Massmutual Select Correlations

MMGEX Fund

USD 7.80 0.10 1.27%

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

Very poor diversification

The correlation between Massmutual Select Small and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Select Small 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 Small. 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 services.

Moving together with Massmutual Mutual Fund

0.68	MMCBX	Massmutual Premier	Pair Corr
0.97	MMELX	Massmutual Select Mid	Pair Corr
0.81	MMFFX	Mm Sp 500	Pair Corr
0.97	MMIEX	Mm Sp 500	Pair Corr
0.97	MMINX	Mm Sp 500	Pair Corr
0.81	MMIZX	Mm Sp 500	Pair Corr
0.82	MMJCX	Massmutual Advantage	Pair Corr
0.91	MMNBX	Mmnbx	Pair Corr
0.98	MMOJX	Mmojx	Pair Corr
0.97	MMNGX	Mmngx	Pair Corr
0.73	MMNWX	Mmnwx	Pair Corr
0.79	MMZQX	Massmutual Clinton	Pair Corr
0.96	DLBMX	Massmutual Premier Small	Pair Corr
0.86	DLHYX	Massmutual Premier High	Pair Corr
0.72	MOORX	Massmutual Premier Small	Pair Corr
1.0	MOSNX	Massmutual Select	Pair Corr
0.98	MOSLX	Massmutual Select	Pair Corr
0.9	MOSSX	Massmutual Select	Pair Corr
0.98	MOSZX	Massmutual Select	Pair Corr
0.97	MOSYX	Massmutual Select	Pair Corr
1.0	MOSAX	Massmutual Select	Pair Corr
0.97	MOSFX	Massmutual Select	Pair Corr
0.86	MPHAX	Massmutual Premier High	Pair Corr
0.86	MPHLX	Massmutual Premier High	Pair Corr
0.85	MPHNX	Massmutual Prem High	Pair Corr
0.85	MPHSX	Massmutual Premier High	Pair Corr
0.86	MPHRX	Massmutual Premier High	Pair Corr
0.85	MPHZX	Massmutual Premier High	Pair Corr
0.84	BXDLX	Massmutual Short-duration	Pair Corr
0.85	MSBYX	Massmutual Premier	Pair Corr
0.83	MSDNX	Massmutual Premier	Pair Corr
0.94	MSCDX	Massmutual Premier Small	Pair Corr
0.94	MSCLX	Massmutual Premier Small	Pair Corr
0.98	MSCYX	Massmutual Select Small	Pair Corr

Moving against Massmutual Mutual Fund

0.96	MMZMX	Mmzmx	Pair Corr
0.38	MMODX	Mmodx	Pair Corr
0.44	MPSAX	Massmutual Premier	Pair Corr
0.99	MBCGX	Massmutual Select Blue	Pair Corr
0.96	MBCLX	Massmutual Select Blue	Pair Corr

Related Correlations Analysis

	PFSQX	IAAEX	ICFAX	FNPIX	FTIXX
PFSQX		0.94	0.83	0.76	0.0	PFSQX
IAAEX	0.94		0.73	0.53	0.0	IAAEX
ICFAX	0.83	0.73		0.78	0.0	ICFAX
FNPIX	0.76	0.53	0.78		0.0	FNPIX
FTIXX	0.0	0.0	0.0	0.0		FTIXX
	PFSQX	IAAEX	ICFAX	FNPIX	FTIXX

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

IAAEX	+ 0.94	PFSQX
ICFAX	+ 0.83	PFSQX
FNPIX	+ 0.78	ICFAX
FNPIX	+ 0.76	PFSQX
ICFAX	+ 0.73	IAAEX
FNPIX	+ 0.53	IAAEX

High negative correlations

FTIXX	- 0.0	FNPIX
FTIXX	- 0.0	ICFAX
FTIXX	- 0.0	IAAEX
FTIXX	- 0.0	PFSQX

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
PFSQX	0.92	0.16	0.15	0.17	0.79	(1.05)	1.93	(1.75)	12.00
IAAEX	0.96	0.40	0.52	1.13	0.00	(1.25)	1.94	(0.97)	19.44
ICFAX	0.87	0.25	0.34	0.28	0.27	(1.22)	1.66	(0.98)	14.63
FNPIX	1.03	(0.02)	(0.01)	0.02	1.39	(1.01)	1.85	(2.16)	6.55
FTIXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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