Advantage Portfolio Correlations

Mutual Funds . USA . 
Fund . Advantage Portfolio Class
MPAIX Fund  USD 23.79  0.22  0.93%   
The current 90-days correlation between Advantage Portfolio Class and Growth Portfolio Class is -0.09 (i.e., Good diversification). The correlation of Advantage Portfolio 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.

Advantage Portfolio Correlation With Market

Good diversification

The correlation between Advantage Portfolio Class and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Advantage Portfolio Class 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 Advantage Portfolio Class. 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 gross domestic product.

Moving together with Advantage Mutual Fund

  0.88MLMCX Global E PortfolioPairCorr
  0.86MLNSX Global Centrated PorPairCorr
  0.87MLMIX Global E PortfolioPairCorr
  0.89MLMSX Global E PortfolioPairCorr
  0.85MLNAX Global Centrated PorPairCorr
  0.87MLNIX Global Centrated PorPairCorr
  0.99MMCGX Mid Cap Growth Steady GrowthPairCorr
  0.78THYUX High Yield FundPairCorr
  0.97MPEGX Mid Cap Growth Steady GrowthPairCorr
  0.9TLGUX Large Cap EquityPairCorr
  0.82MRHYX Msift High YieldPairCorr
  0.83MAAQX Morgan Stanley InstiPairCorr
  0.83MAAUX Morgan Stanley InstiPairCorr
  0.98MADSX Msif Advantage PortPairCorr
  0.97MACGX Mid Cap Growth Steady GrowthPairCorr

Moving against Advantage Mutual Fund

  0.77TIIUX Core Fixed IncomePairCorr
  0.72TIEUX International EquityPairCorr
  0.71MPFDX Corporate Bond PortfolioPairCorr
  0.69TILUX Inflation Linked FixedPairCorr
  0.74MSBOX Corporate Bond PortfolioPairCorr
  0.74MSDKX Morgan Stanley InstiPairCorr
  0.67MSBKX Morgan Stanley InstiPairCorr
  0.38MRJCX Real Assets PortfolioPairCorr
  0.37MRJAX Real Assets PortfolioPairCorr

Related Correlations Analysis

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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   
CPODX
+ 0.98
MSEQX
MGGIX
+ 0.87
MSEQX
CPODX
+ 0.86
MGGIX
MSFAX
+ 0.44
MGGIX
MSFAX
+ 0.43
MFAIX
MFAIX
+ 0.25
MGGIX
  
High negative correlations   
CPODX
- 0.16
MFAIX
MFAIX
- 0.16
MSEQX

Risk-Adjusted Indicators

There is a big difference between Advantage Mutual Fund performing well and Advantage Portfolio 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 Advantage Portfolio'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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