Thrivent High Correlations

Mutual Funds . USA . 
Fund . Thrivent High Income
THMBX Fund  USD 9.08  0.05  0.55%   
The current 90-days correlation between Thrivent High Income and Thrivent Partner Worldwide is 0.15 (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

Good diversification

The correlation between Thrivent High Income and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent High Income 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 Thrivent High Income. 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 bureau of labor statistics.

Moving together with Thrivent Mutual Fund

  0.97NHMAX Nuveen High YieldPairCorr
  0.82NHCCX Nuveen High YieldPairCorr
  0.84NHMRX Nuveen High YieldPairCorr
  0.85NHMFX Nuveen High YieldPairCorr
  0.68ABHFX American High IncomePairCorr
  0.81AHICX American High IncomePairCorr
  0.76AMHIX American High IncomePairCorr
  0.84GHYCX Goldman Sachs HighPairCorr
  0.95GHYAX Goldman Sachs HighPairCorr
  0.94ACTDX Invesco High YieldPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
TWAAX  0.50  0.19  0.02 (3.70) 0.32 
(0.57)
 1.26 
(0.98)
 3.28 
TWAIX  0.49  0.13  0.04  0.50  0.31 
(0.56)
 1.34 
(1.06)
 3.09 
THLCX  0.83  0.33  0.13 (3.02) 0.66 
(0.99)
 2.50 
(1.31)
 5.96 
THLIX  0.09  0.02 (1.33) 3.62  0.00 
(0.15)
 0.24 
(0.16)
 0.65 
THMAX  0.42  0.17 (0.02)(2.13) 0.28 
(0.48)
 1.35 
(0.81)
 3.17 
THMBX  0.20 (0.01) 0.00  0.43  0.00 
 0.00 
 0.44 
(0.44)
 1.42 
THYFX  0.22  0.03 (0.25) 0.31  0.00 
(0.31)
 0.59 
(0.29)
 1.46 
AAAGX  0.84  0.33  0.13 (2.85) 0.66 
(1.00)
 2.48 
(1.36)
 5.97 
AABFX  0.28  0.11 (0.13)(2.08) 0.00 
(0.33)
 0.99 
(0.49)
 1.98 
AAINX  0.16  0.05 (0.58)(2.40) 0.00 
(0.20)
 0.34 
(0.22)
 0.77 

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