Massmutual Select Correlations

MDDIX Fund

USD 11.17 0.01 0.09%

The current 90-days correlation between Massmutual Select and Transamerica Intermediate Muni is -0.37 (i.e., Very good 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

Almost no diversification

The correlation between Massmutual Select Diversified and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Select Diversified 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 Diversified. 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 gross domestic product.

Moving together with Massmutual Mutual Fund

0.96	MLUAX	Massmutual Select Mid	Pair Corr
0.92	MLUFX	Massmutual Select Mid	Pair Corr
0.96	MLUNX	Massmutual Select Mid	Pair Corr
0.96	MLULX	Massmutual Select Mid	Pair Corr
0.92	MLUSX	Massmutual Select Mid	Pair Corr
0.97	MLUZX	Massmutual Select Mid	Pair Corr
0.97	MLUYX	Massmutual Select Mid	Pair Corr
0.8	MMBRX	Massmutual Premier	Pair Corr
0.64	MMBVX	Massmutual Select	Pair Corr
0.96	MMBUX	Massmutual Select	Pair Corr
0.62	MMBYX	Massmutual Select	Pair Corr
0.64	MMBWX	Massmutual Select	Pair Corr
0.79	MMARX	Massmutual Retiresmart	Pair Corr
0.84	MMBDX	Massmutual Premier	Pair Corr
0.85	MMBLX	Massmutual Premier	Pair Corr
0.95	MMELX	Massmutual Select Mid	Pair Corr
0.85	MMDFX	Massmutual Select	Pair Corr
0.85	MMDDX	Massmutual Select	Pair Corr
0.85	MMDJX	Massmutual Select	Pair Corr
0.84	MMDHX	Massmutual Select	Pair Corr
0.85	MMDMX	Massmutual Select	Pair Corr
0.85	MMDKX	Massmutual Select	Pair Corr
0.84	MMDOX	Massmutual Select	Pair Corr
0.84	MMFZX	Massmutual Select	Pair Corr
0.84	MMFWX	Massmutual Select	Pair Corr
0.95	MMGEX	Massmutual Select Small	Pair Corr
0.62	MMFBX	Massmutual Select	Pair Corr
0.94	MMFFX	Mm Sp 500	Pair Corr
0.65	MMFDX	Massmutual Select	Pair Corr
0.7	MMFJX	Massmutual Select	Pair Corr
0.71	MMFHX	Massmutual Select	Pair Corr

Moving against Massmutual Mutual Fund

0.7	MMCBX	Massmutual Premier	Pair Corr
0.69	MMBEX	Massmutual Select	Pair Corr
0.66	MMAAX	Massmutual Select Growth	Pair Corr
0.64	MMAZX	Massmutual Select Growth	Pair Corr
0.76	MMIAX	Massmutual Premier	Pair Corr
0.69	MMNWX	Mmnwx	Pair Corr
0.66	MMGFX	Massmutual Select Growth	Pair Corr
0.42	MMIUX	Massmutual Select	Pair Corr

Related Correlations Analysis

	TIMTX	FYMNX	PRFHX	FHYVX	GABTX	OKMUX
TIMTX		0.83	0.95	0.78	-0.17	0.94	TIMTX
FYMNX	0.83		0.87	0.98	0.07	0.72	FYMNX
PRFHX	0.95	0.87		0.84	0.03	0.85	PRFHX
FHYVX	0.78	0.98	0.84		0.19	0.63	FHYVX
GABTX	-0.17	0.07	0.03	0.19		-0.38	GABTX
OKMUX	0.94	0.72	0.85	0.63	-0.38		OKMUX
	TIMTX	FYMNX	PRFHX	FHYVX	GABTX	OKMUX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

FHYVX	+ 0.98	FYMNX
PRFHX	+ 0.95	TIMTX
OKMUX	+ 0.94	TIMTX
PRFHX	+ 0.87	FYMNX
OKMUX	+ 0.85	PRFHX
FHYVX	+ 0.84	PRFHX

High negative correlations

OKMUX	- 0.38	GABTX
GABTX	- 0.17	TIMTX

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
TIMTX	0.15	0.02	(0.32)	(0.05)	0.20	(0.21)	0.37	(0.28)	1.40
FYMNX	0.13	0.00	(0.33)	0.15	0.17	(0.20)	0.37	(0.28)	1.39
PRFHX	0.15	0.02	(0.27)	(0.06)	0.22	(0.23)	0.44	(0.44)	1.61
FHYVX	0.17	0.01	(0.23)	0.33	0.21	(0.26)	0.44	(0.44)	1.88
GABTX	0.51	0.08	(0.07)	13.46	0.48	(0.58)	1.09	(1.00)	3.00
OKMUX	0.15	0.01	(0.24)	0.05	0.23	(0.27)	0.29	(0.47)	1.52

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC