Small Pany Correlations

MSSLX Fund

USD 8.01 0.04 0.50%

The current 90-days correlation between Small Pany Growth and Pace Municipal Fixed is 0.02 (i.e., Significant diversification). The correlation of Small Pany 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.

Small Pany Correlation With Market

Very good diversification

The correlation between Small Pany Growth and DJI is -0.39 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Pany Growth 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 Small Pany Growth. 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 Small Mutual Fund

0.91	MPAIX	Advantage Portfolio Class	Pair Corr
0.86	MPEGX	Mid Cap Growth	Pair Corr
0.81	MACGX	Mid Cap Growth	Pair Corr
0.87	MAPPX	Advantage Portfolio Class	Pair Corr
0.93	MSCOX	Msif Small Pany	Pair Corr
0.8	MSEGX	Growth Portfolio Class	Pair Corr
0.84	MSEQX	Growth Portfolio Class	Pair Corr
0.67	MSFBX	Global Franchise Por	Pair Corr
0.85	MSHLX	Growth Portfolio Class	Pair Corr
0.81	MSGUX	Growth Portfolio Class	Pair Corr
0.91	MSPTX	Global Advantage Por	Pair Corr
1.0	MSSGX	Small Pany Growth	Pair Corr
0.93	MSSMX	Small Pany Growth	Pair Corr
0.91	MBIRX	Morgan Stanley Insight	Pair Corr

Moving against Small Mutual Fund

0.65	TMUUX	Municipal Bond	Pair Corr
0.58	MRHYX	Msift High Yield	Pair Corr
0.58	MAIJX	Morgan Stanley Insti	Pair Corr
0.52	MPBAX	Global Strategist	Pair Corr
0.49	MPFDX	Corporate Bond Portfolio	Pair Corr
0.32	MSFLX	Global Franchise Por	Pair Corr
0.56	MBAAX	Global Strategist	Pair Corr
0.51	MSSOX	Global Strategist	Pair Corr
0.51	MUAIX	Ultra Short Income	Pair Corr
0.51	MUIIX	Ultra Short Income	Pair Corr
0.49	MULSX	Ultra Short Income	Pair Corr
0.43	MGKAX	Morgan Stanley Global	Pair Corr
0.43	JGMAX	Janus Triton	Pair Corr
0.41	JGMIX	Janus Triton	Pair Corr
0.41	JGMCX	Janus Triton	Pair Corr

Related Correlations Analysis

	FYMNX	FAFMX	TWTIX	BCHIX	GABTX	TIMTX	PCMNX
FYMNX		0.94	0.99	0.96	0.89	0.98	0.95	FYMNX
FAFMX	0.94		0.94	0.92	0.81	0.89	0.88	FAFMX
TWTIX	0.99	0.94		0.94	0.87	0.98	0.98	TWTIX
BCHIX	0.96	0.92	0.94		0.86	0.96	0.9	BCHIX
GABTX	0.89	0.81	0.87	0.86		0.89	0.87	GABTX
TIMTX	0.98	0.89	0.98	0.96	0.89		0.97	TIMTX
PCMNX	0.95	0.88	0.98	0.9	0.87	0.97		PCMNX
	FYMNX	FAFMX	TWTIX	BCHIX	GABTX	TIMTX	PCMNX

Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small Pany 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 Small Pany'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
FYMNX	0.07	0.00	(0.56)	0.00	0.00	(0.14)	0.19	(0.09)	0.66
FAFMX	0.07	0.00	(0.56)	0.18	0.00	(0.13)	0.19	(0.09)	0.75
TWTIX	0.07	0.02	(0.47)	6.22	0.00	(0.15)	0.19	(0.09)	0.65
BCHIX	0.07	0.00	(0.43)	0.32	0.00	(0.14)	0.10	(0.10)	0.83
GABTX	0.67	0.08	0.03	0.31	0.62	(0.75)	1.51	(1.22)	6.53
TIMTX	0.07	0.02	(0.49)	6.74	0.00	(0.12)	0.19	(0.09)	0.56
PCMNX	0.06	0.02	(0.47)	(2.78)	0.00	(0.10)	0.16	(0.08)	0.48

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