Growth Portfolio Correlations

Mutual Funds . USA . 
Fund . Growth Portfolio Class
MSEQX Fund  USD 58.61  0.48  0.83%   
The current 90-days correlation between Growth Portfolio Class and Mid Cap Growth is 0.97 (i.e., Almost no diversification). The correlation of Growth 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.

Growth Portfolio Correlation With Market

Poor diversification

The correlation between Growth Portfolio Class and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Growth 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 Growth 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 producer price index.

Moving together with Growth Mutual Fund

  0.87MLMAX Global E PortfolioPairCorr
  0.87MLMCX Global E PortfolioPairCorr
  0.87MLNSX Global Centrated PorPairCorr
  0.88MLMIX Global E PortfolioPairCorr
  0.88MLMSX Global E PortfolioPairCorr
  0.86MLNCX Global Centrated PorPairCorr
  0.86MLNAX Global Centrated PorPairCorr
  0.87MLNIX Global Centrated PorPairCorr
  1.0MMCGX Mid Cap GrowthPairCorr
  0.85THYUX High Yield FundPairCorr
  1.0MPAIX Advantage Portfolio ClassPairCorr
  1.0MPEGX Mid Cap GrowthPairCorr
  0.91TLGUX Large Cap EquityPairCorr
  0.68MRETX Msif Real EstatePairCorr
  0.89MRHYX Msift High YieldPairCorr
  0.9MAAQX Morgan Stanley InstiPairCorr
  0.63MAAWX Morgan Stanley InstiPairCorr

Moving against Growth Mutual Fund

  0.72TIEUX International EquityPairCorr
  0.72TIIUX Core Fixed IncomePairCorr
  0.68TILUX Inflation Linked FixedPairCorr
  0.65MPFDX Corporate Bond PortfolioPairCorr
  0.5MRJCX Real Assets PortfolioPairCorr
  0.47MRJAX Real Assets PortfolioPairCorr
  0.45MRJIX Real Assets PortfolioPairCorr
  0.44MRJSX Real Assets PortfolioPairCorr

Related Correlations Analysis

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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   
MSSGX
+ 1.0
MPEGX
CPODX
+ 1.0
MPEGX
CPODX
+ 1.0
MSSGX
MSUSX
+ 0.71
MPEGX
MSUSX
+ 0.7
CPODX
MSUSX
+ 0.67
MSSGX
  
High negative correlations   
MGEMX
- 0.23
MSSGX
MGEMX
- 0.22
CPODX
MGEMX
- 0.18
MPEGX

Risk-Adjusted Indicators

There is a big difference between Growth Mutual Fund performing well and Growth 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 Growth 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.

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