Mfs Government Correlations

MFGKX Fund

USD 8.59 0.02 0.23%

The current 90-days correlation between Mfs Government Securities and T Rowe Price is 0.02 (i.e., Significant diversification). The correlation of Mfs Government 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 Government Correlation With Market

Good diversification

The correlation between Mfs Government Securities and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs Government Securities 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 Government Securities. 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 industry.

Moving together with Mfs Mutual Fund

0.67	MKVCX	Mfs International Large	Pair Corr
0.66	MKVBX	Mfs International Large	Pair Corr
0.66	MKVGX	Mfs International Large	Pair Corr
0.66	MKVFX	Mfs International Large	Pair Corr
0.66	MKVEX	Mfs International Large	Pair Corr
0.68	MKVDX	Mfs International Large	Pair Corr
0.66	MKVIX	Mfs International Large	Pair Corr
0.66	MKVHX	Mfs Series Trust	Pair Corr

Moving against Mfs Mutual Fund

0.64	UIVIX	Mfs Intrinsic Value	Pair Corr
0.62	UIVCX	Mfs Intrinsic Value	Pair Corr
0.56	LFTKX	Mfs Lifetime 2065	Pair Corr
0.54	LFTFX	Mfs Lifetime 2065	Pair Corr
0.54	LFTHX	Mfs Lifetime 2065	Pair Corr
0.54	LFTMX	Mfs Lifetime 2065	Pair Corr
0.54	LFTNX	Mfs Lifetime 2065	Pair Corr
0.54	LFTLX	Mfs Lifetime 2065	Pair Corr
0.52	LFTJX	Mfs Lifetime 2065	Pair Corr
0.52	LFTGX	Mfs Lifetime 2065	Pair Corr
0.32	HYPPX	Mfs High Yield	Pair Corr
0.68	OTCHX	Mfs Mid Cap	Pair Corr
0.68	OTCIX	Mfs Mid Cap	Pair Corr
0.68	OTCJX	Mfs Mid Cap	Pair Corr
0.68	OTCKX	Mfs Mid Cap	Pair Corr
0.68	OTCGX	Mfs Mid Cap	Pair Corr
0.64	UIVQX	Mfs Intrinsic Value	Pair Corr
0.64	UIVRX	Mfs Intrinsic Value	Pair Corr
0.63	UIVPX	Mfs Intrinsic Value	Pair Corr
0.63	UIVNX	Mfs Intrinsic Value	Pair Corr
0.63	UIVVX	Mfs Intrinsic Value	Pair Corr
0.62	UIVMX	Mfs Intrinsic Value	Pair Corr
0.68	OTCAX	Mfs Mid Cap	Pair Corr
0.68	OTCBX	Mfs Mid Cap	Pair Corr
0.68	OTCCX	Mfs Mid Cap	Pair Corr

Related Correlations Analysis

	PACEX	USCBX	MDMTX	IMLXX	BSGAX	PRVBX
PACEX		0.31	0.01	0.57	0.67	0.73	PACEX
USCBX	0.31		0.75	-0.24	0.55	0.18	USCBX
MDMTX	0.01	0.75		-0.59	0.22	-0.19	MDMTX
IMLXX	0.57	-0.24	-0.59		0.18	0.44	IMLXX
BSGAX	0.67	0.55	0.22	0.18		0.76	BSGAX
PRVBX	0.73	0.18	-0.19	0.44	0.76		PRVBX
	PACEX	USCBX	MDMTX	IMLXX	BSGAX	PRVBX

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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

PRVBX	+ 0.76	BSGAX
MDMTX	+ 0.75	USCBX
PRVBX	+ 0.73	PACEX
BSGAX	+ 0.67	PACEX
IMLXX	+ 0.57	PACEX
BSGAX	+ 0.55	USCBX

High negative correlations

IMLXX	- 0.59	MDMTX
IMLXX	- 0.24	USCBX
PRVBX	- 0.19	MDMTX

Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs Government 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 Government'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
PACEX	0.12	0.00	(0.72)	0.33	0.00	(0.22)	0.32	(0.22)	0.97
USCBX	0.15	0.02	(0.27)	(0.04)	0.23	(0.23)	0.39	(0.29)	1.74
MDMTX	0.16	(0.01)	(0.33)	(0.23)	0.25	(0.23)	0.38	(0.56)	1.33
IMLXX	0.03	0.01	0.00	(0.37)	0.00	0.00	0.00	0.00	1.01
BSGAX	0.09	0.00	(0.76)	(0.12)	0.00	(0.16)	0.24	(0.12)	0.72
PRVBX	0.09	0.00	(0.93)	0.33	0.00	(0.10)	0.20	(0.20)	0.53

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