Thrivent Balanced Correlations

AABFX Fund

USD 14.43 0.14 0.96%

The current 90-days correlation between Thrivent Balanced Income and American Century High is 0.31 (i.e., Weak diversification). The correlation of Thrivent Balanced 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 Balanced Correlation With Market

Poor diversification

The correlation between Thrivent Balanced Income and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent Balanced Income 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 Balanced 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 census.

Moving together with Thrivent Mutual Fund

0.98	TWAAX	Thrivent Partner Wor	Pair Corr
0.94	TWAIX	Thrivent Partner Wor	Pair Corr
0.82	THLCX	Thrivent Large Cap	Pair Corr
0.71	THLIX	Thrivent Limited Maturity	Pair Corr
0.96	THMAX	Thrivent Moderate	Pair Corr
0.86	THYFX	Thrivent Diversified	Pair Corr
0.86	AAAGX	Thrivent Large Cap	Pair Corr
0.72	AAINX	Thrivent Opportunity	Pair Corr
0.88	AAHYX	Thrivent Diversified	Pair Corr
1.0	AALGX	Thrivent Large Cap	Pair Corr
0.98	AASCX	Thrivent Mid Cap	Pair Corr
0.89	AASMX	Thrivent Small Cap	Pair Corr
0.95	AAUTX	Thrivent Large Cap	Pair Corr
0.95	TLVIX	Thrivent Large Cap	Pair Corr
0.96	TMAIX	Thrivent Moderate	Pair Corr
0.96	IBBFX	Thrivent Balanced Income	Pair Corr
1.0	TMAFX	Thrivent Moderately	Pair Corr
1.0	TMAAX	Thrivent Moderately	Pair Corr
0.94	TMSIX	Thrivent Mid Cap	Pair Corr
0.86	LBHYX	Thrivent High Yield	Pair Corr
0.86	LBIIX	Thrivent Income	Pair Corr
0.88	LBHIX	Thrivent High Yield	Pair Corr
0.72	LBLAX	Thrivent Limited Maturity	Pair Corr
0.77	TAAAX	Thrivent Aggressive	Pair Corr
1.0	TAAIX	Thrivent Aggressive	Pair Corr
0.66	TSCGX	Thrivent Small Cap	Pair Corr
0.79	TSCSX	Thrivent Small Cap	Pair Corr
0.88	LUBIX	Thrivent Income	Pair Corr
0.73	IIINX	Thrivent Opportunity	Pair Corr
1.0	IILGX	Thrivent Large Cap	Pair Corr
0.96	TCAAX	Thrivent Moderately	Pair Corr
0.96	TCAIX	Thrivent Moderately	Pair Corr

Moving against Thrivent Mutual Fund

0.46	TCSUX	Cleartrack 2020 Class	Pair Corr
0.45	TCTGX	Transamerica Cleartrack	Pair Corr
0.45	USPSX	Profunds Ultrashort	Pair Corr
0.45	TDKTX	Cleartrack 2015 Class	Pair Corr
0.45	TCTJX	Transamerica Cleartrack	Pair Corr
0.41	PDI	Pimco Dynamic Income	Pair Corr

Related Correlations Analysis

	ACHFX	GHVIX	PYRLX	IPIMX	CRDOX	RTHAX
ACHFX		0.93	0.92	0.94	0.85	0.38	ACHFX
GHVIX	0.93		0.98	0.95	0.91	0.45	GHVIX
PYRLX	0.92	0.98		0.94	0.9	0.41	PYRLX
IPIMX	0.94	0.95	0.94		0.86	0.4	IPIMX
CRDOX	0.85	0.91	0.9	0.86		0.65	CRDOX
RTHAX	0.38	0.45	0.41	0.4	0.65		RTHAX
	ACHFX	GHVIX	PYRLX	IPIMX	CRDOX	RTHAX

Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent Balanced 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 Balanced'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
ACHFX	0.13	0.01	(0.19)	0.13	0.00	(0.20)	0.35	(0.23)	1.04
GHVIX	0.12	0.01	(0.24)	0.32	0.00	(0.15)	0.29	(0.23)	0.77
PYRLX	0.10	0.01	(0.29)	0.50	0.00	(0.14)	0.24	(0.16)	0.63
IPIMX	0.13	0.01	(0.23)	0.63	0.00	(0.20)	0.45	(0.23)	0.91
CRDOX	0.10	0.00	(0.25)	0.20	0.06	(0.15)	0.22	(0.11)	0.45
RTHAX	0.06	0.01	(0.32)	10.07	0.00	(0.13)	0.21	(0.10)	0.42

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