Thrivent Small Correlations

AASMX Fund

USD 22.91 0.33 1.46%

The current 90-days correlation between Thrivent Small Cap and Pgim Jennison Technology is -0.18 (i.e., Good diversification). The correlation of Thrivent Small 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.

Thrivent Small Correlation With Market

Poor diversification

The correlation between Thrivent Small Cap and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent Small Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Thrivent Small Cap. 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 population.

Moving together with Thrivent Mutual Fund

0.99	VSCIX	Vanguard Small Cap	Pair Corr
0.99	VSCPX	Vanguard Small Cap	Pair Corr
0.99	NAESX	Vanguard Small Cap	Pair Corr
0.99	FSSNX	Fidelity Small Cap	Pair Corr
1.0	DFSTX	Us Small Cap	Pair Corr
1.0	PRVIX	T Rowe Price	Pair Corr
1.0	TRZVX	T Rowe Price	Pair Corr
0.63	CAT	Caterpillar	Pair Corr
0.62	IBM	International Business	Pair Corr
0.63	CVX	Chevron Corp	Pair Corr

Moving against Thrivent Mutual Fund

0.53	MCD	McDonalds	Pair Corr
0.42	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	PGKCX	ROGSX	FIKHX	PTTEX	JNGTX
PGKCX		0.99	0.99	1.0	1.0	PGKCX
ROGSX	0.99		1.0	1.0	1.0	ROGSX
FIKHX	0.99	1.0		1.0	1.0	FIKHX
PTTEX	1.0	1.0	1.0		1.0	PTTEX
JNGTX	1.0	1.0	1.0	1.0		JNGTX
	PGKCX	ROGSX	FIKHX	PTTEX	JNGTX

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Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent Small 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 Thrivent Small'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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PGKCX	0.97	0.46	0.21	(1.83)	0.55	(1.22)	2.40	(1.69)	6.58
ROGSX	0.83	0.46	0.25	(1.77)	0.21	(1.02)	2.44	(1.12)	5.65
FIKHX	1.00	0.52	0.26	(2.23)	0.42	(1.23)	2.80	(1.29)	7.15
PTTEX	0.99	0.50	0.25	(2.30)	0.44	(1.23)	3.13	(1.23)	6.54
JNGTX	0.84	0.47	0.25	(2.54)	0.27	(1.02)	2.30	(1.10)	5.89

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