Mfs Global Correlations

MGLCX Fund

USD 17.55 0.03 0.17%

The current 90-days correlation between Mfs Global Real and Vanguard Emerging Markets is -0.22 (i.e., Very good diversification). The correlation of Mfs Global 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 Global Correlation With Market

Significant diversification

The correlation between Mfs Global Real and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs Global Real 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 Global Real. 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 main economic indicators.

Moving together with Mfs Mutual Fund

0.92	DFGEX	Dfa Global Real	Pair Corr
0.77	VGRNX	Vanguard Global Ex	Pair Corr
0.9	DFITX	Dfa International Real	Pair Corr
0.77	VGRLX	Vanguard Global Ex	Pair Corr
0.94	PGRKX	Global Real Estate	Pair Corr
0.94	PGRUX	Global Real Estate	Pair Corr
0.88	PGRVX	Global Real Estate	Pair Corr
0.94	MGLAX	Mfs Global Real	Pair Corr
0.88	MGLIX	Mfs Global Real	Pair Corr
0.83	BRUFX	Bruce Fund Bruce	Pair Corr
0.61	KF	Korea Closed	Pair Corr
0.84	KO	Coca Cola Aggressive Push	Pair Corr
0.64	VZ	Verizon Communications Aggressive Push	Pair Corr

Moving against Mfs Mutual Fund

0.71	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.56	SPGSX	State Street Premier	Pair Corr
0.54	XGEIX	Guggenheim Energy Income	Pair Corr
0.53	HFCGX	Hennessy Nerstone Growth	Pair Corr
0.53	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.5	PRDSX	T Rowe Price	Pair Corr
0.35	GAB	Gabelli Equity Trust	Pair Corr
0.72	FSRBX	Banking Portfolio Banking	Pair Corr
0.71	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
0.63	TEGYX	Mid Cap Growth	Pair Corr
0.58	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.57	HPQ	HP Inc	Pair Corr
0.56	DIS	Walt Disney Aggressive Push	Pair Corr
0.51	WMT	Walmart Aggressive Push	Pair Corr
0.5	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.47	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.38	T	ATT Inc Sell-off Trend	Pair Corr
0.38	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	VEIEX	ABNTX	DODEX	PACEX	APDOX	BXECX	BOGSX
VEIEX		0.24	0.95	0.87	0.62	0.65	0.57	VEIEX
ABNTX	0.24		0.21	0.35	-0.17	0.8	-0.34	ABNTX
DODEX	0.95	0.21		0.88	0.59	0.63	0.53	DODEX
PACEX	0.87	0.35	0.88		0.65	0.76	0.4	PACEX
APDOX	0.62	-0.17	0.59	0.65		0.33	0.77	APDOX
BXECX	0.65	0.8	0.63	0.76	0.33		0.1	BXECX
BOGSX	0.57	-0.34	0.53	0.4	0.77	0.1		BOGSX
	VEIEX	ABNTX	DODEX	PACEX	APDOX	BXECX	BOGSX

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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

DODEX	+ 0.95	VEIEX
PACEX	+ 0.88	DODEX
PACEX	+ 0.87	VEIEX
BXECX	+ 0.8	ABNTX
BOGSX	+ 0.77	APDOX
BXECX	+ 0.76	PACEX

High negative correlations

BOGSX	- 0.34	ABNTX
APDOX	- 0.17	ABNTX

Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs Global 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 Global'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
VEIEX	0.71	(0.03)	(0.12)	0.04	0.85	(0.78)	1.55	(1.68)	4.60
ABNTX	0.14	(0.01)	0.00	(0.83)	0.00	0.00	0.29	(0.30)	0.88
DODEX	0.67	0.03	(0.10)	(0.16)	0.88	(0.72)	1.44	(1.90)	5.43
PACEX	0.12	0.00	(0.72)	0.33	0.00	(0.22)	0.32	(0.22)	0.97
APDOX	0.14	0.03	(0.53)	3.31	0.00	(0.21)	0.39	(0.19)	0.78
BXECX	0.26	(0.02)	(0.38)	(0.03)	0.26	(0.38)	0.65	(0.40)	1.45
BOGSX	0.94	(0.09)	(0.04)	0.05	1.37	(0.94)	1.88	(2.25)	5.68

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