Morgan Stanley Correlations

XEDDX Fund

USD 5.28 0.01 0.19%

The current 90-days correlation between Morgan Stanley Emerging and Ffcdax is 0.29 (i.e., Modest diversification). The correlation of Morgan Stanley 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.

Morgan Stanley Correlation With Market

Significant diversification

The correlation between Morgan Stanley Emerging and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Morgan Stanley Emerging and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Morgan Stanley Emerging. 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 unemployment.

For more information on how to buy Morgan Mutual Fund please use our How to Invest in Morgan Stanley guide.

Moving together with Morgan Mutual Fund

0.96	VGTSX	Vanguard Total Inter	Pair Corr
0.96	VTIAX	Vanguard Total Inter	Pair Corr
0.88	NHS	Neuberger Berman High	Pair Corr
0.62	FNSKCX	Fnskcx	Pair Corr
0.78	PBAKX	Blackrock Tactical	Pair Corr
0.96	HILIX	Hartford Interna	Pair Corr
0.77	VHCIX	Vanguard Health Care	Pair Corr
0.92	RIMOX	City National Rochdale	Pair Corr
0.91	PDSQX	Prudential Short Duration	Pair Corr
0.85	SHOAX	American Beacon Sim	Pair Corr
0.83	AGD	Aberdeen Global Dynamic	Pair Corr
0.83	GMOEX	Gmo Emerging Markets	Pair Corr
0.77	CVMIX	Calvert Emerging Markets	Pair Corr
0.91	PTATX	T Rowe Price	Pair Corr
0.91	CRAIX	Community Reinvestment	Pair Corr
0.93	XPTFX	Federated Project And	Pair Corr
0.86	SSTHX	Wells Fargo Short	Pair Corr
0.9	RGVCX	Us Government Securities	Pair Corr
0.71	AQRRX	Aqr Risk Parity	Pair Corr
0.72	DODWX	Dodge Global Stock	Pair Corr
0.91	RBFCX	Bond Fund	Pair Corr
0.96	LASNX	Loomis Sayles Strategic	Pair Corr
0.91	MWTRX	Metropolitan West Total	Pair Corr
0.79	MPHLX	Massmutual Premier High	Pair Corr
0.63	IOEBX	Ioebx	Pair Corr

Moving against Morgan Mutual Fund

0.41	VTSAX	Vanguard Total Stock	Pair Corr
0.41	VTSMX	Vanguard Total Stock	Pair Corr
0.41	VITSX	Vanguard Total Stock	Pair Corr
0.37	VFIAX	Vanguard 500 Index	Pair Corr
0.37	VFINX	Vanguard 500 Index	Pair Corr
0.36	VSTSX	Vanguard Total Stock	Pair Corr
0.36	VSMPX	Vanguard Total Stock	Pair Corr
0.33	VFFSX	Vanguard 500 Index	Pair Corr

Related Correlations Analysis

	FFCDAX	FTUFOX	SGICX	JTSQX	FMUUX	XHYIX
FFCDAX		0.35	0.05	0.48	0.23	0.44	FFCDAX
FTUFOX	0.35		0.09	-0.01	0.59	0.03	FTUFOX
SGICX	0.05	0.09		0.33	-0.22	0.62	SGICX
JTSQX	0.48	-0.01	0.33		0.13	0.56	JTSQX
FMUUX	0.23	0.59	-0.22	0.13		-0.22	FMUUX
XHYIX	0.44	0.03	0.62	0.56	-0.22		XHYIX
	FFCDAX	FTUFOX	SGICX	JTSQX	FMUUX	XHYIX

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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

XHYIX	+ 0.62	SGICX
FMUUX	+ 0.59	FTUFOX
XHYIX	+ 0.56	JTSQX
JTSQX	+ 0.48	FFCDAX
XHYIX	+ 0.44	FFCDAX
FTUFOX	+ 0.35	FFCDAX

High negative correlations

XHYIX	- 0.22	FMUUX
FMUUX	- 0.22	SGICX
JTSQX	- 0.01	FTUFOX

Risk-Adjusted Indicators

There is a big difference between Morgan Mutual Fund performing well and Morgan Stanley 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 Morgan Stanley'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
FFCDAX	0.12	(0.01)	0.00	0.93	0.00	0.00	0.21	(0.41)	1.14
FTUFOX	0.10	0.00	0.30	0.10	0.04	(0.10)	0.20	(0.19)	0.60
SGICX	0.92	(0.32)	0.00	(1.88)	0.00	0.00	1.09	(1.37)	19.11
JTSQX	0.66	0.00	0.00	(0.04)	0.00	0.00	1.22	(1.34)	3.69
FMUUX	0.03	0.00	0.00	(0.06)	0.00	0.00	0.10	0.00	0.40
XHYIX	0.16	(0.03)	0.00	0.81	0.00	0.00	0.25	(0.49)	1.31

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