Massmutual Select Correlations

MBCSX Fund

USD 23.64 0.20 0.85%

The current 90-days correlation between Massmutual Select Blue and Scharf Global Opportunity is 0.39 (i.e., Weak diversification). The correlation of Massmutual Select 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.

Massmutual Select Correlation With Market

Very weak diversification

The correlation between Massmutual Select Blue and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Select Blue 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 Massmutual Select Blue. 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 state.

Moving against Massmutual Mutual Fund

0.55	MMIUX	Massmutual Select	Pair Corr
0.38	MMNRX	Massmutual Retiresmart	Pair Corr
0.38	MMNTX	Massmutual Retiresmart	Pair Corr
0.35	MMFGX	Massmutual Select	Pair Corr
0.35	MMIAX	Massmutual Premier	Pair Corr
0.34	MMFBX	Massmutual Select	Pair Corr
0.34	MMFEX	Massmutual Select	Pair Corr

Related Correlations Analysis

	WRLDX	VOLJX	IAADX	FFCGX	BBBMX	VOLMX	CPUCX	FIJFX
WRLDX		0.75	0.24	0.84	0.55	0.77	-0.34	0.74	WRLDX
VOLJX	0.75		0.09	0.66	0.49	0.74	-0.34	0.62	VOLJX
IAADX	0.24	0.09		0.37	0.12	-0.11	0.52	0.39	IAADX
FFCGX	0.84	0.66	0.37		0.63	0.8	-0.41	0.89	FFCGX
BBBMX	0.55	0.49	0.12	0.63		0.78	-0.5	0.53	BBBMX
VOLMX	0.77	0.74	-0.11	0.8	0.78		-0.73	0.65	VOLMX
CPUCX	-0.34	-0.34	0.52	-0.41	-0.5	-0.73		-0.36	CPUCX
FIJFX	0.74	0.62	0.39	0.89	0.53	0.65	-0.36		FIJFX
	WRLDX	VOLJX	IAADX	FFCGX	BBBMX	VOLMX	CPUCX	FIJFX

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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

FIJFX	+ 0.89	FFCGX
FFCGX	+ 0.84	WRLDX
VOLMX	+ 0.8	FFCGX
VOLMX	+ 0.78	BBBMX
VOLMX	+ 0.77	WRLDX
VOLJX	+ 0.75	WRLDX

High negative correlations

CPUCX	- 0.73	VOLMX
CPUCX	- 0.5	BBBMX
CPUCX	- 0.41	FFCGX
FIJFX	- 0.36	CPUCX
CPUCX	- 0.34	VOLJX
CPUCX	- 0.34	WRLDX

Risk-Adjusted Indicators

There is a big difference between Massmutual Mutual Fund performing well and Massmutual Select 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 Massmutual Select'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
WRLDX	0.48	(0.03)	(0.13)	0.08	0.45	(0.56)	0.92	(0.97)	2.75
VOLJX	0.77	0.07	(0.04)	(1.62)	1.21	(0.74)	1.47	(2.02)	4.97
IAADX	0.16	(0.01)	(0.63)	(0.02)	0.13	(0.25)	0.43	(0.32)	1.19
FFCGX	0.56	(0.05)	(0.11)	0.05	0.71	(0.59)	1.26	(1.23)	3.41
BBBMX	0.05	0.01	(1.06)	(0.64)	0.00	(0.17)	0.10	(0.10)	0.49
VOLMX	0.60	0.01	0.00	0.13	0.57	(0.69)	1.14	(1.35)	4.49
CPUCX	0.24	(0.02)	0.00	0.61	0.00	0.00	0.44	(0.54)	1.29
FIJFX	0.76	0.00	(0.06)	0.00	0.88	(0.81)	1.63	(1.48)	4.27

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