Advantage Portfolio Correlations

Mutual Funds . USA . 
Fund . Advantage Portfolio Class
MSPRX Fund  USD 20.88  0.35  1.65%   
The current 90-days correlation between Advantage Portfolio Class and Fidelity Advisor Gold is 0.34 (i.e., Weak 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

Modest diversification

The correlation between Advantage Portfolio Class and DJI is 0.27 (i.e., Modest 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 metropolitan statistical area.

Moving together with Advantage Mutual Fund

  0.63TEMUX Emerging Markets EquityPairCorr
  0.74MLMAX Global E PortfolioPairCorr
  0.73MLMCX Global E PortfolioPairCorr
  0.67MLNSX Global Centrated PorPairCorr
  0.75MLMIX Global E PortfolioPairCorr
  0.75MLMSX Global E PortfolioPairCorr
  0.66MLNCX Global Centrated Por Potential GrowthPairCorr
  0.66MLNAX Global Centrated PorPairCorr
  0.67MLNIX Global Centrated PorPairCorr
  0.92MMCGX Mid Cap GrowthPairCorr
  0.77MNOPX International OpportunityPairCorr
  0.91MPAIX Advantage Portfolio ClassPairCorr
  0.85MPEGX Mid Cap GrowthPairCorr
  0.61MRJCX Real Assets PortfolioPairCorr
  0.61MRJAX Real Assets PortfolioPairCorr
  0.61MRJIX Real Assets PortfolioPairCorr
  0.67MRHYX Msift High YieldPairCorr
  0.61MRJSX Real Assets PortfolioPairCorr
  0.77MRNPX Msif InternationalPairCorr
  1.0MADSX Msif Advantage PortPairCorr
  0.92MACGX Mid Cap GrowthPairCorr

Related Correlations Analysis

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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.

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