Mfs New Correlations

Mutual Funds . USA . 
Fund . Mfs New Discovery
MNDAX Fund  USD 26.16  0.26  0.98%   
The current 90-days correlation between Mfs New Discovery and Mfs Mid Cap is 0.71 (i.e., Poor diversification). The correlation of Mfs New 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.

Mfs New Correlation With Market

Very weak diversification

The correlation between Mfs New Discovery and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs New Discovery 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 Mfs New Discovery. 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 nation.

Moving together with Mfs Mutual Fund

  0.8LFTFX Mfs Lifetime 2065PairCorr
  0.79LFTJX Mfs Lifetime 2065PairCorr
  0.79LFTGX Mfs Lifetime 2065PairCorr
  0.8LFTHX Mfs Lifetime 2065PairCorr
  0.89LFTMX Mfs Lifetime 2065PairCorr
  0.89LFTNX Mfs Lifetime 2065PairCorr
  0.79LFTKX Mfs Lifetime 2065PairCorr
  0.88LFTLX Mfs Lifetime 2065PairCorr
  0.92UIVIX Mfs Intrinsic ValuePairCorr
  0.91UIVCX Mfs Intrinsic ValuePairCorr
  0.92UIVPX Mfs Intrinsic ValuePairCorr
  0.92UIVQX Mfs Intrinsic ValuePairCorr
  0.92UIVNX Mfs Intrinsic ValuePairCorr
  0.91UIVMX Mfs Intrinsic ValuePairCorr
  0.83UIVVX Mfs Intrinsic ValuePairCorr
  0.92UIVRX Mfs Intrinsic ValuePairCorr
  0.82OTCHX Mfs Mid CapPairCorr
  0.84OTCIX Mfs Mid CapPairCorr
  0.83OTCJX Mfs Mid CapPairCorr
  0.84OTCKX Mfs Mid CapPairCorr
  0.74OTCGX Mfs Mid CapPairCorr
  0.82OTCAX Mfs Mid CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs New 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 Mfs New'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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