Asia Opportunity Correlations

Mutual Funds . USA . 
Fund . Asia Opportunity Portfolio
MSAUX Fund  USD 22.08  0.13  0.59%   
The current 90-days correlation between Asia Opportunity Por and Gamco Natural Resources is 0.07 (i.e., Significant diversification). The correlation of Asia Opportunity 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.

Asia Opportunity Correlation With Market

Poor diversification

The correlation between Asia Opportunity Portfolio and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Asia Opportunity 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 Asia Opportunity 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 manufacturing.

Moving together with Asia Mutual Fund

  0.84MLNSX Global Centrated PorPairCorr
  0.86MLNCX Global Centrated PorPairCorr
  0.75MLNAX Global Centrated PorPairCorr
  0.79MLNIX Global Centrated PorPairCorr
  0.93MNOPX International OpportunityPairCorr
  0.87MPAIX Advantage Portfolio ClassPairCorr
  0.93MPEGX Mid Cap GrowthPairCorr
  0.88MRNPX Msif InternationalPairCorr
  0.77MADSX Msif Advantage PortPairCorr
  0.91MACGX Mid Cap GrowthPairCorr
  0.7MSBQX Morgan Stanley InstiPairCorr
  0.71MSBWX Morgan Stanley InstiPairCorr
  0.94MSAQX Asia Opportunity PorPairCorr
  1.0MSAWX Asia Opportunity PorPairCorr

Moving against Asia Mutual Fund

  0.88DINDX Global Fixed IncomePairCorr
  0.53DINCX Global Fixed IncomePairCorr
  0.42TEMUX Emerging Markets EquityPairCorr
  0.42MMMPX Msif Emerging MarketsPairCorr
  0.42MRGEX Msif Emerging MarketsPairCorr
  0.41TIFUX International FixedPairCorr
  0.35MMKBX Emerging Markets PorPairCorr
  0.35TIIUX Core Fixed IncomePairCorr
  0.52MSDMX Morgan Stanley InstiPairCorr
  0.49MSDOX Morgan Stanley InstiPairCorr

Related Correlations Analysis


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

VENAX
+ 0.95
PEO
PSPFX
+ 0.8
XGNTX
GMOWX
+ 0.76
PSPFX
GMOWX
+ 0.76
AIWEX
AIWEX
+ 0.73
PSPFX
GMOWX
+ 0.66
XGNTX
  

High negative correlations

ALTEX
- 0.47
PEO
VENAX
- 0.36
ALTEX

Risk-Adjusted Indicators

There is a big difference between Asia Mutual Fund performing well and Asia Opportunity 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 Asia Opportunity'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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
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