Mfs Intermediate Correlations

CIF Fund

USD 1.69 0.01 0.59%

The current 90-days correlation between Mfs Intermediate High and Northern Small Cap is 0.31 (i.e., Weak diversification). The correlation of Mfs Intermediate 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.

Mfs Intermediate Correlation With Market

Poor diversification

The correlation between Mfs Intermediate High and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs Intermediate High and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Mfs Intermediate High. Also, note that the market value of any fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Mfs Fund

0.64	ETV	Eaton Vance Tax	Pair Corr
0.71	RIV	Rivernorth Opportunities	Pair Corr
0.62	FHREX	Fidelity Freedom Blend	Pair Corr
0.65	VSGAX	Vanguard Small Cap	Pair Corr
0.66	APHWX	Artisan Value Income	Pair Corr
0.61	SBTIX	Salient Tactical Plus	Pair Corr
0.67	APITX	Api Growth Fund	Pair Corr
0.61	HGXSX	Hartford Global Impact	Pair Corr
0.65	IISTX	Voya Index Solution	Pair Corr
0.62	PACYX	Putnam Dynamic Asset	Pair Corr
0.64	DRILX	Dimensional 2060 Target	Pair Corr
0.63	QCSCPX	Cref Social Choice	Pair Corr
0.62	VFINX	Vanguard 500 Index	Pair Corr

Related Correlations Analysis

	JQC	PAXS	IGR	NIE	STK	NKX	WDI	DLY	LDP	NOSGX
JQC		0.76	0.65	0.88	0.87	0.54	-0.06	0.84	0.73	0.8	JQC
PAXS	0.76		0.8	0.65	0.82	0.8	0.38	0.77	0.72	0.74	PAXS
IGR	0.65	0.8		0.6	0.71	0.89	0.42	0.8	0.62	0.69	IGR
NIE	0.88	0.65	0.6		0.94	0.5	-0.01	0.88	0.81	0.86	NIE
STK	0.87	0.82	0.71	0.94		0.67	0.22	0.92	0.87	0.89	STK
NKX	0.54	0.8	0.89	0.5	0.67		0.54	0.75	0.65	0.66	NKX
WDI	-0.06	0.38	0.42	-0.01	0.22	0.54		0.28	0.35	0.21	WDI
DLY	0.84	0.77	0.8	0.88	0.92	0.75	0.28		0.92	0.95	DLY
LDP	0.73	0.72	0.62	0.81	0.87	0.65	0.35	0.92		0.92	LDP
NOSGX	0.8	0.74	0.69	0.86	0.89	0.66	0.21	0.95	0.92		NOSGX
	JQC	PAXS	IGR	NIE	STK	NKX	WDI	DLY	LDP	NOSGX

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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

NOSGX	+ 0.95	DLY
STK	+ 0.94	NIE
DLY	+ 0.92	STK
LDP	+ 0.92	DLY
NOSGX	+ 0.92	LDP
NKX	+ 0.89	IGR

High negative correlations

WDI	- 0.06	JQC
WDI	- 0.01	NIE

Risk-Adjusted Indicators

There is a big difference between Mfs Fund performing well and Mfs Intermediate 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 Mfs Intermediate'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
JQC	0.49	0.00	(0.09)	0.13	0.56	(0.60)	1.01	(0.79)	3.22
PAXS	0.43	0.03	(0.06)	1.43	0.48	(0.49)	1.09	(0.79)	2.59
IGR	0.96	0.08	0.04	0.21	1.07	(1.03)	1.95	(1.68)	3.89
NIE	0.51	0.03	0.01	0.13	0.47	(0.60)	1.35	(0.99)	2.57
STK	1.17	0.12	0.08	0.18	1.33	(1.21)	2.92	(2.28)	7.35
NKX	0.33	0.01	(0.07)	0.13	0.55	(0.34)	0.62	(0.79)	3.63
WDI	0.37	0.02	(0.05)	0.16	0.54	(0.38)	0.73	(0.88)	2.90
DLY	0.31	0.04	(0.05)	0.22	0.21	(0.36)	0.64	(0.61)	1.45
LDP	0.27	0.01	(0.13)	0.11	0.22	(0.33)	0.63	(0.47)	1.38
NOSGX	0.78	0.13	0.15	0.19	0.58	(1.01)	2.38	(1.47)	5.03

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