Advantage Portfolio Correlations

MSPRX Fund

USD 24.76 0.05 0.20%

The current 90-days correlation between Advantage Portfolio Class and Emerging Markets Equity is 0.06 (i.e., Significant diversification). The correlation of Advantage Portfolio 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.

Advantage Portfolio Correlation With Market

Poor diversification

The correlation between Advantage Portfolio Class 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 Advantage Portfolio Class 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 Advantage Portfolio Class. 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 population.

Moving together with Advantage Mutual Fund

0.76	MLNSX	Global Centrated Por	Pair Corr
0.77	MLNCX	Global Centrated Por	Pair Corr
0.82	MLNAX	Global Centrated Por	Pair Corr
0.81	MLNIX	Global Centrated Por	Pair Corr
0.94	MMCGX	Mid Cap Growth	Pair Corr
0.96	MNOPX	International Opportunity	Pair Corr
0.86	MPEGX	Mid Cap Growth	Pair Corr
0.96	MRNPX	Msif International	Pair Corr
1.0	MADSX	Msif Advantage Port	Pair Corr
0.86	MACGX	Mid Cap Growth	Pair Corr
0.69	MSBQX	Morgan Stanley Insti	Pair Corr
0.71	MSBWX	Morgan Stanley Insti	Pair Corr
0.62	MSBVX	Morgan Stanley Insti	Pair Corr
0.71	MSALX	International Advantage	Pair Corr
0.76	MSAQX	Asia Opportunity Por	Pair Corr
0.81	MSAWX	Asia Opportunity Por	Pair Corr

Moving against Advantage Mutual Fund

0.78	DINDX	Global Fixed Income	Pair Corr
0.7	DINCX	Global Fixed Income	Pair Corr
0.37	DINAX	Global Fixed Income	Pair Corr

Related Correlations Analysis

	TEMUX	DINDX	MLMAX	MLMCX	MLNSX	MLMIX	MLMSX	MLNCX	MLNAX	MLNIX
TEMUX		-0.13	0.45	0.45	0.24	0.33	0.46	0.24	0.15	0.15	TEMUX
DINDX	-0.13		-0.18	-0.22	-0.56	-0.15	-0.17	-0.58	-0.53	-0.53	DINDX
MLMAX	0.45	-0.18		1.0	0.83	0.79	1.0	0.81	0.63	0.63	MLMAX
MLMCX	0.45	-0.22	1.0		0.85	0.8	1.0	0.83	0.65	0.65	MLMCX
MLNSX	0.24	-0.56	0.83	0.85		0.7	0.82	1.0	0.87	0.87	MLNSX
MLMIX	0.33	-0.15	0.79	0.8	0.7		0.79	0.69	0.81	0.82	MLMIX
MLMSX	0.46	-0.17	1.0	1.0	0.82	0.79		0.8	0.62	0.62	MLMSX
MLNCX	0.24	-0.58	0.81	0.83	1.0	0.69	0.8		0.87	0.87	MLNCX
MLNAX	0.15	-0.53	0.63	0.65	0.87	0.81	0.62	0.87		1.0	MLNAX
MLNIX	0.15	-0.53	0.63	0.65	0.87	0.82	0.62	0.87	1.0		MLNIX
	TEMUX	DINDX	MLMAX	MLMCX	MLNSX	MLMIX	MLMSX	MLNCX	MLNAX	MLNIX

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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
MLMSX	+ 1.0	MLMAX
MLMSX	+ 1.0	MLMCX
MLNCX	+ 1.0	MLNSX
MLNIX	+ 1.0	MLNAX
MLNAX	+ 0.87	MLNSX

High negative correlations

MLNCX	- 0.58	DINDX
MLNSX	- 0.56	DINDX
MLNIX	- 0.53	DINDX
MLNAX	- 0.53	DINDX
MLMCX	- 0.22	DINDX
MLMAX	- 0.18	DINDX

Risk-Adjusted Indicators

There is a big difference between Advantage Mutual Fund performing well and Advantage Portfolio 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 Advantage Portfolio'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	0.63	0.03	(0.04)	0.32	0.75	(0.73)	1.36	(1.15)	3.42
DINDX	25.88	11.92	48.62	0.71	0.00	(27.27)	0.39	(0.26)	829.07
MLMAX	0.65	(0.02)	0.00	(0.11)	0.00	0.00	1.25	(1.66)	4.19
MLMCX	0.65	(0.03)	0.00	(0.15)	0.00	0.00	1.24	(1.62)	4.31
MLNSX	0.64	(0.05)	0.00	(0.23)	0.00	0.00	1.16	(1.64)	3.81
MLMIX	0.64	(0.08)	(0.07)	0.00	1.07	(0.56)	1.27	(1.60)	4.17
MLMSX	0.64	(0.02)	0.00	(0.11)	0.00	0.00	1.27	(1.64)	4.25
MLNCX	0.64	(0.05)	0.00	(0.26)	0.00	0.00	1.16	(1.64)	3.85
MLNAX	0.64	(0.10)	0.00	(0.03)	0.00	0.00	1.17	(1.63)	3.76
MLNIX	0.64	(0.10)	0.00	(0.02)	0.00	0.00	1.16	(1.64)	3.78

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