Massmutual Select Correlations

Mutual Funds . USA . 
Fund . Massmutual Select Small
MSCYX Fund  USD 13.54  0.02  0.15%   
The current 90-days correlation between Massmutual Select Small and Massmutual Premier E is -0.13 (i.e., Good 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

Modest diversification

The correlation between Massmutual Select Small and DJI is 0.24 (i.e., Modest 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 producer price index.

Moving together with Massmutual Mutual Fund

  1.0MMELX Massmutual Select MidPairCorr
  0.97MMGEX Massmutual Select SmallPairCorr
  0.96MMFFX Mm Sp 500PairCorr
  1.0MMIEX Mm Sp 500PairCorr
  1.0MMINX Mm Sp 500PairCorr
  1.0MMIZX Mm Sp 500PairCorr
  0.61MMJAX Massmutual RetiresmartPairCorr
  0.72MMJDX Massmutual AdvantagePairCorr
  0.67MMNBX MmnbxPairCorr
  0.72MMZQX Massmutual ClintonPairCorr
  0.98DLBMX Massmutual Premier SmallPairCorr
  0.81DLHYX Massmutual Premier HighPairCorr
  0.96MOORX Massmutual Premier SmallPairCorr
  0.99MOSNX Massmutual SelectPairCorr
  0.99MOSLX Massmutual SelectPairCorr
  0.87MOSSX Massmutual SelectPairCorr
  0.99MOSZX Massmutual SelectPairCorr
  0.99MOSYX Massmutual SelectPairCorr
  0.99MOSAX Massmutual SelectPairCorr
  0.99MOSFX Massmutual SelectPairCorr
  0.82MPHAX Massmutual Premier HighPairCorr
  0.82MPHLX Massmutual Premier HighPairCorr
  0.82MPHNX Massmutual Prem HighPairCorr
  0.79MPHSX Massmutual Premier HighPairCorr
  0.81MPHRX Massmutual Premier HighPairCorr
  0.79MPHZX Massmutual Premier HighPairCorr
  0.76MPSDX Massmutual PremierPairCorr
  0.75BXDLX Massmutual Short-durationPairCorr
  0.76MSBYX Massmutual PremierPairCorr
  0.69MSDNX Massmutual PremierPairCorr
  0.96MSCDX Massmutual Premier SmallPairCorr
  0.96MSCLX Massmutual Premier SmallPairCorr

Moving against Massmutual Mutual Fund

  0.97MMZMX MmzmxPairCorr
  0.94MMOJX MmojxPairCorr
  0.91MMNGX MmngxPairCorr
  0.87MMODX MmodxPairCorr
  0.81MMNJX MmnjxPairCorr
  0.96MSGNX Massmutual Select SmallPairCorr
  0.79MPSAX Massmutual PremierPairCorr

Related Correlations Analysis


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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MMCBX  0.15 (0.01)(0.38)(0.03) 0.16 
(0.16)
 0.22 
(0.33)
 0.77 
MMELX  1.29  0.51  0.51  0.71  0.00 
(1.69)
 1.79 
(1.27)
 34.91 
MMGEX  2.04  1.10  0.69 (1.09) 0.40 
(2.92)
 2.25 
(2.07)
 59.50 
MMFFX  0.94  0.40  0.29 (1.26) 0.37 
(1.10)
 1.52 
(1.15)
 22.79 
MMIEX  0.88  0.27  0.23  0.43  0.46 
(1.10)
 1.49 
(1.20)
 19.69 
MMINX  0.98  0.35  0.33  0.57  0.27 
(1.21)
 1.50 
(1.23)
 25.03 
MMIZX  0.88  0.28  0.25  0.45  0.41 
(1.11)
 1.51 
(1.18)
 20.19 
MMJAX  0.09  0.02 (0.38)(3.30) 0.00 
(0.15)
 0.21 
(0.10)
 0.63 
MMJDX  0.05  0.01 (0.72)(4.34) 0.00 
(0.12)
 0.10 
(0.10)
 0.30 
MMNBX  0.59  0.00 (0.02) 0.08  0.64 
(0.73)
 1.12 
(1.22)
 3.54 

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