MFS Active Correlations

MFSM Etf

25.37 0.04 0.16%

The current 90-days correlation between MFS Active Intermediate and New York Life is 0.61 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MFS Active moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MFS Active Intermediate moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

MFS Active Correlation With Market

Very poor diversification

The correlation between MFS Active Intermediate and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MFS Active Intermediate and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MFS Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MFS Active Intermediate. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with MFS Etf

0.97	MUB	iShares National Muni	Pair Corr
0.99	VTEB	Vanguard Tax Exempt	Pair Corr
0.98	FMB	First Trust Managed	Pair Corr
0.96	ITM	VanEck Intermediate Muni	Pair Corr
0.99	DFNM	Dimensional ETF Trust	Pair Corr
0.99	MMIT	IQ MacKay Municipal	Pair Corr
0.99	HMOP	Hartford Municipal	Pair Corr
0.99	TAXF	American Century Div	Pair Corr
0.99	JMUB	JPMorgan Municipal	Pair Corr
0.96	MUST	Columbia Multi Sector	Pair Corr
0.62	TOT	Advisor Managed Port	Pair Corr
0.82	SHLD	Global X Defense	Pair Corr
0.79	LUX	Tema Global	Pair Corr
0.77	FB	ProShares Trust ProShares	Pair Corr
0.88	SWP	SWP Growth Income	Pair Corr
0.87	FNGD	MicroSectors FANG Index	Pair Corr
0.84	CALY	Callaway Golf Symbol Change	Pair Corr
0.68	FXC	Invesco CurrencyShares	Pair Corr
0.82	GAPR	First Trust Exchange	Pair Corr
0.96	LVHI	Franklin International	Pair Corr
0.92	UDI	USCF ETF Trust	Pair Corr
0.95	EWT	iShares MSCI Taiwan	Pair Corr
0.82	UMAY	Innovator ETFs Trust	Pair Corr
0.95	SCDV	ETF Series Solutions	Pair Corr
0.94	DFSD	Dimensional ETF Trust	Pair Corr
0.71	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.89	QLV	FlexShares Quality Low	Pair Corr
0.87	FPXE	First Trust IPOX	Pair Corr
0.95	GENW	Spinnaker ETF Series	Pair Corr
0.8	XYLD	Global X SP	Pair Corr
0.97	BSMS	Invesco BulletShares 2028	Pair Corr
0.86	ESML	iShares ESG Aware	Pair Corr
0.95	FIDU	Fidelity MSCI Industrials	Pair Corr
0.83	PFFA	Virtus InfraCap Preferred	Pair Corr
0.92	VGUS	Vanguard Ultra Short	Pair Corr
0.92	JEPI	JPMorgan Equity Premium	Pair Corr
0.81	TLCI	Touchstone ETF Trust	Pair Corr

Moving against MFS Etf

0.52

HUM

Humana Inc

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

MFS Active Competition Risk-Adjusted Indicators

There is a big difference between MFS Etf performing well and MFS Active ETF 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 Active'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
META	1.51	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

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