Correlation Between Thrivent Balanced and Thrivent High
Can any of the company-specific risk be diversified away by investing in both Thrivent Balanced and Thrivent High at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Thrivent Balanced and Thrivent High into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Thrivent Balanced Income and Thrivent High Income, you can compare the effects of market volatilities on Thrivent Balanced and Thrivent High and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Thrivent Balanced with a short position of Thrivent High. Check out your portfolio center. Please also check ongoing floating volatility patterns of Thrivent Balanced and Thrivent High.
Diversification Opportunities for Thrivent Balanced and Thrivent High
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Thrivent and Thrivent is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Thrivent Balanced Income and Thrivent High Income in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thrivent High Income and Thrivent Balanced is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Thrivent Balanced Income are associated (or correlated) with Thrivent High. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thrivent High Income has no effect on the direction of Thrivent Balanced i.e., Thrivent Balanced and Thrivent High go up and down completely randomly.
Pair Corralation between Thrivent Balanced and Thrivent High
Assuming the 90 days horizon Thrivent Balanced Income is expected to generate 1.32 times more return on investment than Thrivent High. However, Thrivent Balanced is 1.32 times more volatile than Thrivent High Income. It trades about 0.31 of its potential returns per unit of risk. Thrivent High Income is currently generating about -0.03 per unit of risk. If you would invest 1,349 in Thrivent Balanced Income on April 24, 2025 and sell it today you would earn a total of 90.00 from holding Thrivent Balanced Income or generate 6.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Thrivent Balanced Income vs. Thrivent High Income
Performance |
| Timeline |
| Thrivent Balanced Income |
| Thrivent High Income |
Thrivent Balanced and Thrivent High Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Thrivent Balanced and Thrivent High
The main advantage of trading using opposite Thrivent Balanced and Thrivent High positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Thrivent Balanced position performs unexpectedly, Thrivent High can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Thrivent High will offset losses from the drop in Thrivent High's long position.| Thrivent Balanced vs. United Kingdom Small | Thrivent Balanced vs. Siit Small Cap | Thrivent Balanced vs. Aqr Small Cap | Thrivent Balanced vs. Transamerica International Small |
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Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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