg InvestmentPairCorr
  0.78THOVX Thornburg Global OppPairCorr
  0.93THNYX Thornburg New YorkPairCorr
  0.78THOAX Thornburg Global OppPairCorr
  0.78THOIX Thornburg Global OppPairCorr
  0.78THOGX Thornburg Global OppPairCorr
  0.78THOFX Thornburg Global OppPairCorr
  0.78THOCX Thornburg Global OppPairCorr
  0.78THORX Thornburg Global OppPairCorr
  0.79THRLX 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 Intermediate 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 Intermediate'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
TVRRX  0.72  0.28  0.09 (1.63) 0.51 
(0.80)
 2.14 
(0.98)
 6.29 
TVRFX  0.82  0.30  0.08 (1.10) 0.72 
(0.88)
 2.25 
(1.64)
 6.28 
TGIRX  0.46  0.14  0.02  0.83  0.05 
(0.56)
 1.05 
(0.75)
 2.44 
TGVAX  0.46  0.18  0.04  4.15  0.00 
(0.56)
 1.06 
(0.72)
 2.44 
TGVIX  0.47  0.18  0.04  4.02  0.00 
(0.57)
 1.08 
(0.75)
 2.46 
TGVRX  0.47  0.20  0.04 (2.83) 0.00 
(0.58)
 1.09 
(0.75)
 2.44 
THCAX  0.27  0.02 (0.42)(2.38) 0.28 
(0.29)
 0.49 
(0.58)
 1.27 
THCGX  0.87  0.24  0.07  2.26  0.84 
(0.95)
 2.48 
(1.37)
 5.68 
THCHX  0.27  0.00 (0.40) 0.00  0.28 
(0.31)
 0.49 
(0.49)
 1.26 
THCRX  0.89  0.29  0.06 (0.97) 0.87 
(0.97)
 2.45 
(1.40)
 5.69 

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