Morgan Stanley Correlations

IIF Fund

USD 28.54 0.24 0.85%

The current 90-days correlation between Morgan Stanley India and Aberdeen Income Credit is 0.11 (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

Very weak diversification

The correlation between Morgan Stanley India and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Morgan Stanley India and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Morgan Stanley India. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

For more detail on how to invest in Morgan Fund please use our How to Invest in Morgan Stanley guide.

Moving together with Morgan Fund

0.66	NHS	Neuberger Berman High	Pair Corr
0.7	VTWNX	Vanguard Target Reti	Pair Corr
0.84	BXEAX	Barings Emerging Markets	Pair Corr

Moving against Morgan Fund

0.46	FSRBX	Banking Portfolio Banking	Pair Corr
0.41	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.41	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
0.33	PFHCX	Pacific Funds Small	Pair Corr

Related Correlations Analysis

	ACP	BUI	IAF	ISD	CAF	CEE	AJMPF	NOM	FNCSF	FNNCF
ACP		0.44	0.26	0.62	0.63	0.46	0.34	0.25	0.83	0.55	ACP
BUI	0.44		0.77	0.33	0.39	-0.12	-0.36	0.76	0.2	-0.07	BUI
IAF	0.26	0.77		0.16	0.23	0.08	-0.17	0.71	0.14	0.01	IAF
ISD	0.62	0.33	0.16		0.58	0.28	0.16	0.02	0.52	0.31	ISD
CAF	0.63	0.39	0.23	0.58		0.1	0.04	0.29	0.46	0.19	CAF
CEE	0.46	-0.12	0.08	0.28	0.1		0.85	-0.27	0.58	0.75	CEE
AJMPF	0.34	-0.36	-0.17	0.16	0.04	0.85		-0.49	0.62	0.78	AJMPF
NOM	0.25	0.76	0.71	0.02	0.29	-0.27	-0.49		-0.06	-0.22	NOM
FNCSF	0.83	0.2	0.14	0.52	0.46	0.58	0.62	-0.06		0.78	FNCSF
FNNCF	0.55	-0.07	0.01	0.31	0.19	0.75	0.78	-0.22	0.78		FNNCF
	ACP	BUI	IAF	ISD	CAF	CEE	AJMPF	NOM	FNCSF	FNNCF

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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

AJMPF	+ 0.85	CEE
FNCSF	+ 0.83	ACP
FNNCF	+ 0.78	AJMPF
FNNCF	+ 0.78	FNCSF
IAF	+ 0.77	BUI
NOM	+ 0.76	BUI

High negative correlations

NOM	- 0.49	AJMPF
AJMPF	- 0.36	BUI
NOM	- 0.27	CEE
FNNCF	- 0.22	NOM
AJMPF	- 0.17	IAF
CEE	- 0.12	BUI

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
ACP	0.43	0.05	(0.08)	0.44	0.39	(0.57)	0.98	(0.80)	3.29
BUI	0.54	0.03	(0.08)	0.31	0.71	(0.55)	1.27	(1.11)	3.44
IAF	0.71	(0.02)	(0.10)	0.07	0.74	(0.94)	1.86	(1.36)	4.24
ISD	0.53	(0.02)	(0.13)	0.06	0.74	(0.51)	1.02	(1.30)	3.07
CAF	1.79	0.12	(0.01)	(0.59)	2.54	(1.95)	4.81	(3.72)	19.41
CEE	1.10	0.07	0.05	0.20	1.11	(1.25)	2.52	(1.75)	13.97
AJMPF	0.90	0.27	0.00	(1.03)	0.00	0.00	0.00	0.00	23.90
NOM	0.62	0.01	(0.13)	0.01	0.85	(0.63)	1.41	(1.45)	4.13
FNCSF	1.48	0.68	0.15	(0.82)	0.84	(3.65)	7.23	(2.08)	12.12
FNNCF	1.24	0.35	0.10	31.21	1.12	(2.32)	2.99	(2.33)	10.63

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