International Advantage Correlations

Mutual Funds . USA . 
Fund . International Advantage Portfolio
MSALX Fund  USD 25.23  0.25  0.98%   
The current 90-days correlation between International Advantage and Prudential Real Estate is -0.01 (i.e., Good diversification). The correlation of International 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.

International Advantage Correlation With Market

Poor diversification

The correlation between International Advantage Portfo and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Advantage Portfo 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 International 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 bureau of economic analysis.

Moving together with International Mutual Fund

  0.95TEMUX Emerging Markets EquityPairCorr
  0.77DINDX Global Fixed IncomePairCorr
  0.73DINCX Global Fixed IncomePairCorr
  0.78DINAX Global Fixed IncomePairCorr
  0.96MLMAX Global E PortfolioPairCorr
  0.96MLMCX Global E PortfolioPairCorr
  0.98MLNSX Global Centrated PorPairCorr
  0.98MLMIX Global E PortfolioPairCorr
  0.98MLMSX Global E PortfolioPairCorr
  0.98MLNCX Global Centrated PorPairCorr
  0.97MLNAX Global Centrated PorPairCorr
  0.98MLNIX Global Centrated PorPairCorr
  0.96MMCGX Mid Cap GrowthPairCorr
  0.97MMKBX Emerging Markets PorPairCorr
  0.97MMMPX Msif Emerging MarketsPairCorr
  1.0MNOPX International OpportunityPairCorr
  0.93THYUX High Yield FundPairCorr
  0.97TIEUX International EquityPairCorr
  0.75MORGX Morgan Stanley MortgagePairCorr
  0.96MPAIX Advantage Portfolio ClassPairCorr
  0.94MPBAX Global StrategistPairCorr
  0.75MPFDX Corporate Bond PortfolioPairCorr
  0.95MPEGX Mid Cap GrowthPairCorr
  0.97MRGEX Msif Emerging MarketsPairCorr
  0.66MRJCX Real Assets PortfolioPairCorr
  0.72MRJAX Real Assets PortfolioPairCorr
  0.72MRJIX Real Assets PortfolioPairCorr
  0.93MRHYX Msift High YieldPairCorr
  0.69MRJSX Real Assets PortfolioPairCorr
  0.98MRNPX Msif InternationalPairCorr
  0.94MAAQX Morgan Stanley InstiPairCorr
  0.94MAAUX Morgan Stanley InstiPairCorr
  0.94MAADX Morgan Stanley InstiPairCorr
  0.95MAAOX Morgan Stanley InstiPairCorr
  0.96MADSX Msif Advantage PortPairCorr
  0.95MACGX Mid Cap GrowthPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between International Mutual Fund performing well and International 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 International 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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