Thrivent Opportunity Correlations

IIINX Fund

USD 9.20 0.02 0.22%

The current 90-days correlation between Thrivent Opportunity and Davis Real Estate is 0.27 (i.e., Modest diversification). The correlation of Thrivent Opportunity 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 Opportunity Correlation With Market

Weak diversification

The correlation between Thrivent Opportunity Income and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent Opportunity Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Thrivent Opportunity 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 state.

Moving together with Thrivent Mutual Fund

0.82	TWAAX	Thrivent Partner Wor	Pair Corr
0.76	TWAIX	Thrivent Partner Wor	Pair Corr
0.85	THLCX	Thrivent Large Cap	Pair Corr
0.9	THLIX	Thrivent Limited Maturity	Pair Corr
0.87	THMAX	Thrivent Moderate	Pair Corr
0.96	THYFX	Thrivent Diversified	Pair Corr
0.85	AAAGX	Thrivent Large Cap	Pair Corr
0.96	AABFX	Thrivent Balanced Income	Pair Corr
1.0	AAINX	Thrivent Opportunity	Pair Corr
0.89	AAHYX	Thrivent Diversified	Pair Corr
0.84	AALGX	Thrivent Large Cap	Pair Corr
0.74	AASMX	Thrivent Small Cap	Pair Corr
0.87	AAUTX	Thrivent Large Cap	Pair Corr
0.8	TLVIX	Thrivent Large Cap	Pair Corr
0.93	TMAIX	Thrivent Moderate	Pair Corr
0.89	IBBFX	Thrivent Balanced Income	Pair Corr
0.92	TMAFX	Thrivent Moderately	Pair Corr
0.85	TMAAX	Thrivent Moderately	Pair Corr
0.82	TMCVX	Thrivent Mid Cap	Pair Corr
0.91	TMCGX	Turner Emerging Growth	Pair Corr
0.88	LBHYX	Thrivent High Yield	Pair Corr
0.98	LBIIX	Thrivent Income	Pair Corr
0.63	LBHIX	Thrivent High Yield	Pair Corr
0.99	LBLAX	Thrivent Limited Maturity	Pair Corr
0.9	TAAIX	Thrivent Aggressive	Pair Corr
0.89	TSCGX	Thrivent Small Cap	Pair Corr
0.84	TSCSX	Thrivent Small Cap	Pair Corr
0.98	LUBIX	Thrivent Income	Pair Corr
0.61	TBFAX	Thrivent Government Bond	Pair Corr
0.85	TBFIX	Thrivent Government Bond	Pair Corr
0.9	IILGX	Thrivent Large Cap	Pair Corr
0.88	TCAAX	Thrivent Moderately	Pair Corr
0.89	TCAIX	Thrivent Moderately	Pair Corr

Related Correlations Analysis

	DREYX	XPGZX	CREMX	FIKMX	PRKAX	NRCFX
DREYX		0.4	-0.19	0.06	0.43	0.32	DREYX
XPGZX	0.4		-0.19	-0.09	0.42	0.63	XPGZX
CREMX	-0.19	-0.19		0.95	0.65	0.37	CREMX
FIKMX	0.06	-0.09	0.95		0.73	0.44	FIKMX
PRKAX	0.43	0.42	0.65	0.73		0.76	PRKAX
NRCFX	0.32	0.63	0.37	0.44	0.76		NRCFX
	DREYX	XPGZX	CREMX	FIKMX	PRKAX	NRCFX

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

FIKMX	+ 0.95	CREMX
NRCFX	+ 0.76	PRKAX
PRKAX	+ 0.73	FIKMX
PRKAX	+ 0.65	CREMX
NRCFX	+ 0.63	XPGZX
NRCFX	+ 0.44	FIKMX

High negative correlations

CREMX	- 0.19	XPGZX
CREMX	- 0.19	DREYX
FIKMX	- 0.09	XPGZX

Risk-Adjusted Indicators

There is a big difference between Thrivent Mutual Fund performing well and Thrivent Opportunity 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 Opportunity'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
DREYX	0.70	(0.06)	(0.08)	0.02	0.96	(0.65)	1.34	(1.69)	4.21
XPGZX	0.34	(0.01)	(0.19)	(0.32)	0.49	(0.33)	0.70	(0.69)	1.89
CREMX	0.03	0.02	0.00	(1.98)	0.00	0.00	0.08	0.00	0.12
FIKMX	0.18	0.01	(0.24)	0.16	0.09	(0.23)	0.33	(0.42)	1.15
PRKAX	0.47	0.04	(0.07)	1.63	0.51	(0.56)	1.09	(0.95)	2.27
NRCFX	0.55	0.02	(0.09)	(0.43)	0.78	(0.53)	1.26	(1.25)	2.81

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