Global Opportunity Correlations

MSOPX Fund

USD 33.20 0.08 0.24%

The current 90-days correlation between Global Opportunity and Emerging Markets Equity is -0.16 (i.e., Good diversification). The correlation of Global 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.

Global Opportunity Correlation With Market

Good diversification

The correlation between Global Opportunity Portfolio and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global 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 Global 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 american community survey.

Moving together with GLOBAL Mutual Fund

0.93	MLMAX	Global E Portfolio	Pair Corr
0.93	MLMCX	Global E Portfolio	Pair Corr
0.91	MLNSX	Global Centrated Por	Pair Corr
0.93	MLMIX	Global E Portfolio	Pair Corr
0.93	MLMSX	Global E Portfolio	Pair Corr
0.91	MLNCX	Global Centrated Por	Pair Corr
0.91	MLNAX	Global Centrated Por	Pair Corr
0.91	MLNIX	Global Centrated Por	Pair Corr
0.86	MMCGX	Mid Cap Growth	Pair Corr
0.88	MNOPX	International Opportunity	Pair Corr
0.87	THYUX	High Yield Fund	Pair Corr
0.86	MPAIX	Advantage Portfolio Class	Pair Corr
0.86	MPEGX	Mid Cap Growth	Pair Corr
0.93	TLGUX	Large Cap Equity	Pair Corr
0.72	MRETX	Msif Real Estate	Pair Corr
0.72	MRGOX	Msif Global Infrastr	Pair Corr
0.91	MRHYX	Msift High Yield	Pair Corr
0.85	MRNPX	Msif International	Pair Corr
0.86	MAAQX	Morgan Stanley Insti	Pair Corr
0.7	MAAWX	Morgan Stanley Insti	Pair Corr

Moving against GLOBAL Mutual Fund

0.73	TIIUX	Core Fixed Income	Pair Corr
0.64	MPFDX	Corporate Bond Portfolio	Pair Corr
0.58	TILUX	Inflation Linked Fixed	Pair Corr
0.53	TIEUX	International Equity	Pair Corr
0.67	MSBOX	Corporate Bond Portfolio	Pair Corr
0.56	MSBKX	Morgan Stanley Insti	Pair Corr
0.54	MSBDX	Morgan Stanley Insti	Pair Corr
0.54	MSDFX	Morgan Stanley Insti	Pair Corr

Related Correlations Analysis

	TEMUX	DINDX	DINCX	DINAX	MLMAX	MLNSX	MLMIX	MLMSX	MLNCX
TEMUX		0.13	0.25	0.32	0.22	0.17	0.21	0.21	0.17	TEMUX
DINDX	0.13		0.86	0.95	0.1	0.06	0.1	0.1	0.06	DINDX
DINCX	0.25	0.86		0.89	-0.07	-0.1	-0.06	-0.07	-0.1	DINCX
DINAX	0.32	0.95	0.89		0.08	0.04	0.09	0.08	0.04	DINAX
MLMAX	0.22	0.1	-0.07	0.08		0.99	1.0	1.0	0.99	MLMAX
MLNSX	0.17	0.06	-0.1	0.04	0.99		0.99	0.99	1.0	MLNSX
MLMIX	0.21	0.1	-0.06	0.09	1.0	0.99		1.0	0.99	MLMIX
MLMSX	0.21	0.1	-0.07	0.08	1.0	0.99	1.0		0.99	MLMSX
MLNCX	0.17	0.06	-0.1	0.04	0.99	1.0	0.99	0.99		MLNCX
	TEMUX	DINDX	DINCX	DINAX	MLMAX	MLNSX	MLMIX	MLMSX	MLNCX

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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

MLMIX	+ 1.0	MLMAX
MLMSX	+ 1.0	MLMAX
MLNCX	+ 1.0	MLNSX
MLMSX	+ 1.0	MLMIX
MLNSX	+ 0.99	MLMAX
MLNCX	+ 0.99	MLMAX

High negative correlations

MLNCX	- 0.1	DINCX
MLNSX	- 0.1	DINCX
MLMSX	- 0.07	DINCX
MLMAX	- 0.07	DINCX
MLMIX	- 0.06	DINCX

Risk-Adjusted Indicators

There is a big difference between GLOBAL Mutual Fund performing well and Global 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 Global 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
TEMUX	0.73	(0.07)	0.00	(0.04)	0.00	0.00	1.69	(1.71)	5.15
DINDX	0.12	0.01	(0.47)	0.40	0.02	(0.22)	0.19	(0.19)	0.76
DINCX	0.12	0.00	(0.52)	0.40	0.05	(0.21)	0.19	(0.19)	0.58
DINAX	0.12	0.01	(0.46)	(0.41)	0.07	(0.22)	0.20	(0.19)	0.96
MLMAX	0.58	(0.01)	(0.04)	0.11	0.67	(0.62)	1.36	(1.27)	4.02
MLNSX	0.66	(0.02)	(0.04)	0.11	0.76	(0.72)	1.36	(1.38)	4.38
MLMIX	0.58	(0.01)	(0.04)	0.11	0.67	(0.60)	1.35	(1.30)	4.01
MLMSX	0.58	(0.01)	(0.04)	0.11	0.66	(0.61)	1.34	(1.30)	4.05
MLNCX	0.66	(0.02)	(0.04)	0.10	0.77	(0.72)	1.39	(1.42)	4.38

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