Active International Correlations

MSAAX Fund

USD 16.02 0.09 0.56%

The current 90-days correlation between Active International and Ab Global Bond is -0.02 (i.e., Good diversification). The correlation of Active International 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.

Active International Correlation With Market

Modest diversification

The correlation between Active International Allocatio and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Active International Allocatio 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 Active International Allocation. 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 nation.

Moving together with Active Mutual Fund

0.9	TEMUX	Emerging Markets Equity	Pair Corr
0.94	MMKBX	Emerging Markets Por	Pair Corr
0.94	MMMPX	Msif Emerging Markets Potential Growth	Pair Corr
0.94	MRGEX	Msif Emerging Markets Potential Growth	Pair Corr

Moving against Active Mutual Fund

0.64	MMCGX	Mid Cap Growth Steady Growth	Pair Corr
0.64	MPEGX	Mid Cap Growth Steady Growth	Pair Corr
0.63	MPAIX	Advantage Portfolio Class	Pair Corr
0.53	TLGUX	Large Cap Equity	Pair Corr
0.49	MLMAX	Global E Portfolio	Pair Corr
0.49	MLNSX	Global Centrated Por	Pair Corr
0.49	MLMIX	Global E Portfolio	Pair Corr
0.49	MLNIX	Global Centrated Por	Pair Corr
0.49	THYUX	High Yield Fund	Pair Corr
0.48	MLMCX	Global E Portfolio	Pair Corr
0.48	MLMSX	Global E Portfolio	Pair Corr
0.48	MLNCX	Global Centrated Por	Pair Corr
0.43	MLNAX	Global Centrated Por	Pair Corr
0.64	MACGX	Mid Cap Growth Steady Growth	Pair Corr
0.63	MADSX	Msif Advantage Port	Pair Corr
0.56	MRHYX	Msift High Yield	Pair Corr

Related Correlations Analysis

	ANAGX	AGRXX	PRFHX	MBSAX	PHDTX	MSTBX	TTRBX
ANAGX		0.0	0.77	0.8	-0.11	0.92	0.94	ANAGX
AGRXX	0.0		0.0	0.0	0.0	0.0	0.0	AGRXX
PRFHX	0.77	0.0		0.77	0.26	0.66	0.7	PRFHX
MBSAX	0.8	0.0	0.77		0.37	0.72	0.74	MBSAX
PHDTX	-0.11	0.0	0.26	0.37		-0.25	-0.23	PHDTX
MSTBX	0.92	0.0	0.66	0.72	-0.25		0.96	MSTBX
TTRBX	0.94	0.0	0.7	0.74	-0.23	0.96		TTRBX
	ANAGX	AGRXX	PRFHX	MBSAX	PHDTX	MSTBX	TTRBX

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

TTRBX	+ 0.96	MSTBX
TTRBX	+ 0.94	ANAGX
MSTBX	+ 0.92	ANAGX
MBSAX	+ 0.8	ANAGX
PRFHX	+ 0.77	ANAGX
MBSAX	+ 0.77	PRFHX

High negative correlations

MSTBX	- 0.25	PHDTX
TTRBX	- 0.23	PHDTX
PHDTX	- 0.11	ANAGX
TTRBX	- 0.0	AGRXX
MSTBX	- 0.0	AGRXX
PHDTX	- 0.0	AGRXX

Risk-Adjusted Indicators

There is a big difference between Active Mutual Fund performing well and Active International 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 Active International'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ANAGX	0.17	(0.04)	0.00	(9.50)	0.00	0.29	(0.29)	1.01
AGRXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PRFHX	0.16	(0.02)	0.00	0.27	0.00	0.44	(0.44)	1.61
MBSAX	0.21	(0.02)	0.00	(0.14)	0.00	0.37	(0.51)	1.32
PHDTX	0.09	0.01	(0.28)	0.23	(0.14)	0.22	(0.22)	0.56
MSTBX	0.09	(0.02)	0.00	(1.43)	0.00	0.20	(0.21)	0.72
TTRBX	0.13	(0.03)	0.00	(0.72)	0.00	0.30	(0.30)	0.70

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