Massmutual Select Correlations

Mutual Funds . USA . 
Fund . Massmutual Select Small
MMQFX Fund  USD 9.20  0.02  0.22%   
The current 90-days correlation between Massmutual Select Small and Locorr Dynamic Equity is 0.84 (i.e., Very poor 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

Very poor diversification

The correlation between Massmutual Select Small and DJI is 0.87 (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 census.

Moving together with Massmutual Mutual Fund

  0.98MLUAX Massmutual Select MidPairCorr
  0.98MLUFX Massmutual Select MidPairCorr
  0.98MLUNX Massmutual Select MidPairCorr
  0.98MLULX Massmutual Select MidPairCorr
  0.98MLUSX Massmutual Select MidPairCorr
  0.98MLUZX Massmutual Select MidPairCorr
  0.98MLUYX Massmutual Select MidPairCorr
  0.85MMBRX Massmutual PremierPairCorr
  0.7MMBVX Massmutual SelectPairCorr
  0.99MMBUX Massmutual SelectPairCorr
  0.67MMBZX Massmutual SelectPairCorr
  0.69MMBYX Massmutual SelectPairCorr
  0.7MMBWX Massmutual SelectPairCorr
  0.8MMARX Massmutual RetiresmartPairCorr
  0.85MMBDX Massmutual PremierPairCorr
  0.86MMBLX Massmutual PremierPairCorr
  0.97MMELX Massmutual Select MidPairCorr
  0.88MMDFX Massmutual SelectPairCorr
  0.88MMDDX Massmutual SelectPairCorr
  0.88MMDJX Massmutual SelectPairCorr
  0.87MMDHX Massmutual SelectPairCorr
  0.88MMDGX Massmutual SelectPairCorr
  0.87MMDMX Massmutual SelectPairCorr
  0.88MMDKX Massmutual SelectPairCorr
  0.87MMDOX Massmutual SelectPairCorr
  0.87MMFZX Massmutual SelectPairCorr
  0.87MMFWX Massmutual SelectPairCorr
  0.99MMGEX Massmutual Select SmallPairCorr
  0.72MMFBX Massmutual SelectPairCorr
  0.93MMFFX Mm Sp 500PairCorr
  0.71MMFEX Massmutual SelectPairCorr
  0.71MMFDX Massmutual SelectPairCorr

Moving against Massmutual Mutual Fund

  0.59MMCBX Massmutual PremierPairCorr
  0.57MMAAX Massmutual Select GrowthPairCorr
  0.57MMANX Massmutual Select GrowthPairCorr
  0.56MMBEX Massmutual SelectPairCorr
  0.55MMAZX Massmutual Select GrowthPairCorr
  0.57MMGFX Massmutual Select GrowthPairCorr

Related Correlations Analysis

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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.

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