Thrivent High Correlations

Mutual Funds . USA . 
Fund . Thrivent High Yield
LBHIX Fund  USD 4.21  0.01  0.24%   
The current 90-days correlation between Thrivent High Yield and Thrivent Limited Maturity is 0.16 (i.e., Average diversification). The correlation of Thrivent High 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 High Correlation With Market

Modest diversification

The correlation between Thrivent High Yield and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent High Yield and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Thrivent High Yield. 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 Thrivent Mutual Fund

  0.64THLIX Thrivent Limited MaturityPairCorr
  0.65THMAX Thrivent ModeratePairCorr
  0.73THMBX Thrivent High IncomePairCorr
  0.82THYFX Thrivent DiversifiedPairCorr
  0.61AAAGX Thrivent Large CapPairCorr
  0.78AABFX Thrivent Balanced IncomePairCorr
  0.71AAINX Thrivent OpportunityPairCorr
  0.82AAHYX Thrivent DiversifiedPairCorr
  0.63AAMBX Thrivent Municipal BondPairCorr
  0.71AASCX Thrivent Mid CapPairCorr
  0.72AASMX Thrivent Small CapPairCorr
  0.65TMAIX Thrivent ModeratePairCorr
  0.76IBBFX Thrivent Balanced IncomePairCorr
  0.79TMBIX Thrivent Municipal BondPairCorr
  0.67TMAFX Thrivent ModeratelyPairCorr
  0.67TMAAX Thrivent ModeratelyPairCorr
  0.64TMCVX Thrivent Mid CapPairCorr
  0.71TMSIX Thrivent Mid CapPairCorr
  0.92LBHYX Thrivent High YieldPairCorr
  0.64LBLAX Thrivent Limited MaturityPairCorr
  0.64TAAAX Thrivent AggressivePairCorr
  0.64TAAIX Thrivent AggressivePairCorr
  0.65TSCGX Thrivent Small CapPairCorr
  0.71TSCSX Thrivent Small CapPairCorr
  0.71IIINX Thrivent OpportunityPairCorr

Related Correlations Analysis

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
IIINX
+ 0.96
LBIIX
IIINX
+ 0.82
THLIX
LBIIX
+ 0.77
THLIX
THLCX
+ 0.65
TLVIX
IIINX
+ 0.35
TLVIX
TLVIX
+ 0.25
LBIIX
  
High negative correlations   
THLCX
- 0.07
LBIIX

Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent High 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 High'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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