Projected Return Density against MarketAssuming 30 trading days horizon, the fund has beta cooficient of 1.29 . This entails as the benchmark fluctuates upward, the company is expected to outperform it on average. However, if the benchmark returns are expected to be negative, Thornburg will likely underperform. In addition to that, Thornburg Core Growth R3 has alpha of 1.29 implying that it can potentially generate 1.29% excess return over S&P 500 after adjusting for the inherited market risk (beta). Assuming 30 trading days horizon, the coefficient of variation of Thornburg is 184.8. The daily returns are destributed with a variance of 0.56 and standard deviation of 0.75. The mean deviation of Thornburg Core Growth R3 is currently at 0.59. For similar time horizon, the selected benchmark (S&P 500) has volatility of 0.55
Actual Return VolatilityThornburg Core Growth R3 shows 0.75% volatility of returns over 30 trading days. S&P 500 shows 0.55% volatility of returns over 30 trading days.
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Thornburg Core Growth R3 has a volatility of 0.73 and is 1.33 times more volatile than S&P 500. 9% of all equities and portfolios are less risky than Thornburg. Compared with the overall equity markets, volatility of historical daily returns of Thornburg Core Growth R3 is lower than 9 (%) of all global equities and portfolios over the last 30 days. Use Thornburg Core Growth R3 to enhance returns of your portfolios. The fund experiences normal upward fluctuation. As market goes up, the company is expected to significantly outperform it. However, if the market returns are negative, Thornburg will likely underperform.
Thornburg correlation with market
Thornburg Current Risk Indicators
Suggested Divercification Pairs