Small Pany Correlations

MSSGX Fund

USD 14.72 0.26 1.80%

The current 90-days correlation between Small Pany Growth and Mid Cap Growth is 0.94 (i.e., Almost no diversification). The correlation of Small Pany 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.

Small Pany Correlation With Market

Very weak diversification

The correlation between Small Pany Growth and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Small Pany 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 Small Pany 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 price.

Moving together with Small Mutual Fund

0.76	MLMCX	Global E Portfolio	Pair Corr
0.92	MPEGX	Mid Cap Growth	Pair Corr
0.92	MACGX	Mid Cap Growth	Pair Corr
0.92	MSEGX	Growth Portfolio Class	Pair Corr
0.92	MSEQX	Growth Portfolio Class	Pair Corr
0.92	MSKLX	Mid Cap Growth	Pair Corr
0.92	MSMFX	Msift Mid Cap	Pair Corr
1.0	MSSMX	Small Pany Growth	Pair Corr
0.88	MSVEX	Morgan Stanley Vitality	Pair Corr
0.88	MSVDX	Morgan Stanley Vitality	Pair Corr
0.95	CPODX	Morgan Stanley Multi	Pair Corr
0.95	CPOAX	Morgan Stanley Multi	Pair Corr
0.95	VSGAX	Vanguard Small Cap	Pair Corr
0.95	VSGIX	Vanguard Small Cap	Pair Corr
0.96	VISGX	Vanguard Small Cap	Pair Corr
0.91	VEXPX	Vanguard Explorer	Pair Corr
0.91	VEXRX	Vanguard Explorer	Pair Corr
0.93	JGMIX	Janus Triton	Pair Corr
0.94	JGMRX	Janus Triton	Pair Corr
0.93	JGMAX	Janus Triton	Pair Corr
0.94	JGMCX	Janus Triton	Pair Corr
0.93	JGMNX	Janus Triton	Pair Corr

Moving against Small Mutual Fund

0.68	USGDX	Morgan Stanley Government	Pair Corr
0.68	USGAX	Morgan Stanley Government	Pair Corr
0.62	TILUX	Inflation Linked Fixed	Pair Corr
0.57	MPFDX	Corporate Bond Portfolio	Pair Corr
0.55	MFIRX	Ms Global Fixed	Pair Corr
0.88	GAAKX	Gmo Alternative Allo	Pair Corr
0.88	GAAGX	Gmo Alternative Allo	Pair Corr
0.69	GPBFX	Gmo E Plus	Pair Corr
0.67	HRBDX	Harbor Bond Fund	Pair Corr
0.66	ABNOX	Ab Bond Inflation	Pair Corr
0.61	VICSX	Vanguard Intermediate-ter	Pair Corr
0.57	GIOIX	Guggenheim Macro Opp	Pair Corr
0.53	DLDFX	Destinations Low Duration	Pair Corr
0.46	UTF	Cohen And Steers	Pair Corr
0.37	SGDLX	Sprott Gold Equity	Pair Corr
0.36	HTD	John Hancock Tax	Pair Corr

Related Correlations Analysis

	MPEGX	MSEQX	MSUSX	CPODX	MGEMX
MPEGX		1.0	0.0	0.99	0.16	MPEGX
MSEQX	1.0		0.0	1.0	0.11	MSEQX
MSUSX	0.0	0.0		0.0	0.0	MSUSX
CPODX	0.99	1.0	0.0		0.12	CPODX
MGEMX	0.16	0.11	0.0	0.12		MGEMX
	MPEGX	MSEQX	MSUSX	CPODX	MGEMX

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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

MSEQX	+ 1.0	MPEGX
CPODX	+ 1.0	MSEQX
CPODX	+ 0.99	MPEGX
MGEMX	+ 0.16	MPEGX
MGEMX	+ 0.12	CPODX
MGEMX	+ 0.11	MSEQX

High negative correlations

MGEMX	- 0.0	MSUSX
CPODX	- 0.0	MSUSX
MSUSX	- 0.0	MSEQX
MSUSX	- 0.0	MPEGX

Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small Pany 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 Small Pany'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
MPEGX	1.60	(0.05)	0.00	(0.11)	0.00	0.00	2.67	(3.30)	8.32
MSEQX	1.73	(0.09)	0.00	(0.14)	0.00	0.00	3.14	(3.26)	10.20
MSUSX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CPODX	1.78	(0.08)	0.00	(0.13)	0.00	0.00	3.26	(3.63)	10.11
MGEMX	0.74	0.03	0.06	0.00	1.03	(0.71)	1.59	(1.69)	5.39

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