Mfs Municipal Correlations

Mutual Funds . USA . 
Fund . Mfs Municipal Income
MIMIX Fund  USD 8.20  0.01  0.12%   
The current 90-days correlation between Mfs Municipal Income and Prudential High Yield is 0.61 (i.e., Poor diversification). The correlation of Mfs Municipal 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 Municipal Correlation With Market

Significant diversification

The correlation between Mfs Municipal Income and DJI is 0.03 (i.e., Significant 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 mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with Mfs Mutual Fund

  0.7LFTFX Mfs Lifetime 2065PairCorr
  0.7LFTJX Mfs Lifetime 2065PairCorr
  0.7LFTGX Mfs Lifetime 2065PairCorr
  0.7LFTHX Mfs Lifetime 2065PairCorr
  0.7LFTMX Mfs Lifetime 2065PairCorr
  0.65LFTNX Mfs Lifetime 2065PairCorr
  0.7LFTKX Mfs Lifetime 2065PairCorr
  0.65LFTLX Mfs Lifetime 2065PairCorr
  0.67UIVIX Mfs Intrinsic ValuePairCorr
  0.67UIVCX Mfs Intrinsic ValuePairCorr
  0.67UIVPX Mfs Intrinsic ValuePairCorr
  0.67UIVQX Mfs Intrinsic ValuePairCorr
  0.67UIVNX Mfs Intrinsic ValuePairCorr
  0.67UIVMX Mfs Intrinsic ValuePairCorr
  0.72UIVVX Mfs Intrinsic ValuePairCorr
  0.67UIVRX Mfs Intrinsic ValuePairCorr
  0.61OTCIX Mfs Mid CapPairCorr
  0.61OTCJX Mfs Mid CapPairCorr
  0.62OTCKX Mfs Mid CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs Municipal 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 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.

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