Global Concentrated Correlations

MLNCX Fund

USD 22.12 0.41 1.82%

The current 90-days correlation between Global Centrated Por and Mid Cap Growth is 0.91 (i.e., Almost no diversification). The correlation of Global Concentrated 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 Concentrated Correlation With Market

Poor diversification

The correlation between Global Centrated Portfolio and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Global Centrated 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 Centrated 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 main economic indicators.

Moving together with Global Mutual Fund

0.97	MLMCX	Global E Portfolio	Pair Corr
0.97	MLMSX	Global E Portfolio	Pair Corr
0.83	MMCGX	Mid Cap Growth	Pair Corr
0.8	MPEGX	Mid Cap Growth	Pair Corr
0.69	MRHYX	Msift High Yield	Pair Corr
0.74	MRNPX	Msif International	Pair Corr
0.82	MACGX	Mid Cap Growth	Pair Corr
0.79	MSCMX	Morgan Stanley Multi	Pair Corr
0.81	MSEGX	Growth Portfolio Class	Pair Corr
0.78	MSEQX	Growth Portfolio Class	Pair Corr
0.76	MSHDX	High Yield Portfolio	Pair Corr
0.7	MSJSX	Morgan Stanley Global	Pair Corr
0.82	MSKLX	Mid Cap Growth	Pair Corr
0.82	MSMFX	Msift Mid Cap	Pair Corr
0.63	MSSGX	Small Pany Growth	Pair Corr
0.63	MSSMX	Small Pany Growth	Pair Corr
0.63	MSSLX	Small Pany Growth	Pair Corr
0.72	MSSOX	Global Strategist	Pair Corr
0.72	EUGDX	Morgan Stanley European	Pair Corr
0.73	EUGCX	Morgan Stanley European	Pair Corr
0.72	EUGAX	Morgan Stanley European	Pair Corr
0.85	MUOCX	Msif Core Portfolio	Pair Corr
0.78	IDVSX	Msif International	Pair Corr

Related Correlations Analysis

	TEGAX	PIGDX	UPDDX	TFAGX	GGRYX	PAGLX	GCIGX
TEGAX		-0.06	0.82	0.89	0.58	0.96	-0.15	TEGAX
PIGDX	-0.06		0.01	0.02	0.71	0.11	0.88	PIGDX
UPDDX	0.82	0.01		0.95	0.61	0.86	-0.04	UPDDX
TFAGX	0.89	0.02	0.95		0.63	0.9	-0.01	TFAGX
GGRYX	0.58	0.71	0.61	0.63		0.74	0.62	GGRYX
PAGLX	0.96	0.11	0.86	0.9	0.74		0.03	PAGLX
GCIGX	-0.15	0.88	-0.04	-0.01	0.62	0.03		GCIGX
	TEGAX	PIGDX	UPDDX	TFAGX	GGRYX	PAGLX	GCIGX

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

PAGLX	+ 0.96	TEGAX
TFAGX	+ 0.95	UPDDX
PAGLX	+ 0.9	TFAGX
TFAGX	+ 0.89	TEGAX
GCIGX	+ 0.88	PIGDX
PAGLX	+ 0.86	UPDDX

High negative correlations

GCIGX	- 0.15	TEGAX
PIGDX	- 0.06	TEGAX
GCIGX	- 0.04	UPDDX
GCIGX	- 0.01	TFAGX

Risk-Adjusted Indicators

There is a big difference between Global Mutual Fund performing well and Global Concentrated 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 Concentrated'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
TEGAX	1.37	(0.08)	0.00	(0.06)	0.00	0.00	2.29	(3.45)	7.24
PIGDX	0.80	0.07	0.06	0.09	1.02	(0.83)	1.84	(1.62)	7.09
UPDDX	2.03	(0.07)	0.00	0.17	0.00	0.00	3.22	(5.01)	15.30
TFAGX	1.02	(0.08)	0.00	0.46	0.00	0.00	1.73	(2.74)	5.37
GGRYX	0.51	0.02	0.03	0.03	0.64	(0.53)	1.01	(0.99)	3.13
PAGLX	0.74	(0.03)	0.00	(0.03)	0.00	0.00	1.27	(1.58)	4.65
GCIGX	0.79	0.01	0.01	0.01	1.40	(0.72)	1.83	(1.43)	6.40

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