International Advantage Correlations

MFAIX Fund

USD 24.78 0.05 0.20%

The current 90-days correlation between International Advantage and Growth Portfolio Class is -0.18 (i.e., Good diversification). The correlation of International Advantage 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.

International Advantage Correlation With Market

Good diversification

The correlation between International Advantage Portfo and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding International Advantage Portfo 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 International Advantage Portfolio. 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 International Mutual Fund

0.63	DINAX	Global Fixed Income	Pair Corr
0.63	MMMPX	Msif Emerging Markets Potential Growth	Pair Corr
0.67	MRGEX	Msif Emerging Markets Potential Growth	Pair Corr

Moving against International Mutual Fund

0.39	MLNAX	Global Centrated Por	Pair Corr
0.37	TLGUX	Large Cap Equity	Pair Corr

Related Correlations Analysis

	MSEQX	CPODX	MGGIX	PICMX	AGOZX
MSEQX		0.99	0.83	0.91	0.95	MSEQX
CPODX	0.99		0.83	0.91	0.96	CPODX
MGGIX	0.83	0.83		0.84	0.84	MGGIX
PICMX	0.91	0.91	0.84		0.93	PICMX
AGOZX	0.95	0.96	0.84	0.93		AGOZX
	MSEQX	CPODX	MGGIX	PICMX	AGOZX

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Risk-Adjusted Indicators

There is a big difference between International Mutual Fund performing well and International Advantage 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 International Advantage'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	1.26	0.52	0.52	0.47	0.35	(1.57)	3.37	(1.55)	8.54
CPODX	1.26	0.59	0.49	(31.39)	0.45	(1.61)	3.16	(1.74)	8.01
MGGIX	0.73	0.01	0.00	0.08	1.51	(0.70)	1.44	(1.12)	9.85
PICMX	0.70	0.03	0.02	0.09	0.78	(0.69)	1.53	(1.26)	4.20
AGOZX	1.10	0.23	0.16	0.83	0.94	(1.28)	2.69	(1.77)	7.55

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