Morgan Stanley Correlations

EDD Fund

USD 4.97 0.16 3.12%

The current 90-days correlation between Morgan Stanley Emerging and Angel Oak Financial is 0.19 (i.e., Average diversification). The correlation of Morgan Stanley 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.

Morgan Stanley Correlation With Market

Modest diversification

The correlation between Morgan Stanley Emerging and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Morgan Stanley Emerging and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Morgan Stanley Emerging. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For information on how to trade Morgan Fund refer to our How to Trade Morgan Fund guide.

Moving together with Morgan Fund

0.93	LIIAX	Columbia Porate Income	Pair Corr
0.93	SRINX	Columbia Porate Income	Pair Corr
0.95	WRHIX	Ivy High Income	Pair Corr
0.95	WHIAX	Ivy High Income	Pair Corr
0.96	IHIFX	Ivy High Income	Pair Corr
0.95	IVHIX	Ivy High Income	Pair Corr
0.92	FIVFX	Fidelity International	Pair Corr
0.92	IEYAX	Ivy Energy Fund	Pair Corr
0.97	GBOAX	Jpmorgan Global Bond	Pair Corr
0.93	FEIPX	Fa529 Eq In	Pair Corr
0.81	RPNIX	Riverpark/next Century	Pair Corr
0.93	VFINX	Vanguard 500 Index	Pair Corr
0.88	FSRFX	Transportation Portfolio Potential Growth	Pair Corr
0.95	VWENX	Vanguard Wellington	Pair Corr
0.92	ALCEX	Avantis Large Cap	Pair Corr
0.97	VGRLX	Vanguard Global Ex	Pair Corr
0.94	IDXNX	Voya Index Solution	Pair Corr
0.94	HRLTX	Hartford Global	Pair Corr
0.92	UINQX	Usaa Nasdaq 100	Pair Corr
0.88	QLEIX	Aqr Long Short	Pair Corr
0.91	PDIAX	Virtus Rampart Enhanced	Pair Corr
0.95	IOBAX	Icon Bond Fund	Pair Corr
0.86	MPIBX	Bny Mellon Intermediate	Pair Corr
0.8	IIBZX	Voya Intermediate Bond	Pair Corr
0.92	EMRIX	Emerging Markets	Pair Corr
0.87	RSVAX	Victory Rs Value	Pair Corr
0.95	HBADX	Hartford Moderate	Pair Corr
0.96	DIFGX	Mfs Diversified Income	Pair Corr
0.93	VNEYX	Vontobel Global Envi	Pair Corr
0.97	NPSFX	Nuveen Preferred Sec	Pair Corr
0.94	GWPCX	American Funds Growth	Pair Corr
0.93	VFIAX	Vanguard 500 Index	Pair Corr
0.81	FSIGX	Fidelity Series Inve	Pair Corr
0.93	SDYAX	Simt Dynamic Asset	Pair Corr
0.83	NWKEX	Nationwide Highmark Small	Pair Corr
0.93	OTCNX	Oppenheimer Cap Apprec	Pair Corr
0.91	FDAAX	Franklin Floating Rate	Pair Corr
0.89	RYEUX	Europe 125x Strategy	Pair Corr
0.94	HCMQX	Hcm Dividend Sector	Pair Corr
0.96	STISX	Federated Strategic	Pair Corr

Related Correlations Analysis

	FINS	DHF	EIM	CXH	PRIF-PL	MSD	EMD	EOD	BGY
FINS		0.28	0.73	0.52	-0.01	-0.06	0.28	0.38	0.32	FINS
DHF	0.28		0.32	0.19	0.63	0.79	0.97	0.96	0.81	DHF
EIM	0.73	0.32		0.72	-0.08	0.17	0.31	0.38	0.4	EIM
CXH	0.52	0.19	0.72		0.04	0.23	0.24	0.22	0.2	CXH
PRIF-PL	-0.01	0.63	-0.08	0.04		0.43	0.57	0.48	0.21	PRIF-PL
MSD	-0.06	0.79	0.17	0.23	0.43		0.82	0.76	0.76	MSD
EMD	0.28	0.97	0.31	0.24	0.57	0.82		0.96	0.81	EMD
EOD	0.38	0.96	0.38	0.22	0.48	0.76	0.96		0.89	EOD
BGY	0.32	0.81	0.4	0.2	0.21	0.76	0.81	0.89		BGY
	FINS	DHF	EIM	CXH	PRIF-PL	MSD	EMD	EOD	BGY

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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

EMD	+ 0.97	DHF
EOD	+ 0.96	DHF
EOD	+ 0.96	EMD
BGY	+ 0.89	EOD
EMD	+ 0.82	MSD
BGY	+ 0.81	DHF

High negative correlations

PRIF-PL	- 0.08	EIM
MSD	- 0.06	FINS
PRIF-PL	- 0.01	FINS

Risk-Adjusted Indicators

There is a big difference between Morgan Fund performing well and Morgan Stanley 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 Morgan Stanley'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
FINS	0.46	(0.02)	(0.15)	0.07	0.61	(0.47)	1.20	(1.09)	2.58
DHF	0.51	0.10	0.01	0.43	0.35	(0.65)	1.57	(0.81)	2.55
EIM	0.42	(0.04)	(0.16)	0.02	0.64	(0.45)	0.86	(1.02)	3.21
CXH	0.33	(0.05)	0.00	(0.18)	0.00	0.00	0.53	(0.93)	1.86
PRIF-PL	0.59	0.13	(0.03)	(0.69)	0.55	(0.68)	1.75	(1.13)	4.44
MSD	0.62	0.03	(0.05)	0.20	0.76	(0.63)	1.55	(1.03)	4.04
EMD	0.52	0.14	0.08	0.57	0.23	(0.63)	1.46	(0.83)	2.78
EOD	0.70	0.13	0.08	0.32	0.63	(0.85)	1.68	(1.52)	4.36
BGY	0.67	0.08	0.03	0.28	0.52	(0.83)	1.40	(0.89)	6.13

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