Advantage Portfolio Correlations

MPAIX Fund

USD 24.16 0.24 1.00%

The current 90-days correlation between Advantage Portfolio Class and Growth Portfolio Class is 0.98 (i.e., Almost no diversification). The correlation of Advantage Portfolio 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.

Advantage Portfolio Correlation With Market

Significant diversification

The correlation between Advantage Portfolio Class and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Advantage Portfolio Class 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 Advantage Portfolio Class. 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 Advantage Mutual Fund

0.91	MLMAX	Global E Portfolio	Pair Corr
0.91	MLMCX	Global E Portfolio	Pair Corr
0.84	MLNSX	Global Centrated Por	Pair Corr
0.9	MLMSX	Global E Portfolio	Pair Corr
0.84	MLNAX	Global Centrated Por	Pair Corr
0.93	MMCGX	Mid Cap Growth	Pair Corr
0.71	TIFUX	International Fixed	Pair Corr
0.99	MPEGX	Mid Cap Growth	Pair Corr
0.93	MACGX	Mid Cap Growth	Pair Corr
0.92	MSCMX	Morgan Stanley Multi	Pair Corr
0.82	MSCOX	Msif Small Pany	Pair Corr
0.95	MAPLX	Advantage Portfolio Class	Pair Corr
0.94	MSEGX	Growth Portfolio Class	Pair Corr
0.99	MSEQX	Growth Portfolio Class	Pair Corr
0.81	MSHOX	Morgan Stanley Insti	Pair Corr

Moving against Advantage Mutual Fund

0.38

MORGX

Morgan Stanley Mortgage

Pair Corr

Related Correlations Analysis

	MSEQX	MGGIX	MFAIX	CPODX	MSFAX
MSEQX		0.81	0.39	1.0	0.47	MSEQX
MGGIX	0.81		0.72	0.8	0.8	MGGIX
MFAIX	0.39	0.72		0.35	0.84	MFAIX
CPODX	1.0	0.8	0.35		0.43	CPODX
MSFAX	0.47	0.8	0.84	0.43		MSFAX
	MSEQX	MGGIX	MFAIX	CPODX	MSFAX

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Check Volatility

Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Advantage Mutual Fund performing well and Advantage Portfolio 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 Advantage Portfolio'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
MSEQX	1.75	(0.08)	0.00	(0.38)	0.00	0.00	3.23	(3.15)	10.20
MGGIX	1.06	0.00	0.00	(0.01)	1.41	(1.08)	1.83	(2.22)	5.56
MFAIX	0.88	0.04	0.04	0.28	1.18	(0.88)	2.14	(1.70)	5.55
CPODX	1.78	(0.09)	0.00	(0.37)	0.00	0.00	3.52	(3.08)	10.11
MSFAX	0.58	0.02	0.02	0.02	0.72	(0.58)	1.02	(1.10)	2.65

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