Core Fixed Correlations

TIIUX Fund

USD 6.82 0.06 0.89%

The current 90-days correlation between Core Fixed Income and Emerging Markets Equity is 0.1 (i.e., Average diversification). The correlation of Core Fixed 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.

Core Fixed Correlation With Market

Good diversification

The correlation between Core Fixed Income and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Core Fixed Income and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Core Fixed Income. 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 employment.

Moving together with Core Mutual Fund

0.61	DINCX	Global Fixed Income	Pair Corr
0.73	TIEUX	International Equity	Pair Corr
0.96	TILUX	Inflation Linked Fixed	Pair Corr
0.99	MPFDX	Corporate Bond Portfolio	Pair Corr

Moving against Core Mutual Fund

0.79	MLNSX	Global Centrated Por	Pair Corr
0.79	MLNAX	Global Centrated Por	Pair Corr
0.79	MLNIX	Global Centrated Por	Pair Corr
0.78	MLNCX	Global Centrated Por	Pair Corr
0.77	MLMAX	Global E Portfolio	Pair Corr
0.77	MLMCX	Global E Portfolio	Pair Corr
0.77	MLMIX	Global E Portfolio	Pair Corr
0.77	MLMSX	Global E Portfolio	Pair Corr
0.76	MMCGX	Mid Cap Growth Steady Growth	Pair Corr
0.76	MPAIX	Advantage Portfolio Class	Pair Corr
0.76	MPEGX	Mid Cap Growth Steady Growth	Pair Corr
0.71	TLGUX	Large Cap Equity	Pair Corr
0.45	MNOPX	International Opportunity	Pair Corr
0.42	THYUX	High Yield Fund	Pair Corr
0.35	MRETX	Msif Real Estate	Pair Corr
0.76	MADSX	Msif Advantage Port	Pair Corr
0.76	MACGX	Mid Cap Growth Steady Growth	Pair Corr
0.76	MAPPX	Advantage Portfolio Class	Pair Corr
0.71	MAAQX	Morgan Stanley Insti	Pair Corr
0.7	MAAUX	Morgan Stanley Insti	Pair Corr
0.7	MAAOX	Morgan Stanley Insti	Pair Corr
0.69	MAADX	Morgan Stanley Insti	Pair Corr
0.49	MSAQX	Asia Opportunity Por	Pair Corr
0.49	MSAWX	Asia Opportunity Por	Pair Corr

Related Correlations Analysis

	TEMUX	DINDX	DINCX	DINAX	MLMAX	MLMCX	MLNSX	MLMIX	MLMSX	MLNCX
TEMUX		0.27	0.26	0.43	0.36	0.36	0.29	0.36	0.36	0.3	TEMUX
DINDX	0.27		0.97	0.96	0.07	0.07	0.03	0.07	0.07	0.03	DINDX
DINCX	0.26	0.97		0.95	-0.09	-0.09	-0.12	-0.09	-0.09	-0.12	DINCX
DINAX	0.43	0.96	0.95		0.07	0.07	0.02	0.07	0.07	0.02	DINAX
MLMAX	0.36	0.07	-0.09	0.07		1.0	0.99	1.0	1.0	0.99	MLMAX
MLMCX	0.36	0.07	-0.09	0.07	1.0		0.99	1.0	1.0	0.99	MLMCX
MLNSX	0.29	0.03	-0.12	0.02	0.99	0.99		0.99	0.99	1.0	MLNSX
MLMIX	0.36	0.07	-0.09	0.07	1.0	1.0	0.99		1.0	0.99	MLMIX
MLMSX	0.36	0.07	-0.09	0.07	1.0	1.0	0.99	1.0		0.99	MLMSX
MLNCX	0.3	0.03	-0.12	0.02	0.99	0.99	1.0	0.99	0.99		MLNCX
	TEMUX	DINDX	DINCX	DINAX	MLMAX	MLMCX	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

MLMCX	+ 1.0	MLMAX
MLMIX	+ 1.0	MLMAX
MLMSX	+ 1.0	MLMAX
MLMIX	+ 1.0	MLMCX
MLMSX	+ 1.0	MLMCX
MLNCX	+ 1.0	MLNSX

High negative correlations

MLNCX	- 0.12	DINCX
MLNSX	- 0.12	DINCX
MLMSX	- 0.09	DINCX
MLMIX	- 0.09	DINCX
MLMCX	- 0.09	DINCX
MLMAX	- 0.09	DINCX

Risk-Adjusted Indicators

There is a big difference between Core Mutual Fund performing well and Core Fixed 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 Core Fixed'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	0.75	(0.06)	(0.13)	(0.02)	0.94	(0.80)	1.69	(1.71)	5.15
DINDX	0.11	0.00	(0.45)	0.24	0.05	(0.21)	0.19	(0.19)	0.76
DINCX	0.12	0.00	(0.50)	0.06	0.07	(0.20)	0.19	(0.19)	0.58
DINAX	0.11	0.00	(0.44)	(0.17)	0.08	(0.22)	0.20	(0.19)	0.96
MLMAX	0.59	(0.02)	(0.04)	0.10	0.67	(0.64)	1.36	(1.27)	4.02
MLMCX	0.60	(0.02)	(0.04)	0.10	0.69	(0.66)	1.33	(1.28)	4.01
MLNSX	0.67	(0.01)	(0.02)	0.11	0.76	(0.74)	1.39	(1.38)	4.38
MLMIX	0.59	(0.02)	(0.04)	0.10	0.67	(0.62)	1.35	(1.30)	4.01
MLMSX	0.59	(0.02)	(0.04)	0.10	0.67	(0.64)	1.34	(1.30)	4.05
MLNCX	0.67	(0.01)	(0.02)	0.11	0.77	(0.74)	1.39	(1.42)	4.38

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