Mfs Maryland Correlations

Mutual Funds USA . 
Fund . Mfs Maryland Municipal
MBMDX Fund  USD 10.13  0.01  0.1%   
The current 90-days correlation between Mfs Maryland Municipal and Bbh Intermediate Municipal is -0.23 (i.e., Very good diversification). The correlation of Mfs Maryland 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.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mfs Maryland 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 unemployment.

Moving together with Mfs Mutual Fund

  0.84TFBIX Maryland Tax FreePairCorr
  0.86MDXBX Maryland Tax FreePairCorr
  0.86PRVAX Virginia Tax FreePairCorr
  0.86TFBVX Virginia Tax FreePairCorr
  0.88FOFZX Franklin Oregon TaxPairCorr
  0.88FOFRX Franklin Oregon TaxPairCorr
  0.84FRMZX Franklin Missouri TaxPairCorr
  0.84FMOQX Franklin Missouri TaxPairCorr
  0.76FRORX Franklin Oregon TaxPairCorr
  0.88FORIX Franklin Oregon TaxPairCorr

Moving against Mfs Mutual Fund

  0.36DXQLX Direxion Monthly NasdaqPairCorr
  0.36RYVLX Nasdaq 100 2xPairCorr
  0.36RYVYX Nasdaq 100 2xPairCorr
  0.36UOPIX Ultra Nasdaq 100PairCorr
  0.36INPIX Internet UltrasectorPairCorr
  0.36INPSX Internet UltrasectorPairCorr
  0.35RYCCX Nasdaq 100 2xPairCorr
  0.35UOPSX Ultranasdaq 100 ProfundPairCorr
  0.4FSRBX Banking Portfolio BankingPairCorr
  0.39WWNPX Kinetics Paradigm Steady GrowthPairCorr
  0.38SDGTX Deutsche Capital GrowthPairCorr
  0.38LGPIX Large Cap GrowthPairCorr
  0.38WCEYX Ivy E EquityPairCorr
  0.38KMKNX Kinetics Market Oppo Steady GrowthPairCorr
  0.37AMEIX Equity GrowthPairCorr

Related Correlations Analysis

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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   
MDMTX
+ 0.89
NEITX
PATFX
+ 0.88
BBINX
MDMTX
+ 0.87
BBINX
NEITX
+ 0.85
BBINX
PATFX
+ 0.85
NEITX
PATFX
+ 0.79
MBSAX
  
High negative correlations   
MDMTX
- 0.61
JFIFX
JFIFX
- 0.5
NEITX
JFIFX
- 0.45
BBINX
PATFX
- 0.33
JFIFX
MDMTX
- 0.19
PRVBX
JFIFX
- 0.19
MBSAX

Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs Maryland 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 Maryland'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.

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