Mmngx Correlations

MMNGX Fund

19.66 0.10 0.51%

The correlation of Mmngx 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.

Mmngx Correlation With Market

Weak diversification

The correlation between Mmngx and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mmngx 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 Mmngx. 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 price.

Moving together with Mmngx Mutual Fund

0.94	MLUAX	Massmutual Select Mid	Pair Corr
0.85	MLUSX	Massmutual Select Mid	Pair Corr
0.97	MMBUX	Massmutual Select	Pair Corr
0.73	MMARX	Massmutual Retiresmart	Pair Corr
0.96	MMELX	Massmutual Select Mid	Pair Corr
0.88	MMDFX	Massmutual Select	Pair Corr
0.88	MMDGX	Massmutual Select	Pair Corr
0.79	MMDMX	Massmutual Select	Pair Corr
0.98	MMFYX	Massmutual Select Focused	Pair Corr
0.79	MMFWX	Massmutual Select	Pair Corr
0.61	MMFEX	Massmutual Select	Pair Corr
0.78	MMFOX	Massmutual Select	Pair Corr
0.96	MMFVX	Massmutual Select Focused	Pair Corr
0.78	MMFUX	Massmutual Select	Pair Corr
0.79	MMFTX	Massmutual Select	Pair Corr
0.91	MMIAX	Massmutual Premier	Pair Corr
0.86	MMIEX	Mm Sp 500	Pair Corr
0.98	MMINX	Mm Sp 500	Pair Corr
0.72	MMIUX	Massmutual Select	Pair Corr
0.75	MMIYX	Massmutual Retiresmart	Pair Corr
0.72	MMKAX	Massmutual Retiresmart	Pair Corr
0.87	MMKNX	Massmutual Retiresmart	Pair Corr
0.72	MMKTX	Massmutual Retiresmart	Pair Corr
0.72	MMKSX	Massmutual Retiresmart	Pair Corr
0.72	MMKUX	Massmutual Retiresmart	Pair Corr
0.72	MMKYX	Massmutual Retiresmart	Pair Corr
0.75	MMJAX	Massmutual Retiresmart	Pair Corr
0.87	MMNJX	Mmnjx	Pair Corr

Related Correlations Analysis

	PBMXX	FICMX	FITSX	SMAAX	HUMXX	SWGXX	RFBAX
PBMXX		0.0	0.0	0.0	0.0	0.0	0.0	PBMXX
FICMX	0.0		1.0	0.86	0.0	-0.48	0.08	FICMX
FITSX	0.0	1.0		0.86	0.0	-0.47	0.07	FITSX
SMAAX	0.0	0.86	0.86		0.0	-0.36	0.26	SMAAX
HUMXX	0.0	0.0	0.0	0.0		0.0	0.0	HUMXX
SWGXX	0.0	-0.48	-0.47	-0.36	0.0		0.53	SWGXX
RFBAX	0.0	0.08	0.07	0.26	0.0	0.53		RFBAX
	PBMXX	FICMX	FITSX	SMAAX	HUMXX	SWGXX	RFBAX

Click cells to compare fundamentals

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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

FITSX	+ 1.0	FICMX
SMAAX	+ 0.86	FICMX
SMAAX	+ 0.86	FITSX
RFBAX	+ 0.53	SWGXX
RFBAX	+ 0.26	SMAAX
RFBAX	+ 0.08	FICMX

High negative correlations

SWGXX	- 0.48	FICMX
SWGXX	- 0.47	FITSX
SWGXX	- 0.36	SMAAX
RFBAX	- 0.0	HUMXX
SWGXX	- 0.0	HUMXX
HUMXX	- 0.0	SMAAX

Risk-Adjusted Indicators

There is a big difference between Mmngx Mutual Fund performing well and Mmngx 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 Mmngx'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
PBMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
FICMX	0.26	(0.02)	(0.22)	(0.11)	0.33	(0.29)	0.57	(0.57)	1.72
FITSX	0.26	(0.02)	0.00	(0.11)	0.00	0.00	0.57	(0.57)	1.83
SMAAX	0.15	0.00	(0.21)	(0.16)	0.22	(0.18)	0.30	(0.30)	1.40
HUMXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SWGXX	0.03	0.01	0.00	(0.10)	0.00	0.00	0.00	0.00	1.01
RFBAX	0.08	0.01	(0.30)	(1.08)	0.00	(0.23)	0.20	(0.20)	0.79

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