Massmutual Select Correlations

MMDHX Fund

USD 18.85 0.03 0.16%

The current 90-days correlation between Massmutual Select and Shelton Emerging Markets is 0.23 (i.e., Modest diversification). The correlation of Massmutual Select 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.

Massmutual Select Correlation With Market

Significant diversification

The correlation between Massmutual Select T and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Select T 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 Massmutual Select T. 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 rate.

Moving together with Massmutual Mutual Fund

0.82	VFIFX	Vanguard Target Reti	Pair Corr
0.82	AALTX	American Funds 2050	Pair Corr
0.82	CCITX	American Funds 2050	Pair Corr
0.82	FAITX	American Funds 2050	Pair Corr
0.75	FFFHX	Fidelity Freedom 2050	Pair Corr
0.82	FZTKX	Fidelity Freedom 2050	Pair Corr
0.82	FRLPX	Fidelity Freedom Index	Pair Corr
0.85	TRJLX	T Rowe Price	Pair Corr
0.82	FIPFX	Fidelity Freedom Index	Pair Corr
0.62	GAB	Gabelli Equity Trust	Pair Corr
0.74	TRLCX	Tiaa-cref Large-cap	Pair Corr
0.63	WWNPX	Kinetics Paradigm Steady Growth	Pair Corr
0.81	PRDSX	T Rowe Price	Pair Corr
0.72	TEGYX	Mid Cap Growth	Pair Corr
0.63	KMKNX	Kinetics Market Oppo Steady Growth	Pair Corr
0.76	HFCGX	Hennessy Nerstone Growth	Pair Corr
0.7	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.74	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.68	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.71	HD	Home Depot	Pair Corr
0.73	HPQ	HP Inc	Pair Corr

Moving against Massmutual Mutual Fund

0.54	PFHCX	Pacific Funds Small	Pair Corr
0.52	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.46	KO	Coca Cola Aggressive Push	Pair Corr
0.4	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.38	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.31	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	EMSLX	IHIAX	VEIEX	BOGSX	ANGCX	TPPAX	APDOX
EMSLX		0.38	0.91	0.47	-0.02	0.52	0.46	EMSLX
IHIAX	0.38		0.35	-0.14	0.79	0.29	0.04	IHIAX
VEIEX	0.91	0.35		0.57	-0.08	0.64	0.62	VEIEX
BOGSX	0.47	-0.14	0.57		-0.63	0.86	0.77	BOGSX
ANGCX	-0.02	0.79	-0.08	-0.63		-0.27	-0.42	ANGCX
TPPAX	0.52	0.29	0.64	0.86	-0.27		0.81	TPPAX
APDOX	0.46	0.04	0.62	0.77	-0.42	0.81		APDOX
	EMSLX	IHIAX	VEIEX	BOGSX	ANGCX	TPPAX	APDOX

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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

VEIEX	+ 0.91	EMSLX
TPPAX	+ 0.86	BOGSX
APDOX	+ 0.81	TPPAX
ANGCX	+ 0.79	IHIAX
APDOX	+ 0.77	BOGSX
TPPAX	+ 0.64	VEIEX

High negative correlations

ANGCX	- 0.63	BOGSX
APDOX	- 0.42	ANGCX
TPPAX	- 0.27	ANGCX
BOGSX	- 0.14	IHIAX
ANGCX	- 0.08	VEIEX
ANGCX	- 0.02	EMSLX

Risk-Adjusted Indicators

There is a big difference between Massmutual Mutual Fund performing well and Massmutual Select 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 Massmutual Select'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
EMSLX	0.72	(0.03)	0.00	(1.49)	0.00	0.00	1.76	(1.08)	6.36
IHIAX	0.19	(0.01)	(0.45)	(0.07)	0.19	(0.30)	0.38	(0.38)	1.65
VEIEX	0.71	(0.03)	(0.12)	0.04	0.85	(0.78)	1.55	(1.68)	4.60
BOGSX	0.94	(0.09)	(0.04)	0.05	1.37	(0.94)	1.88	(2.25)	5.68
ANGCX	0.10	(0.01)	(0.78)	0.44	0.11	(0.16)	0.23	(0.23)	0.70
TPPAX	0.32	(0.03)	(0.19)	0.05	0.43	(0.32)	0.63	(0.71)	1.91
APDOX	0.14	0.03	(0.53)	3.31	0.00	(0.21)	0.39	(0.19)	0.78

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