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

  0.99VSCIX Vanguard Small CapPairCorr
  0.99VSCPX Vanguard Small CapPairCorr
  0.99NAESX Vanguard Small CapPairCorr
  0.99FSSNX Fidelity Small CapPairCorr
  1.0DFSTX Us Small CapPairCorr
  1.0PRVIX T Rowe PricePairCorr
  1.0TRZVX T Rowe PricePairCorr
  0.63CAT CaterpillarPairCorr
  0.62IBM International BusinessPairCorr
  0.63CVX Chevron CorpPairCorr

Moving against Thrivent Mutual Fund

  0.53MCD McDonaldsPairCorr
  0.42TRV The Travelers CompaniesPairCorr

Related Correlations Analysis

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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.