International Opportunity Correlations

Mutual Funds . USA . 
Fund . International Opportunity Portfolio
MIOPX Fund  USD 28.45  0.56  1.93%   
The current 90-days correlation between International Opportunity and Global Opportunity Portfolio is -0.11 (i.e., Good diversification). The correlation of International Opportunity 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.

International Opportunity Correlation With Market

Good diversification

The correlation between International Opportunity Port and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Opportunity Port 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 International Opportunity 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 american community survey.

Moving together with International Mutual Fund

  0.82TEMUX Emerging Markets EquityPairCorr
  0.61MLMSX Global E PortfolioPairCorr
  0.65MLNAX Global Centrated PorPairCorr
  0.82MMKBX Emerging Markets PorPairCorr
  0.82MMMPX Msif Emerging MarketsPairCorr
  0.91MNOPX International OpportunityPairCorr
  0.7THYUX High Yield FundPairCorr
  0.61MPFDX Corporate Bond PortfolioPairCorr
  0.67MRJCX Real Assets PortfolioPairCorr
  0.78MRHYX Msift High YieldPairCorr
  0.67MRJSX Real Assets PortfolioPairCorr
  0.91MRNPX Msif InternationalPairCorr
  0.64MSACX Active InternationalPairCorr
  0.67MSAQX Asia Opportunity PorPairCorr
  0.66MSAWX Asia Opportunity PorPairCorr
  0.91MSEEX Morgan Stanley EuropeanPairCorr
  0.72MSECX Msif Intl EquityPairCorr
  0.65MSHOX Morgan Stanley InstiPairCorr
  0.66MSIBX Active InternationalPairCorr
  0.73MSHDX High Yield PortfolioPairCorr
  0.65MSLLX Active InternationalPairCorr
  0.71MSQLX International EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between International Mutual Fund performing well and International Opportunity 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 International Opportunity'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.

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