Advantage Portfolio Correlations

Mutual Funds . USA . 
Fund . Advantage Portfolio Class
MPAIX Fund  USD 24.70  0.11  0.45%   
The current 90-days correlation between Advantage Portfolio Class and American Funds The is 0.78 (i.e., Poor 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

Poor diversification

The correlation between Advantage Portfolio Class and DJI is 0.66 (i.e., Poor 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 gross domestic product.

Moving together with Advantage Mutual Fund

  0.88MLMAX Global E PortfolioPairCorr
  0.88MLMCX Global E PortfolioPairCorr
  0.87MLNSX Global Centrated PorPairCorr
  0.88MLMIX Global E PortfolioPairCorr
  0.88MLMSX Global E PortfolioPairCorr
  0.87MLNCX Global Centrated PorPairCorr
  0.87MLNAX Global Centrated PorPairCorr
  0.87MLNIX Global Centrated PorPairCorr
  1.0MMCGX Mid Cap GrowthPairCorr
  0.85THYUX High Yield FundPairCorr
  1.0MPEGX Mid Cap GrowthPairCorr
  0.92TLGUX Large Cap EquityPairCorr
  0.68MRETX Msif Real EstatePairCorr
  0.89MRHYX Msift High YieldPairCorr
  0.91MAAQX Morgan Stanley InstiPairCorr

Moving against Advantage Mutual Fund

  0.78TIEUX International EquityPairCorr
  0.72TIIUX Core Fixed IncomePairCorr
  0.68TILUX Inflation Linked FixedPairCorr
  0.65MPFDX Corporate Bond PortfolioPairCorr
  0.8MSDFX Morgan Stanley InstiPairCorr
  0.68MSBOX Corporate Bond PortfolioPairCorr
  0.67MSBKX Morgan Stanley InstiPairCorr
  0.66MSBDX Morgan Stanley InstiPairCorr
  0.66MSBEX Morgan Stanley InstiPairCorr
  0.5MRJCX Real Assets PortfolioPairCorr
  0.47MRJAX Real Assets PortfolioPairCorr
  0.45MRJIX Real Assets PortfolioPairCorr
  0.45MRJSX Real Assets PortfolioPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FAFGX  0.65  0.03  0.02  0.16  0.84 
(0.67)
 1.34 
(1.65)
 4.41 
FFAFX  0.65  0.03  0.02  0.16  0.84 
(0.67)
 1.34 
(1.65)
 4.41 
GFACX  0.65  0.02  0.02  0.15  0.85 
(0.67)
 1.33 
(1.65)
 4.41 
GFAFX  0.65  0.03  0.02  0.16  0.84 
(0.67)
 1.34 
(1.64)
 4.42 
AGTHX  0.65  0.03  0.02  0.16  0.84 
(0.67)
 1.34 
(1.65)
 4.40 
CGFFX  0.65  0.03  0.02  0.16  0.84 
(0.67)
 1.34 
(1.66)
 4.41 
CGFCX  0.65  0.02  0.02  0.15  0.85 
(0.67)
 1.34 
(1.65)
 4.41 
CGFAX  0.65  0.03  0.02  0.16  0.84 
(0.67)
 1.35 
(1.65)
 4.40 
CGFEX  0.65  0.03  0.02  0.15  0.84 
(0.67)
 1.34 
(1.65)
 4.40 
RGAEX  0.65  0.03  0.02  0.16  0.84 
(0.67)
 1.34 
(1.66)
 4.39 

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