Mid Cap Correlations

MPEGX Fund

USD 28.43 0.53 1.90%

The current 90-days correlation between Mid Cap Growth and Growth Portfolio Class is -0.12 (i.e., Good diversification). The correlation of Mid Cap 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.

Mid Cap Correlation With Market

Good diversification

The correlation between Mid Cap Growth and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mid Cap 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 Mid Cap 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 rate.

Moving together with Mid Mutual Fund

0.77	TEMUX	Emerging Markets Equity	Pair Corr
0.77	DINDX	Global Fixed Income	Pair Corr
0.77	DINCX	Global Fixed Income	Pair Corr
0.76	DINAX	Global Fixed Income	Pair Corr
0.7	MLMAX	Global E Portfolio	Pair Corr
0.69	MLMCX	Global E Portfolio	Pair Corr
0.65	MLNSX	Global Centrated Por	Pair Corr
0.7	MLMIX	Global E Portfolio	Pair Corr
0.69	MLMSX	Global E Portfolio	Pair Corr
0.65	MLNCX	Global Centrated Por	Pair Corr
0.65	MLNAX	Global Centrated Por	Pair Corr
0.65	MLNIX	Global Centrated Por	Pair Corr
1.0	MMCGX	Mid Cap Growth	Pair Corr
0.75	MMKBX	Emerging Markets Por	Pair Corr
0.75	MMMPX	Msif Emerging Markets	Pair Corr
0.74	THYUX	High Yield Fund	Pair Corr
0.71	TIFUX	International Fixed	Pair Corr
0.78	TIIUX	Core Fixed Income	Pair Corr
0.89	MPAIX	Advantage Portfolio Class	Pair Corr
0.74	MPBAX	Global Strategist	Pair Corr
0.78	MPFDX	Corporate Bond Portfolio	Pair Corr
0.75	MRGEX	Msif Emerging Markets	Pair Corr
0.75	MRHYX	Msift High Yield	Pair Corr
0.89	MADSX	Msif Advantage Port	Pair Corr
0.94	MACGX	Mid Cap Growth	Pair Corr
0.71	MAIJX	Morgan Stanley Insti	Pair Corr
0.71	MAIHX	Morgan Stanley Insti	Pair Corr
0.78	MSBOX	Corporate Bond Portfolio	Pair Corr
0.71	MSAAX	Active International	Pair Corr
0.71	MSACX	Active International	Pair Corr
0.71	MSAQX	Asia Opportunity Por	Pair Corr

Moving against Mid Mutual Fund

0.73	MSFLX	Global Franchise Por	Pair Corr
0.73	MSGFX	Global Franchise Por	Pair Corr
0.71	MSBWX	Morgan Stanley Insti	Pair Corr
0.37	MSEEX	Morgan Stanley European	Pair Corr
0.31	MSDFX	Morgan Stanley Insti	Pair Corr

Related Correlations Analysis

	MSEQX	MSSGX	MSUSX	MGEMX	CPODX
MSEQX		0.77	0.0	0.79	1.0	MSEQX
MSSGX	0.77		0.0	0.95	0.76	MSSGX
MSUSX	0.0	0.0		0.0	0.0	MSUSX
MGEMX	0.79	0.95	0.0		0.79	MGEMX
CPODX	1.0	0.76	0.0	0.79		CPODX
	MSEQX	MSSGX	MSUSX	MGEMX	CPODX

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

CPODX	+ 1.0	MSEQX
MGEMX	+ 0.95	MSSGX
MGEMX	+ 0.79	MSEQX
CPODX	+ 0.79	MGEMX
MSSGX	+ 0.77	MSEQX
CPODX	+ 0.76	MSSGX

High negative correlations

CPODX	- 0.0	MSUSX
MGEMX	- 0.0	MSUSX
MSUSX	- 0.0	MSSGX
MSUSX	- 0.0	MSEQX

Risk-Adjusted Indicators

There is a big difference between Mid Mutual Fund performing well and Mid Cap 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 Mid Cap'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
MSEQX	1.02	0.19	0.15	0.27	1.04	(1.13)	2.54	(1.64)	6.19
MSSGX	1.06	0.16	0.14	0.16	1.14	(1.14)	2.79	(1.98)	6.55
MSUSX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MGEMX	0.53	0.13	0.14	2.42	0.36	(0.64)	1.12	(0.79)	2.52
CPODX	1.00	0.20	0.17	0.26	0.94	(1.13)	2.36	(1.42)	6.21

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