Massmutual Select Correlations

Mutual Funds . USA . 
Fund . Massmutual Select Mid
MMELX Fund  USD 16.35  0.06  0.37%   
The current 90-days correlation between Massmutual Select Mid and Massmutual Select Mid is 0.1 (i.e., Average 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

Weak diversification

The correlation between Massmutual Select Mid and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Select Mid 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 Mid. 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 bureau of economic analysis.

Moving together with Massmutual Mutual Fund

  0.96MLUAX Massmutual Select MidPairCorr
  0.96MLUFX Massmutual Select MidPairCorr
  0.96MLUNX Massmutual Select MidPairCorr
  0.96MLULX Massmutual Select MidPairCorr
  0.96MLUSX Massmutual Select MidPairCorr
  0.96MLUZX Massmutual Select MidPairCorr
  0.96MLUYX Massmutual Select MidPairCorr
  0.98MMBRX Massmutual PremierPairCorr
  0.66MMBVX Massmutual SelectPairCorr
  0.94MMBUX Massmutual SelectPairCorr
  0.75MMBZX Massmutual SelectPairCorr
  0.68MMBYX Massmutual SelectPairCorr
  0.67MMBWX Massmutual SelectPairCorr
  0.71MMCBX Massmutual PremierPairCorr
  0.92MMARX Massmutual RetiresmartPairCorr
  0.67MMBEX Massmutual SelectPairCorr
  0.96MMBDX Massmutual PremierPairCorr
  0.96MMBLX Massmutual PremierPairCorr
  0.92MMDFX Massmutual SelectPairCorr
  0.92MMDDX Massmutual SelectPairCorr
  0.87MMDJX Massmutual SelectPairCorr
  0.92MMDHX Massmutual SelectPairCorr
  0.88MMDGX Massmutual SelectPairCorr
  0.87MMDMX Massmutual SelectPairCorr
  0.87MMDKX Massmutual SelectPairCorr
  0.92MMDOX Massmutual SelectPairCorr
  0.92MMFZX Massmutual SelectPairCorr
  0.94MMFYX Massmutual Select FocusedPairCorr
  0.88MMFWX Massmutual SelectPairCorr
  0.93MMGEX Massmutual Select SmallPairCorr
  0.67MMFBX Massmutual SelectPairCorr
  0.98MMFFX Mm Sp 500PairCorr
  0.75MMFEX Massmutual SelectPairCorr
  0.66MMFDX Massmutual SelectPairCorr
  0.67MMFJX Massmutual SelectPairCorr
  0.67MMFHX Massmutual SelectPairCorr
  0.68MMFGX Massmutual SelectPairCorr
  0.76MMFLX Massmutual SelectPairCorr
  0.69MMFKX Massmutual SelectPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MLUAX  0.78 (0.20) 0.00 (0.52) 0.00 
 0.00 
 1.17 
(1.45)
 13.02 
MLUFX  0.78 (0.20) 0.00 (0.53) 0.00 
 0.00 
 1.12 
(1.48)
 13.24 
MLUNX  0.78 (0.20) 0.00 (0.54) 0.00 
 0.00 
 1.12 
(1.49)
 13.17 
MLULX  0.77 (0.19) 0.00 (0.50) 0.00 
 0.00 
 1.22 
(1.49)
 12.68 
MLUSX  0.78 (0.20) 0.00 (0.52) 0.00 
 0.00 
 1.25 
(1.44)
 12.79 
MLUZX  0.78 (0.20) 0.00 (0.53) 0.00 
 0.00 
 1.19 
(1.47)
 13.09 
MLUYX  0.78 (0.20) 0.00 (0.54) 0.00 
 0.00 
 1.18 
(1.37)
 13.07 
MMBRX  0.47 (0.10) 0.00 (0.40) 0.00 
 0.00 
 0.80 
(1.09)
 6.58 
MMBVX  0.28 (0.02) 0.00 (0.13) 0.00 
 0.00 
 0.50 
(0.63)
 2.45 
MMBUX  1.05 (0.26) 0.00 (0.37) 0.00 
 0.00 
 1.37 
(1.40)
 22.86 

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