Morgan Stanley Correlations

EDD Fund

USD 4.53 0.17 3.62%

The current 90-days correlation between Morgan Stanley Emerging and IHIT is 0.13 (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

Average diversification

The correlation between Morgan Stanley Emerging and DJI is 0.16 (i.e., Average 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

0.9	SWZ	Swiss Helvetia Closed	Pair Corr
0.92	IFN	India Closed	Pair Corr

Moving against Morgan Fund

0.73	CRF	Cornerstone Strategic Sell-off Trend	Pair Corr
0.68	WAMIX	Wstcm Credit Select	Pair Corr
0.68	VAADX	Virtus Convertible	Pair Corr
0.63	AMEIX	Equity Growth	Pair Corr
0.63	DFSVX	Us Small Cap	Pair Corr
0.62	PSDTX	Putnam Short Duration	Pair Corr
0.62	USPRX	Sp 500 Index	Pair Corr
0.61	VFINX	Vanguard 500 Index	Pair Corr
0.59	PRWAX	T Rowe Price	Pair Corr
0.59	VWNEX	Vanguard Windsor	Pair Corr
0.56	DFMAX	Davidson Multi Cap	Pair Corr
0.5	FMAGX	Fidelity Magellan	Pair Corr
0.48	RNGHX	New Economy Fund	Pair Corr
0.46	GOVXX	Money Market Obligations	Pair Corr
0.46	GRFXX	Money Market Obligations	Pair Corr
0.38	TNHIX	1290 High Yield	Pair Corr
0.34	PEO	Adams Natural Resources	Pair Corr
0.77	KNPAX	Kinetics Paradigm	Pair Corr
0.73	FGRIX	Fidelity Growth Income	Pair Corr
0.67	VTSAX	Vanguard Total Stock	Pair Corr
0.66	WCPSX	Mobile Telecommunicatio Steady Growth	Pair Corr
0.65	VIGAX	Vanguard Growth Index	Pair Corr
0.65	FTRNX	Fidelity Trend	Pair Corr
0.65	VIGIX	Vanguard Growth Index	Pair Corr
0.64	DODGX	Dodge Stock Fund	Pair Corr
0.63	FGB	First Trust Specialty	Pair Corr
0.61	CMGIX	Blackrock Mid Cap	Pair Corr
0.61	PLFIX	Largecap Sp 500	Pair Corr

Related Correlations Analysis

	CXH	IHTA	IHIT	MHN	CBH	DHY	CIF	HIX	EHI	EAD
CXH		0.2	0.11	0.61	0.18	0.57	0.58	0.57	0.47	0.72	CXH
IHTA	0.2		-0.51	-0.35	0.93	0.42	0.23	0.61	-0.23	0.02	IHTA
IHIT	0.11	-0.51		0.27	-0.48	-0.33	-0.07	-0.17	0.63	0.17	IHIT
MHN	0.61	-0.35	0.27		-0.38	0.35	0.62	0.19	0.54	0.79	MHN
CBH	0.18	0.93	-0.48	-0.38		0.44	0.25	0.67	-0.24	-0.04	CBH
DHY	0.57	0.42	-0.33	0.35	0.44		0.52	0.76	0.16	0.53	DHY
CIF	0.58	0.23	-0.07	0.62	0.25	0.52		0.63	0.45	0.72	CIF
HIX	0.57	0.61	-0.17	0.19	0.67	0.76	0.63		0.32	0.53	HIX
EHI	0.47	-0.23	0.63	0.54	-0.24	0.16	0.45	0.32		0.68	EHI
EAD	0.72	0.02	0.17	0.79	-0.04	0.53	0.72	0.53	0.68		EAD
	CXH	IHTA	IHIT	MHN	CBH	DHY	CIF	HIX	EHI	EAD

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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

CBH	+ 0.93	IHTA
EAD	+ 0.79	MHN
HIX	+ 0.76	DHY
EAD	+ 0.72	CXH
EAD	+ 0.72	CIF
EAD	+ 0.68	EHI

High negative correlations

IHIT	- 0.51	IHTA
CBH	- 0.48	IHIT
CBH	- 0.38	MHN
MHN	- 0.35	IHTA
DHY	- 0.33	IHIT
EHI	- 0.24	CBH

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
CXH	0.33	0.02	(0.13)	0.66	0.42	(0.36)	0.62	(0.74)	2.10
IHTA	0.23	0.04	(0.09)	1.67	0.25	(0.31)	0.68	(0.27)	2.03
IHIT	0.46	(0.05)	0.00	(2.18)	0.00	0.00	1.07	(1.18)	2.70
MHN	0.40	(0.02)	(0.14)	(0.03)	0.63	(0.36)	0.92	(1.03)	2.43
CBH	0.13	0.03	(0.26)	1.20	0.00	(0.18)	0.22	(0.22)	0.78
DHY	0.66	0.08	0.00	0.87	0.65	(0.88)	1.36	(1.37)	4.55
CIF	0.40	0.02	(0.09)	0.40	0.38	(0.66)	0.59	(0.58)	2.30
HIX	0.46	0.04	(0.08)	0.40	0.40	(0.58)	1.12	(0.69)	2.73
EHI	0.55	(0.04)	0.00	(0.11)	0.00	0.00	1.19	(1.17)	3.00
EAD	0.41	(0.01)	(0.15)	0.06	0.42	(0.51)	1.00	(0.73)	2.35

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