Mfs Prudent Correlations

FPPJX Fund

USD 12.05 0.11 0.92%

The current 90-days correlation between Mfs Prudent Investor and Balanced Strategy Fund is 0.72 (i.e., Poor diversification). The correlation of Mfs Prudent 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 Prudent Correlation With Market

Modest diversification

The correlation between Mfs Prudent Investor and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs Prudent Investor 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 Prudent Investor. 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 inflation.

Moving together with Mfs Mutual Fund

1.0	FPPQX	Mfs Prudent Investor	Pair Corr
1.0	FPPRX	Mfs Prudent Investor	Pair Corr
1.0	FPPSX	Mfs Prudent Investor	Pair Corr
1.0	FPPUX	Mfs Prudent Investor	Pair Corr
1.0	FPPVX	Mfs Prudent Investor	Pair Corr
0.64	HYPPX	Mfs High Yield	Pair Corr

Related Correlations Analysis

	RBLCX	SEDAX	WIFMX	ECSWX	VSMGX	EGLNX	ANGCX	IGIEX
RBLCX		0.83	0.47	-0.04	0.67	0.35	0.53	0.82	RBLCX
SEDAX	0.83		0.66	0.19	0.46	0.18	0.53	0.77	SEDAX
WIFMX	0.47	0.66		-0.21	0.52	-0.44	-0.01	0.52	WIFMX
ECSWX	-0.04	0.19	-0.21		-0.63	0.57	0.23	-0.24	ECSWX
VSMGX	0.67	0.46	0.52	-0.63		-0.26	0.15	0.71	VSMGX
EGLNX	0.35	0.18	-0.44	0.57	-0.26		0.37	0.04	EGLNX
ANGCX	0.53	0.53	-0.01	0.23	0.15	0.37		0.61	ANGCX
IGIEX	0.82	0.77	0.52	-0.24	0.71	0.04	0.61		IGIEX
	RBLCX	SEDAX	WIFMX	ECSWX	VSMGX	EGLNX	ANGCX	IGIEX

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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

SEDAX	+ 0.83	RBLCX
IGIEX	+ 0.82	RBLCX
IGIEX	+ 0.77	SEDAX
IGIEX	+ 0.71	VSMGX
VSMGX	+ 0.67	RBLCX
WIFMX	+ 0.66	SEDAX

High negative correlations

VSMGX	- 0.63	ECSWX
EGLNX	- 0.44	WIFMX
EGLNX	- 0.26	VSMGX
IGIEX	- 0.24	ECSWX
ECSWX	- 0.21	WIFMX
ECSWX	- 0.04	RBLCX

Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs Prudent 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 Prudent'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
RBLCX	0.38	(0.01)	(0.11)	0.06	0.57	(0.37)	0.77	(0.76)	2.90
SEDAX	0.26	0.00	(0.22)	0.15	0.25	(0.33)	0.60	(0.47)	2.16
WIFMX	0.54	(0.04)	0.00	12.62	0.00	0.00	1.11	(1.38)	3.07
ECSWX	0.63	0.06	(0.03)	(1.15)	0.83	(0.66)	1.49	(1.39)	6.16
VSMGX	0.43	(0.07)	0.00	(0.12)	0.00	0.00	0.79	(0.85)	5.30
EGLNX	0.97	0.16	0.07	0.48	1.32	(1.01)	2.03	(2.48)	6.78
ANGCX	0.11	0.00	(0.54)	(0.07)	0.05	(0.21)	0.35	(0.24)	0.94
IGIEX	0.25	0.00	(0.21)	0.10	0.28	(0.31)	0.60	(0.49)	2.17

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