Global Advantage Correlations

MIGIX Fund

USD 17.18 0.11 0.64%

The current 90-days correlation between Global Advantage Por and Morgan Stanley Multi is 0.02 (i.e., Significant diversification). The correlation of Global Advantage 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.

Global Advantage Correlation With Market

Very weak diversification

The correlation between Global Advantage Portfolio and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Advantage 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 Global Advantage 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 gross domestic product.

Moving together with Global Mutual Fund

0.91	MLMCX	Global E Portfolio	Pair Corr
0.9	MLMSX	Global E Portfolio	Pair Corr
0.99	MMCGX	Mid Cap Growth Steady Growth	Pair Corr
0.95	MPEGX	Mid Cap Growth Steady Growth	Pair Corr
0.99	MACGX	Mid Cap Growth Steady Growth	Pair Corr
1.0	MSCMX	Morgan Stanley Multi Steady Growth	Pair Corr
1.0	MSEGX	Growth Portfolio Class Steady Growth	Pair Corr
0.95	MSEQX	Growth Portfolio Class Steady Growth	Pair Corr
0.75	MSJSX	Morgan Stanley Global	Pair Corr
0.99	MSKLX	Mid Cap Growth Steady Growth	Pair Corr
0.99	MSMFX	Msift Mid Cap Steady Growth	Pair Corr
0.92	MSSGX	Small Pany Growth Steady Growth	Pair Corr
0.92	MSSMX	Small Pany Growth Steady Growth	Pair Corr
0.92	MSSLX	Small Pany Growth Steady Growth	Pair Corr
0.75	MSVEX	Morgan Stanley Vitality	Pair Corr
0.74	MSVDX	Morgan Stanley Vitality	Pair Corr
0.95	MUOCX	Msif Core Portfolio	Pair Corr

Moving against Global Mutual Fund

0.33	TILUX	Inflation Linked Fixed	Pair Corr
0.46	USGDX	Morgan Stanley Government	Pair Corr
0.46	USGAX	Morgan Stanley Government	Pair Corr
0.35	MUAIX	Ultra Short Income	Pair Corr
0.34	MULSX	Ultra Short Income	Pair Corr

Related Correlations Analysis

	CPODX	MIGPX	MGGIX	MSPTX	MSEQX
CPODX		0.95	0.73	0.95	1.0	CPODX
MIGPX	0.95		0.81	1.0	0.95	MIGPX
MGGIX	0.73	0.81		0.81	0.76	MGGIX
MSPTX	0.95	1.0	0.81		0.95	MSPTX
MSEQX	1.0	0.95	0.76	0.95		MSEQX
	CPODX	MIGPX	MGGIX	MSPTX	MSEQX

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Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Advantage 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 Global Advantage'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	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
CPODX	1.81	(0.14)	(2.24)	0.00	0.00	3.52	(3.63)	10.11
MIGPX	1.83	(0.15)	(0.09)	0.00	0.00	3.73	(3.16)	10.86
MGGIX	1.03	0.00	0.00	1.48	(1.01)	1.83	(2.22)	5.56
MSPTX	1.82	(0.15)	(0.09)	0.00	0.00	3.68	(3.16)	10.84
MSEQX	1.76	(0.14)	(4.01)	0.00	0.00	3.23	(3.26)	10.20

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