Multi Strategy Correlations

MSFIX Fund  USD 11.51  0.20  1.71%   
The current 90-days correlation between Multi Strategy and Touchstone Large Cap is 0.32 (i.e., Weak diversification). The correlation of Multi Strategy 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.

Multi Strategy Correlation With Market

Very weak diversification

The correlation between The Multi Strategy Growth and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding The Multi Strategy Growth 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 The Multi Strategy Growth. 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 Multi Mutual Fund

  0.88VTSAX Vanguard Total StockPairCorr
  0.85VFIAX Vanguard 500 IndexPairCorr
  0.88VTSMX Vanguard Total StockPairCorr
  0.87VITSX Vanguard Total StockPairCorr
  0.88VSTSX Vanguard Total StockPairCorr
  0.88VSMPX Vanguard Total StockPairCorr
  0.85VFINX Vanguard 500 IndexPairCorr
  0.86VFFSX Vanguard 500 IndexPairCorr
  0.8MBCZX Massmutual Select BluePairCorr
  0.79DTGRX Dreyfus Technology GrowthPairCorr
  0.91AFOZX Alger Funds MidPairCorr
  0.75AULDX Ultra Fund R6PairCorr
  0.74PSDSX Palmer Square UltraPairCorr
  0.75HGOSX Hartford GrowthPairCorr
  0.78PAGRX Aggressive GrowthPairCorr
  0.83ETCEX Eventide ExponentialPairCorr
  0.68AFRFX Invesco Floating RatePairCorr
  0.76WUSRX Wells Fargo UltraPairCorr
  0.87CFSIX Touchstone Sands CapitalPairCorr
  0.92PHSKX Virtus Kar MidPairCorr
  0.94HAGAX Eagle Mid CapPairCorr
  0.93MLPGX Oppenheimer Steelpath MlpPairCorr
  0.75HGOVX Hartford GrowthPairCorr
  0.86RFXIX Rational Special SitPairCorr
  0.83DSHZX Brinker Capital DestPairCorr
  0.92TPZ Tortoise Capital SeriesPairCorr
  0.9LMOFX Miller Opportunity TrustPairCorr
  0.86ASG Liberty All StarPairCorr
  0.72SGYAX Siit High YieldPairCorr
  0.79CFNDX Cargile FundPairCorr
  0.91AFOIX Alger Mid CapPairCorr
  0.93FRSGX Franklin Small MidPairCorr
  0.86CADVX Calamos Dividend GrowthPairCorr

Moving against Multi Mutual Fund

  0.64NHS Neuberger Berman HighPairCorr
  0.61VTIAX Vanguard Total InterPairCorr
  0.57VGTSX Vanguard Total InterPairCorr
  0.44PFHCX Pacific Funds SmallPairCorr

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   
ILESXLMUSX
DOXGXTFCCX
IAFLXLMUSX
ILESXIAFLX
RHSAXLMUSX
ILESXRHSAX
  
High negative correlations   
IAFLXTADGX

Risk-Adjusted Indicators

There is a big difference between Multi Mutual Fund performing well and Multi Strategy 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 Multi Strategy'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.