Third Avenue Correlations

Mutual Funds . USA . 
Fund . Third Avenue Value
TVFVX Fund  USD 66.68  0.90  1.37%   
The current 90-days correlation between Third Avenue Value and Third Avenue Real is 0.47 (i.e., Very weak 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

Significant diversification

The correlation between Third Avenue Value and DJI is 0.01 (i.e., Significant 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 real.

Moving together with Third Mutual Fund

  0.96TVRVX Third Avenue RealPairCorr
  0.94TVSVX Third Avenue SmallPairCorr
  0.94REIFX Rems International RealPairCorr
  0.94TAREX Third Avenue RealPairCorr
  0.96TARZX Third Avenue RealPairCorr
  0.94TASCX Third Avenue SmallPairCorr
  0.98TAVFX Third Avenue ValuePairCorr
  0.98TAVZX Third Avenue ValuePairCorr
  0.97FSWFX American Funds SmallcapPairCorr
  0.97FSFWX American Funds SmallcapPairCorr
  0.98SCWCX American Fds SmallcapPairCorr
  0.97SCWFX Smallcap WorldPairCorr
  0.98SMCWX Smallcap WorldPairCorr
  0.97CSPFX Smallcap WorldPairCorr
  0.98CSPAX Smallcap WorldPairCorr
  0.97CSPEX Smallcap WorldPairCorr
  0.97RSLCX Smallcap WorldPairCorr
  0.97RLLGX Smallcap WorldPairCorr
  0.97VSTSX Vanguard Total StockPairCorr
  0.97VSMPX Vanguard Total StockPairCorr
  0.97VITSX Vanguard Total StockPairCorr
  0.97VFFSX Vanguard 500 IndexPairCorr
  0.97VFIAX Vanguard 500 IndexPairCorr
  0.98VTISX Vanguard Total InterPairCorr
  0.98VTSNX Vanguard Total InterPairCorr
  0.96VTPSX Vanguard Total InterPairCorr
  0.97VINIX Vanguard InstitutionalPairCorr
  0.97VTSAX Vanguard Total StockPairCorr
  0.98VNEYX Vontobel Global EnviPairCorr
  0.93FMUUX Federated MunicipalPairCorr
  0.73MPIBX Bny Mellon IntermediatePairCorr
  0.93FSRFX Transportation PortfolioPairCorr
  0.96FDAAX Franklin Floating RatePairCorr
  0.92MGQAX Global Quality PortfolioPairCorr
  0.96RPIDX T Rowe PricePairCorr
  0.95MYSIX Victory TrivalentPairCorr
  0.9NWKEX Nationwide Highmark SmallPairCorr
  0.97GWPCX American Funds GrowthPairCorr
  0.95RSVAX Victory Rs ValuePairCorr

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TVRVX  0.65  0.20  0.01 (1.27) 0.64 
(0.71)
 1.35 
(1.36)
 4.40 
TVSVX  0.76  0.13  0.10  0.31  0.64 
(0.90)
 2.22 
(1.25)
 5.35 
REIFX  0.52  0.18  0.01 (9.74) 0.44 
(0.60)
 1.05 
(0.84)
 2.83 
TAREX  0.66  0.10  0.06  0.30  0.58 
(0.73)
 1.92 
(1.35)
 4.38 
TASZX  0.77  0.10  0.05  0.31  0.72 
(0.89)
 2.04 
(1.22)
 5.38 
TARZX  0.69  0.17  0.02  1.34  0.70 
(0.74)
 1.34 
(1.36)
 4.40 
TASCX  0.76  0.13  0.11  0.32  0.64 
(0.88)
 2.19 
(1.26)
 5.41 
TAVFX  0.70  0.16  0.08  0.52  0.53 
(0.77)
 1.56 
(1.18)
 3.53 
TAVZX  0.69  0.21  0.04 (3.48) 0.51 
(0.76)
 1.71 
(1.18)
 3.53 
TVFVX  0.69  0.21  0.05  36.35  0.55 
(0.76)
 1.55 
(1.18)
 3.54 

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