Asia Opportunity Correlations

MSAYX Fund

USD 23.03 0.14 0.60%

The current 90-days correlation between Asia Opportunity Por and Us Government Securities is 0.07 (i.e., Significant diversification). The correlation of Asia 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.

Asia Opportunity Correlation With Market

Good diversification

The correlation between Asia Opportunity Portfolio and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Asia Opportunity Portfolio 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 Asia Opportunity Portfolio. 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 Asia Mutual Fund

0.9	MNOPX	International Opportunity	Pair Corr
0.7	MRETX	Msif Real Estate	Pair Corr
0.78	MRGOX	Msif Global Infrastr	Pair Corr
0.62	MRLBX	Global Real Estate	Pair Corr
0.62	MRLAX	Global Real Estate	Pair Corr
0.61	MRLEX	Msif Global Real	Pair Corr
0.9	MRNPX	Msif International	Pair Corr

Moving against Asia Mutual Fund

0.54	TIIUX	Core Fixed Income	Pair Corr
0.48	TILUX	Inflation Linked Fixed	Pair Corr
0.47	MPFDX	Corporate Bond Portfolio	Pair Corr
0.46	TIFUX	International Fixed	Pair Corr

Related Correlations Analysis

	UGSDX	FISAX	RYAQX	DIPXX	SSAGX
UGSDX		0.08	0.18	0.02	0.54	UGSDX
FISAX	0.08		-0.6	-0.39	-0.04	FISAX
RYAQX	0.18	-0.6		0.75	0.57	RYAQX
DIPXX	0.02	-0.39	0.75		0.65	DIPXX
SSAGX	0.54	-0.04	0.57	0.65		SSAGX
	UGSDX	FISAX	RYAQX	DIPXX	SSAGX

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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

DIPXX	+ 0.75	RYAQX
SSAGX	+ 0.65	DIPXX
SSAGX	+ 0.57	RYAQX
SSAGX	+ 0.54	UGSDX
RYAQX	+ 0.18	UGSDX
FISAX	+ 0.08	UGSDX

High negative correlations

RYAQX	- 0.6	FISAX
DIPXX	- 0.39	FISAX
SSAGX	- 0.04	FISAX

Risk-Adjusted Indicators

There is a big difference between Asia Mutual Fund performing well and Asia 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 Asia 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
UGSDX	0.05	0.00	0.00	0.56	0.00	0.00	0.00	0.00	1.03
FISAX	0.06	(0.01)	0.00	0.48	0.00	0.00	0.13	(0.13)	0.66
RYAQX	0.70	0.04	(0.04)	(0.80)	1.33	(0.74)	1.52	(1.27)	5.23
DIPXX	0.03	0.01	0.00	(2.95)	0.00	0.00	0.00	0.00	1.01
SSAGX	0.03	0.00	(0.83)	(0.60)	0.00	(0.22)	0.10	(0.10)	0.51

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