Thrivent High Correlations

Mutual Funds . USA . 
Fund . Thrivent High Yield
LBHYX Fund  USD 4.27  0.01  0.23%   
The current 90-days correlation between Thrivent High Yield and William Blair Emerging is 0.67 (i.e., Poor 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

Average diversification

The correlation between Thrivent High Yield and DJI is 0.14 (i.e., Average 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 manufacturing.

Moving together with Thrivent Mutual Fund

  0.89TWAIX Thrivent Partner WorPairCorr
  0.97THMAX Thrivent ModeratePairCorr
  0.94AAAGX Thrivent Large CapPairCorr
  0.98AABFX Thrivent Balanced IncomePairCorr
  0.97AAHYX Thrivent DiversifiedPairCorr
  0.96AALGX Thrivent Large CapPairCorr
  0.94AASCX Thrivent Mid CapPairCorr
  0.96AASMX Thrivent Small CapPairCorr
  0.94IBBFX Thrivent Balanced IncomePairCorr
  0.97TMAFX Thrivent ModeratelyPairCorr
  0.97TMAAX Thrivent ModeratelyPairCorr
  0.9TMCGX Turner Emerging GrowthPairCorr
  0.96LBHIX Thrivent High YieldPairCorr
  0.9LBLAX Thrivent Limited MaturityPairCorr
  0.95TSCGX Thrivent Small CapPairCorr
  0.98TCAAX Thrivent ModeratelyPairCorr
  0.95VWEAX Vanguard High YieldPairCorr
  0.97VWEHX Vanguard High YieldPairCorr
  0.98BHYCX Blackrock Hi YldPairCorr
  0.95BHYIX Blackrock High YieldPairCorr
  0.95BHYSX Blackrock Hi YldPairCorr
  0.98BHYAX Blackrock High YieldPairCorr
  0.95FAHHX American Funds AmericanPairCorr
  0.95FTAHX American Funds AmericanPairCorr
  0.95AHTFX American High IncomePairCorr
  0.98AHTCX American High IncomePairCorr
  0.88ASG Liberty All StarPairCorr
  0.83IIF Morgan Stanley IndiaPairCorr
  0.91CII Blackrock EnhancedPairCorr
  0.87IFN India ClosedPairCorr
  0.86ETV Eaton Vance TaxPairCorr
  0.81CLM Cornerstone StrategicPairCorr
  0.84CRF Cornerstone StrategicPairCorr
  0.88USA Liberty All StarPairCorr
  0.92ETY Eaton Vance TaxPairCorr
  0.94NFJ Virtus Dividend InterestPairCorr
  0.92SLWGX Slow Capital GrowthPairCorr
  0.9PFN Pimco Income StrategyPairCorr
  0.91OGLYX Oppenheimer GlobalPairCorr

Related Correlations Analysis

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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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