Global Advantage Correlations

Mutual Funds . USA . 
Fund . Global Advantage Portfolio
MIGIX Fund  USD 20.46  0.07  0.34%   
The current 90-days correlation between Global Advantage Por and Morgan Stanley Multi is 0.99 (i.e., No risk reduction). The correlation of Global Advantage 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 Advantage Correlation With Market

Poor diversification

The correlation between Global Advantage Portfolio and DJI is 0.7 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Advantage 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 Advantage 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 gross domestic product.

Moving together with Global Mutual Fund

  0.97TEMUX Emerging Markets EquityPairCorr
  0.84DINDX Global Fixed IncomePairCorr
  0.81DINCX Global Fixed IncomePairCorr
  0.84DINAX Global Fixed IncomePairCorr
  0.98MLMAX Global E PortfolioPairCorr
  0.98MLMCX Global E PortfolioPairCorr
  0.99MLNSX Global Centrated PorPairCorr
  0.98MLMIX Global E PortfolioPairCorr
  0.98MLMSX Global E PortfolioPairCorr
  0.99MLNCX Global Centrated PorPairCorr
  0.99MLNAX Global Centrated PorPairCorr
  0.99MLNIX Global Centrated PorPairCorr
  0.99MMCGX Mid Cap GrowthPairCorr
  0.98MMKBX Emerging Markets PorPairCorr
  0.98MMMPX Msif Emerging MarketsPairCorr
  0.97MNOPX International OpportunityPairCorr
  0.97THYUX High Yield FundPairCorr
  0.97TIEUX International EquityPairCorr
  0.64TIIUX Core Fixed IncomePairCorr
  0.63TILUX Inflation Linked FixedPairCorr
  0.8MORGX Morgan Stanley MortgagePairCorr
  0.99MPAIX Advantage Portfolio ClassPairCorr
  0.97MPBAX Global StrategistPairCorr
  0.82MPFDX Corporate Bond PortfolioPairCorr
  0.99MPEGX Mid Cap GrowthPairCorr
  0.98MRGEX Msif Emerging MarketsPairCorr
  0.74MRJCX Real Assets PortfolioPairCorr
  0.75MRJAX Real Assets PortfolioPairCorr
  0.75MRJIX Real Assets PortfolioPairCorr
  0.97MRHYX Msift High YieldPairCorr
  0.76MRJSX Real Assets PortfolioPairCorr
  0.97MRNPX Msif InternationalPairCorr
  0.94MAAQX Morgan Stanley InstiPairCorr
  0.94MAAUX Morgan Stanley InstiPairCorr
  0.94MAADX Morgan Stanley InstiPairCorr
  0.94MAAOX Morgan Stanley InstiPairCorr
  0.99MADSX Msif Advantage PortPairCorr
  0.99MACGX Mid Cap GrowthPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Advantage 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 Advantage'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.

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