Emerging Markets Correlations

MSELX Fund

USD 13.51 0.77 5.39%

The current 90-days correlation between Emerging Markets Por and Global Centrated Portfolio is 0.17 (i.e., Average diversification). The correlation of Emerging Markets 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.

Emerging Markets Correlation With Market

Excellent diversification

The correlation between Emerging Markets Portfolio and DJI is -0.62 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Emerging Markets 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 Emerging Markets 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 board of governors.

Moving together with Emerging Mutual Fund

1.0	MMKBX	Emerging Markets Por	Pair Corr
1.0	MMMPX	Msif Emerging Markets	Pair Corr
1.0	MRGEX	Msif Emerging Markets	Pair Corr

Moving against Emerging Mutual Fund

0.82	MAIJX	Morgan Stanley Insti	Pair Corr
0.81	MLMAX	Global E Portfolio	Pair Corr
0.81	MLMCX	Global E Portfolio	Pair Corr
0.8	MLMSX	Global E Portfolio	Pair Corr
0.79	MLMIX	Global E Portfolio	Pair Corr
0.76	MPBAX	Global Strategist	Pair Corr
0.71	TIEUX	International Equity	Pair Corr
0.69	MLNAX	Global Centrated Por	Pair Corr
0.66	MLNSX	Global Centrated Por	Pair Corr
0.66	MLNCX	Global Centrated Por	Pair Corr
0.66	MLNIX	Global Centrated Por	Pair Corr
0.57	THYUX	High Yield Fund	Pair Corr
0.52	TEMUX	Emerging Markets Equity	Pair Corr
0.52	MRHYX	Msift High Yield	Pair Corr
0.48	DINDX	Global Fixed Income	Pair Corr
0.4	TIFUX	International Fixed	Pair Corr
0.36	MNOPX	International Opportunity	Pair Corr
0.36	MPFDX	Corporate Bond Portfolio	Pair Corr
0.33	TIIUX	Core Fixed Income	Pair Corr
0.89	MSGFX	Global Franchise Por	Pair Corr
0.85	MSDFX	Morgan Stanley Insti	Pair Corr
0.85	MSDEX	Morgan Stanley Insti	Pair Corr
0.85	MSCZX	Morgan Stanley Insti	Pair Corr
0.84	MSDKX	Morgan Stanley Insti	Pair Corr
0.83	MAIHX	Morgan Stanley Insti	Pair Corr
0.83	MSAAX	Active International	Pair Corr
0.82	MSFLX	Global Franchise Por	Pair Corr
0.77	MSDLX	Global Strategist	Pair Corr
0.55	MSACX	Active International	Pair Corr
0.5	MSDOX	Morgan Stanley Insti	Pair Corr

Related Correlations Analysis

	TEMUX	DINDX	MLMAX	MLMCX	MLNSX	MLMIX	MLMSX	MLNCX	MLNAX	MLNIX
TEMUX		0.91	0.56	0.54	0.28	0.52	0.52	0.25	0.34	0.27	TEMUX
DINDX	0.91		0.5	0.49	0.21	0.44	0.44	0.19	0.3	0.21	DINDX
MLMAX	0.56	0.5		1.0	0.83	0.91	0.91	0.82	0.95	0.83	MLMAX
MLMCX	0.54	0.49	1.0		0.84	0.91	0.91	0.83	0.96	0.83	MLMCX
MLNSX	0.28	0.21	0.83	0.84		0.95	0.95	1.0	0.89	1.0	MLNSX
MLMIX	0.52	0.44	0.91	0.91	0.95		1.0	0.94	0.87	0.95	MLMIX
MLMSX	0.52	0.44	0.91	0.91	0.95	1.0		0.94	0.87	0.95	MLMSX
MLNCX	0.25	0.19	0.82	0.83	1.0	0.94	0.94		0.89	1.0	MLNCX
MLNAX	0.34	0.3	0.95	0.96	0.89	0.87	0.87	0.89		0.89	MLNAX
MLNIX	0.27	0.21	0.83	0.83	1.0	0.95	0.95	1.0	0.89		MLNIX
	TEMUX	DINDX	MLMAX	MLMCX	MLNSX	MLMIX	MLMSX	MLNCX	MLNAX	MLNIX

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Risk-Adjusted Indicators

There is a big difference between Emerging Mutual Fund performing well and Emerging Markets 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 Emerging Markets' 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
TEMUX	0.71	0.11	0.08	0.19	0.93	(0.79)	1.65	(1.37)	6.50
DINDX	0.14	0.00	(0.13)	0.14	0.18	(0.14)	0.29	(0.40)	0.94
MLMAX	0.68	0.03	(0.01)	(0.13)	0.93	(0.66)	1.16	(1.33)	4.53
MLMCX	0.68	0.03	(0.01)	(0.13)	0.92	(0.66)	1.14	(1.30)	4.72
MLNSX	0.79	(0.04)	(0.03)	0.00	1.12	(0.71)	1.26	(1.82)	5.67
MLMIX	0.68	0.00	0.00	0.03	0.92	(0.66)	1.14	(1.34)	4.50
MLMSX	0.67	0.00	0.00	0.03	0.92	(0.66)	1.14	(1.31)	4.46
MLNCX	0.78	(0.04)	(0.03)	0.00	1.11	(0.70)	1.23	(1.83)	5.62
MLNAX	0.78	0.01	(0.03)	0.01	1.12	(0.71)	1.26	(1.85)	5.62
MLNIX	0.78	(0.04)	(0.03)	0.00	1.12	(0.71)	1.26	(1.86)	5.65

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