Mfs Alabama Correlations

Mutual Funds . USA . 
Fund . Mfs Alabama Municipal
MBABX Fund  USD 9.51  0.02  0.21%   
The current 90-days correlation between Mfs Alabama Municipal and Mfs Prudent Investor is 0.14 (i.e., Average diversification). The correlation of Mfs Alabama 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 Alabama Correlation With Market

Average diversification

The correlation between Mfs Alabama Municipal and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs Alabama Municipal 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 Mfs Alabama Municipal. 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 bureau of labor statistics.

Moving against Mfs Mutual Fund

  0.4BRSTX Mfs Blended ResearchPairCorr
  0.4BRSUX Mfs Blended ResearchPairCorr
  0.4BRSSX Mfs Blended ResearchPairCorr
  0.4BRSPX Mfs Blended ResearchPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs Alabama 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 Alabama'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
FPPJX  0.28 (0.01)(0.31) 1.39  0.36 
(0.32)
 0.58 
(0.67)
 1.82 
FPPQX  0.28 (0.01) 0.00  0.77  0.00 
 0.00 
 0.59 
(0.67)
 1.74 
FPPRX  0.28  0.00  0.00  0.00  0.00 
 0.00 
 0.59 
(0.76)
 1.85 
FPPSX  0.28 (0.01) 0.00  0.75  0.00 
 0.00 
 0.59 
(0.67)
 1.83 
FPPUX  0.28 (0.01)(0.33) 0.52  0.35 
(0.34)
 0.59 
(0.75)
 1.82 
FPPVX  0.27 (0.01)(0.32) 0.80  0.34 
(0.32)
 0.51 
(0.66)
 1.82 
LFTFX  0.47 (0.02)(0.10) 0.08  0.53 
(0.54)
 0.97 
(0.86)
 3.14 
LFTJX  0.47 (0.03)(0.09) 0.08  0.53 
(0.55)
 0.98 
(0.87)
 3.15 
LFTGX  0.46 (0.03)(0.10) 0.08  0.52 
(0.54)
 0.98 
(0.87)
 3.16 
LFTHX  0.48 (0.02)(0.09) 0.09  0.53 
(0.55)
 0.87 
(0.95)
 3.22 

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