Mid Cap Correlations

MACGX Fund

USD 13.95 0.04 0.29%

The correlation of Mid Cap 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.

Mid Cap Correlation With Market

Good diversification

The correlation between Mid Cap Growth and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap Growth 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 Mid Cap Growth. 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 price.

Moving together with Mid Mutual Fund

0.68	TIFUX	International Fixed	Pair Corr
0.92	MADSX	Msif Advantage Port	Pair Corr
0.92	MAPPX	Advantage Portfolio Class	Pair Corr
0.99	MSCMX	Morgan Stanley Multi	Pair Corr
0.87	MSCOX	Msif Small Pany	Pair Corr
0.61	MSFEX	Frontier Markets Por	Pair Corr
0.92	MSEQX	Growth Portfolio Class	Pair Corr
0.99	MSPTX	Global Advantage Por	Pair Corr
0.88	MSSGX	Small Pany Growth	Pair Corr
0.93	MCRTX	Morgan Stanley Multi	Pair Corr
0.86	MUOCX	Msif Core Portfolio	Pair Corr
0.67	MEMLX	Msif Emerging Markets	Pair Corr
0.76	MGGPX	Global Opportunity	Pair Corr

Moving against Mid Mutual Fund

0.49	MORGX	Morgan Stanley Mortgage	Pair Corr
0.36	MGILX	Corporate Bond Portfolio	Pair Corr

Related Correlations Analysis

	CPOAX	MSEGX	MSSMX	BGSAX	ADNPX
CPOAX		0.94	0.95	0.93	0.97	CPOAX
MSEGX	0.94		0.89	0.86	0.9	MSEGX
MSSMX	0.95	0.89		0.97	0.96	MSSMX
BGSAX	0.93	0.86	0.97		0.96	BGSAX
ADNPX	0.97	0.9	0.96	0.96		ADNPX
	CPOAX	MSEGX	MSSMX	BGSAX	ADNPX

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Risk-Adjusted Indicators

There is a big difference between Mid Mutual Fund performing well and Mid Cap 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 Mid Cap'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CPOAX	1.73	(0.07)	(0.12)	3.50	(3.64)	10.09
MSEGX	1.67	(0.19)	0.53	3.14	(3.14)	10.20
MSSMX	1.73	(0.09)	(0.13)	3.77	(3.97)	9.49
BGSAX	1.50	(0.11)	(0.17)	2.62	(4.51)	9.08
ADNPX	2.26	(0.17)	(0.16)	3.90	(5.12)	13.73

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