MFS Municipal Correlations

MFM Stock

USD 5.41 0.02 0.37%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MFS Municipal moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MFS Municipal Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

MFS Municipal Correlation With Market

Average diversification

The correlation between MFS Municipal Income and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MFS Municipal Income 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 Municipal Income. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with MFS Stock

0.62	VZ	Verizon Communications	Pair Corr
0.76	JNJ	Johnson Johnson	Pair Corr
0.62	PG	Procter Gamble	Pair Corr
0.74	IBM	International Business	Pair Corr
0.64	GE	GE Aerospace	Pair Corr

Moving against MFS Stock

0.64	MRK	Merck Company	Pair Corr
0.52	AA	Alcoa Corp	Pair Corr
0.45	MSFT	Microsoft	Pair Corr
0.38	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	CBH	EOT	IHTA	MHN	NXC	CXH	FMN	MQY	MQT	CXE
CBH		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	CBH
EOT	0.0		0.0	0.74	0.67	0.77	0.92	0.72	0.92	0.85	EOT
IHTA	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	IHTA
MHN	0.0	0.74	0.0		0.53	0.79	0.72	0.75	0.67	0.81	MHN
NXC	0.0	0.67	0.0	0.53		0.55	0.73	0.73	0.75	0.57	NXC
CXH	0.0	0.77	0.0	0.79	0.55		0.73	0.72	0.78	0.89	CXH
FMN	0.0	0.92	0.0	0.72	0.73	0.73		0.64	0.91	0.8	FMN
MQY	0.0	0.72	0.0	0.75	0.73	0.72	0.64		0.77	0.75	MQY
MQT	0.0	0.92	0.0	0.67	0.75	0.78	0.91	0.77		0.83	MQT
CXE	0.0	0.85	0.0	0.81	0.57	0.89	0.8	0.75	0.83		CXE
	CBH	EOT	IHTA	MHN	NXC	CXH	FMN	MQY	MQT	CXE

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

FMN	+ 0.92	EOT
MQT	+ 0.92	EOT
MQT	+ 0.91	FMN
CXE	+ 0.89	CXH
CXE	+ 0.85	EOT
CXE	+ 0.83	MQT

High negative correlations

CXE	- 0.0	IHTA
MQT	- 0.0	IHTA
MQY	- 0.0	IHTA
FMN	- 0.0	IHTA
CXH	- 0.0	IHTA
NXC	- 0.0	IHTA

Risk-Adjusted Indicators

There is a big difference between MFS Stock performing well and MFS Municipal Company 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 Municipal'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
CBH	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EOT	0.43	0.03	0.16	0.48	0.52	(0.46)	1.01	(0.97)	2.87
IHTA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MHN	0.47	(0.02)	0.00	(0.18)	0.00	0.00	0.87	(1.06)	2.81
NXC	0.35	0.00	0.14	0.05	0.41	(0.38)	0.78	(0.62)	1.98
CXH	0.38	0.00	0.00	(0.11)	0.00	0.00	0.76	(1.00)	2.37
FMN	0.43	0.03	0.16	0.22	0.45	(0.50)	0.81	(0.72)	3.01
MQY	0.52	(0.06)	0.00	(0.30)	0.00	0.00	1.04	(1.18)	2.85
MQT	0.44	0.07	0.24	0.43	0.41	(0.52)	1.10	(0.59)	3.03
CXE	0.59	(0.02)	0.00	(0.30)	0.00	0.00	0.82	(1.08)	4.08

MFS Municipal Corporate Management

James Kilman	Independent Trustee	Profile
Amanda Mooradian	Assistant Secretary, Assistant Clerk	Profile
Susan Pereira	Assistant Secretary and Assistant Clerk	Profile
Laurie Thomsen	Independent Trustee	Profile
CFA CPA	Portfolio Manager	Profile

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