Mfs Emerging Correlations

EMLNX Fund

USD 5.39 0.03 0.56%

The current 90-days correlation between Mfs Emerging Markets and Guggenheim Risk Managed is 0.27 (i.e., Modest diversification). The correlation of Mfs Emerging 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.

Mfs Emerging Correlation With Market

Significant diversification

The correlation between Mfs Emerging Markets and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Mfs Emerging Markets. 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 board of governors.

Moving together with Mfs Mutual Fund

0.66	FPPJX	Mfs Prudent Investor	Pair Corr
0.67	FPPQX	Mfs Prudent Investor	Pair Corr
0.7	FPPRX	Mfs Prudent Investor	Pair Corr
0.68	FPPSX	Mfs Prudent Investor	Pair Corr
0.66	FPPUX	Mfs Prudent Investor	Pair Corr
0.66	FPPVX	Mfs Prudent Investor	Pair Corr
0.87	MKVCX	Mfs International Large	Pair Corr
0.86	MKVGX	Mfs International Large	Pair Corr
0.86	MKVFX	Mfs International Large	Pair Corr
0.86	MKVEX	Mfs International Large	Pair Corr
0.86	MKVDX	Mfs International Large	Pair Corr
0.86	MKVIX	Mfs International Large	Pair Corr
0.86	MKVHX	Mfs Series Trust	Pair Corr
1.0	EMLAX	Mfs Emerging Markets	Pair Corr

Moving against Mfs Mutual Fund

0.49	OTCHX	Mfs Mid Cap	Pair Corr
0.49	OTCIX	Mfs Mid Cap	Pair Corr
0.49	OTCJX	Mfs Mid Cap	Pair Corr
0.49	OTCKX	Mfs Mid Cap	Pair Corr
0.38	UIVIX	Mfs Intrinsic Value	Pair Corr
0.38	UIVPX	Mfs Intrinsic Value	Pair Corr
0.38	UIVQX	Mfs Intrinsic Value	Pair Corr
0.38	UIVNX	Mfs Intrinsic Value	Pair Corr
0.38	UIVVX	Mfs Intrinsic Value	Pair Corr
0.38	UIVRX	Mfs Intrinsic Value	Pair Corr
0.37	UIVCX	Mfs Intrinsic Value	Pair Corr
0.37	UIVMX	Mfs Intrinsic Value	Pair Corr
0.5	BRSTX	Mfs Blended Research	Pair Corr
0.5	BRSUX	Mfs Blended Research	Pair Corr
0.5	BRSSX	Mfs Blended Research	Pair Corr
0.49	OTCAX	Mfs Mid Cap	Pair Corr
0.49	OTCBX	Mfs Mid Cap	Pair Corr
0.49	BRSPX	Mfs Blended Research	Pair Corr
0.48	OTCCX	Mfs Mid Cap	Pair Corr

Related Correlations Analysis

	GURPX	PRKAX	PHRAX	FREEX	TIREX	PNDIX	FORFX
GURPX		0.78	0.96	0.93	0.95	0.17	0.23	GURPX
PRKAX	0.78		0.81	0.79	0.68	0.27	0.33	PRKAX
PHRAX	0.96	0.81		0.87	0.89	0.39	0.45	PHRAX
FREEX	0.93	0.79	0.87		0.97	-0.09	-0.02	FREEX
TIREX	0.95	0.68	0.89	0.97		-0.06	0.01	TIREX
PNDIX	0.17	0.27	0.39	-0.09	-0.06		0.99	PNDIX
FORFX	0.23	0.33	0.45	-0.02	0.01	0.99		FORFX
	GURPX	PRKAX	PHRAX	FREEX	TIREX	PNDIX	FORFX

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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

FORFX	+ 0.99	PNDIX
TIREX	+ 0.97	FREEX
PHRAX	+ 0.96	GURPX
TIREX	+ 0.95	GURPX
FREEX	+ 0.93	GURPX
TIREX	+ 0.89	PHRAX

High negative correlations

PNDIX	- 0.09	FREEX
PNDIX	- 0.06	TIREX
FORFX	- 0.02	FREEX

Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs Emerging 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 Mfs Emerging'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
GURPX	0.59	0.03	(0.09)	0.27	0.63	(0.70)	1.28	(1.10)	3.33
PRKAX	0.55	0.05	(0.07)	0.35	0.54	(0.67)	1.02	(1.24)	3.53
PHRAX	0.67	0.06	(0.04)	0.50	0.72	(0.79)	1.34	(1.27)	3.61
FREEX	0.68	0.05	(0.07)	0.78	0.80	(0.71)	1.25	(1.24)	4.09
TIREX	0.70	0.04	(0.08)	0.38	0.78	(0.79)	1.38	(1.36)	3.82
PNDIX	0.04	0.02	0.00	(2.66)	0.00	0.00	0.10	0.00	0.10
FORFX	0.06	0.04	0.00	2.05	0.00	0.00	0.11	0.00	0.21

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