Mmodx Correlations

Mutual Funds USA . 
Fund . Mmodx
MMODX Fund   9.41  0.01  0.11%   
The current 90-days correlation between Mmodx and Massmutual Advantage Funds is -0.04 (i.e., Good diversification). The correlation of Mmodx 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.

Mmodx Correlation With Market

Weak diversification

The correlation between Mmodx and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mmodx 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 Mmodx. 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 small area income & poverty estimates.

Moving together with Mmodx Mutual Fund

  0.81MMCBX Massmutual PremierPairCorr
  0.7MMJAX Massmutual RetiresmartPairCorr
  0.7MMJDX Massmutual AdvantagePairCorr
  0.7MMJCX Massmutual AdvantagePairCorr
  0.75MMNWX MmnwxPairCorr
  0.7MMZQX Massmutual ClintonPairCorr
  0.7MMZVX Massmutual ClintonPairCorr
  0.89MPSAX Massmutual PremierPairCorr
  0.61MPSDX Massmutual PremierPairCorr
  0.63BXDLX Massmutual Short-durationPairCorr
  0.61MSBYX Massmutual PremierPairCorr
  0.65MSDNX Massmutual PremierPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Mmodx Mutual Fund performing well and Mmodx 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 Mmodx'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
MMCBX  0.14  0.02 (0.34) 0.31  0.00 
(0.18)
 0.22 
(0.33)
 0.66 
MMELX  1.33  0.54  0.60  0.72  0.00 
(1.73)
 1.82 
(1.34)
 36.08 
MMGEX  2.03  1.20  0.89 (0.95) 0.00 
(2.63)
 2.25 
(1.61)
 59.87 
MMFFX  0.91  0.41  0.32 (0.63) 0.26 
(1.18)
 1.15 
(1.21)
 23.75 
MMIEX  0.85  0.36  0.26 (0.61) 0.33 
(1.08)
 1.15 
(1.27)
 20.60 
MMINX  0.95  0.36  0.39  0.66  0.00 
(1.22)
 1.17 
(1.23)
 25.99 
MMIZX  0.86  0.37  0.27 (0.62) 0.33 
(1.09)
 1.18 
(1.23)
 21.12 
MMJAX  0.09  0.00 (0.37) 0.00  0.00 
(0.15)
 0.21 
(0.10)
 0.63 
MMJDX  0.06  0.00 (0.66) 0.00  0.00 
(0.13)
 0.20 
(0.10)
 0.40 
MMJCX  0.09  0.03 (0.36)(1.99) 0.00 
(0.14)
 0.21 
(0.10)
 0.73 

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