Morgan Stanley Correlations

MISXX Fund

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The current 90-days correlation between Morgan Stanley Insti and Oklahoma Municipal Fund is 0.01 (i.e., Significant 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Morgan Stanley Correlation With Market

Good diversification

The correlation between Morgan Stanley Institutional and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Morgan Stanley Institutional 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 Morgan Stanley Institutional. Also, note that the market value of any money market fund could be closely tied with the direction of predictive economic indicators such as signals in interest.

For more information on how to buy Morgan Money Market Fund please use our How to Invest in Morgan Stanley guide.

Moving together with Morgan Money Market Fund

0.75	VTSAX	Vanguard Total Stock	Pair Corr
0.73	VFIAX	Vanguard 500 Index	Pair Corr
0.75	VTSMX	Vanguard Total Stock	Pair Corr
0.75	VITSX	Vanguard Total Stock	Pair Corr
0.75	VSTSX	Vanguard Total Stock	Pair Corr
0.75	VSMPX	Vanguard Total Stock	Pair Corr
0.73	VFINX	Vanguard 500 Index	Pair Corr
0.73	VFFSX	Vanguard 500 Index	Pair Corr
0.8	MBCZX	Massmutual Select Blue Potential Growth	Pair Corr
0.74	DTGRX	Dreyfus Technology Growth	Pair Corr
0.8	AFOZX	Alger Funds Mid	Pair Corr
0.74	AULDX	Ultra Fund R6	Pair Corr
0.85	PSDSX	Palmer Square Ultra	Pair Corr
0.75	HGOSX	Hartford Growth	Pair Corr
0.66	PAGRX	Aggressive Growth	Pair Corr
0.8	ETCEX	Eventide Exponential	Pair Corr
0.8	AFRFX	Invesco Floating Rate	Pair Corr
0.77	WUSRX	Wells Fargo Ultra	Pair Corr
0.79	CFSIX	Touchstone Sands Capital	Pair Corr
0.63	PHSKX	Virtus Kar Mid	Pair Corr
0.8	HAGAX	Eagle Mid Cap	Pair Corr
0.81	MLPGX	Oppenheimer Steelpath Mlp	Pair Corr
0.75	HGOVX	Hartford Growth	Pair Corr
0.85	RFXIX	Rational Special Sit	Pair Corr
0.72	DSHZX	Brinker Capital Dest	Pair Corr
0.84	TPZ	Tortoise Capital Series	Pair Corr
0.61	CVVRX	Columbia Small Cap	Pair Corr
0.84	LMOFX	Miller Opportunity Trust	Pair Corr
0.76	ASG	Liberty All Star	Pair Corr
0.74	SGYAX	Siit High Yield	Pair Corr
0.72	CFNDX	Cargile Fund	Pair Corr
0.8	AFOIX	Alger Mid Cap	Pair Corr
0.78	FRSGX	Franklin Small Mid	Pair Corr
0.74	CADVX	Calamos Dividend Growth	Pair Corr

Moving against Morgan Money Market Fund

0.8	VGTSX	Vanguard Total Inter	Pair Corr
0.8	VTIAX	Vanguard Total Inter	Pair Corr
0.77	NHS	Neuberger Berman High	Pair Corr
0.51	PFHCX	Pacific Funds Small	Pair Corr

Related Correlations Analysis

	OKMUX	GABTX	MDMTX	ICAXX	MSTPX	TIMTX	ABIMX
OKMUX		0.18	0.98	0.0	0.97	0.97	0.97	OKMUX
GABTX	0.18		0.31	0.0	0.31	0.35	0.23	GABTX
MDMTX	0.98	0.31		0.0	0.98	0.99	0.97	MDMTX
ICAXX	0.0	0.0	0.0		0.0	0.0	0.0	ICAXX
MSTPX	0.97	0.31	0.98	0.0		0.98	0.98	MSTPX
TIMTX	0.97	0.35	0.99	0.0	0.98		0.98	TIMTX
ABIMX	0.97	0.23	0.97	0.0	0.98	0.98		ABIMX
	OKMUX	GABTX	MDMTX	ICAXX	MSTPX	TIMTX	ABIMX

Click cells to compare fundamentals

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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

TIMTX	+ 0.99	MDMTX
MDMTX	+ 0.98	OKMUX
MSTPX	+ 0.98	MDMTX
TIMTX	+ 0.98	MSTPX
ABIMX	+ 0.98	MSTPX
ABIMX	+ 0.98	TIMTX

High negative correlations

ABIMX	- 0.0	ICAXX
TIMTX	- 0.0	ICAXX
MSTPX	- 0.0	ICAXX
ICAXX	- 0.0	MDMTX
ICAXX	- 0.0	GABTX
ICAXX	- 0.0	OKMUX

Risk-Adjusted Indicators

There is a big difference between Morgan Money Market Fund performing well and Morgan Stanley Money Market 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	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
OKMUX	0.19	(0.04)	0.95	0.00	0.00	0.29	(0.56)	2.00
GABTX	0.49	0.01	0.05	0.69	(0.50)	0.96	(1.04)	3.64
MDMTX	0.19	(0.03)	0.96	0.00	0.00	0.38	(0.57)	1.71
ICAXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTPX	0.13	(0.03)	1.24	0.00	0.00	0.30	(0.50)	1.30
TIMTX	0.18	(0.03)	0.69	0.00	0.00	0.37	(0.37)	1.49
ABIMX	0.23	(0.04)	1.23	0.00	0.00	0.40	(0.51)	1.84

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