MSD vs VGI: Correlation
Morgan Stanley Emerging Markets Debt Fund, Inc. (MSD) and Virtus Global Multi-Sector Income Fund (VGI) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSD and VGI?
Over the past 3 years, MSD and VGI moved with a correlation of 0.69, which is strong. Recent behaviour matches the longer record: 0.65 over 1 year against 0.69 over 3. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 82.0 %².
VGI is one of the assets that tracks MSD most closely: it ranks #3 out of the 13 assets we track against MSD. Neither side won the trailing year by much: +5.8% against +3.8%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
MSD vs VGI: side by side
| MSD (Morgan Stanley Emerging Markets Debt Fund, Inc.) | VGI (Virtus Global Multi-Sector Income Fund) | |
|---|---|---|
| 1-year return | +5.8% | +3.8% |
| 5-year return | +22.9% | +11.9% |
| Volatility (ann.) | 11.6% | 10.3% |
| Beta vs S&P 500 | 0.40 | 0.38 |
| Max drawdown (3Y) | -12.8% | -11.3% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | 6.9 | 7.8 |
| Dividend yield | 9.78% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MSD | VGI |
|---|---|---|
| 2022 | -22.1% | -22.3% |
| 2023 | +19.2% | +13.4% |
| 2024 | +24.9% | +10.4% |
| 2025 | +5.6% | +16.1% |
| 2026 | +2.6% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSD and VGI good diversifiers for each other?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MSD and VGI?
As of 2026-08-27, the correlation of weekly returns between MSD and VGI is 0.69 over 3 years, 0.65 over 1 year and 0.70 over 5 years.
Is VGI a good diversifier for MSD?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.69 mean?
On the −1 to +1 scale, 0.69 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/msd-vs-vgi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/msd-vs-vgi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MSD correlations · VGI correlations
