Small Company Correlations

MSSMX Fund

USD 9.74 0.16 1.67%

The current 90-days correlation between Small Pany Growth and Mid Cap Growth is 0.93 (i.e., Almost no diversification). The correlation of Small Company 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 Company 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 population.

Moving together with Small Mutual Fund

0.75	MLMAX	Global E Portfolio	Pair Corr
0.76	MLMCX	Global E Portfolio	Pair Corr
0.74	MLMIX	Global E Portfolio	Pair Corr
0.74	MLMSX	Global E Portfolio	Pair Corr
0.61	MLNCX	Global Centrated Por	Pair Corr
0.91	MMCGX	Mid Cap Growth	Pair Corr
0.85	MPEGX	Mid Cap Growth	Pair Corr
0.74	MAAUX	Morgan Stanley Insti	Pair Corr
0.74	MAAOX	Morgan Stanley Insti	Pair Corr
0.8	MADSX	Msif Advantage Port	Pair Corr
0.91	MACGX	Mid Cap Growth	Pair Corr

Moving against Small Mutual Fund

0.74	MORGX	Morgan Stanley Mortgage	Pair Corr
0.61	TILUX	Inflation Linked Fixed	Pair Corr
0.57	DINCX	Global Fixed Income	Pair Corr
0.56	DINAX	Global Fixed Income	Pair Corr
0.54	DINDX	Global Fixed Income	Pair Corr
0.51	TIEUX	International Equity	Pair Corr
0.46	MRJIX	Real Assets Portfolio	Pair Corr
0.46	MRJSX	Real Assets Portfolio	Pair Corr
0.57	MAIHX	Morgan Stanley Insti	Pair Corr
0.57	MSACX	Active International	Pair Corr
0.55	MAIJX	Morgan Stanley Insti	Pair Corr
0.54	MSAAX	Active International	Pair Corr
0.52	MSBOX	Corporate Bond Portfolio	Pair Corr
0.34	MSDKX	Morgan Stanley Insti	Pair Corr
0.33	MSDFX	Morgan Stanley Insti	Pair Corr

Related Correlations Analysis

	MACGX	CPOAX	MSEGX	ADNPX	SAGAX
MACGX		0.99	1.0	0.9	0.89	MACGX
CPOAX	0.99		1.0	0.92	0.92	CPOAX
MSEGX	1.0	1.0		0.92	0.9	MSEGX
ADNPX	0.9	0.92	0.92		0.89	ADNPX
SAGAX	0.89	0.92	0.9	0.89		SAGAX
	MACGX	CPOAX	MSEGX	ADNPX	SAGAX

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Risk-Adjusted Indicators

There is a big difference between Small Mutual Fund performing well and Small Company 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 Company'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
MACGX	1.59	(0.07)	(0.13)	2.65	(3.38)	8.33
CPOAX	1.76	(0.10)	(0.15)	3.26	(3.64)	10.09
MSEGX	1.71	(0.11)	(0.16)	3.14	(3.25)	10.20
ADNPX	2.19	(0.31)	0.92	3.55	(5.12)	13.73
SAGAX	1.49	(0.19)	(0.23)	2.99	(3.31)	8.69

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