Massmutual Select Correlations

Mutual Funds . USA . 
Fund . Massmutual Select Small
MSGLX Fund  USD 11.50  0.14  1.23%   
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

Poor diversification

The correlation between Massmutual Select Small and DJI is 0.76 (i.e., 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 metropolitan statistical area.

Moving together with Massmutual Mutual Fund

  0.74VSGAX Vanguard Small CapPairCorr
  0.74VSGIX Vanguard Small CapPairCorr
  0.74VISGX Vanguard Small CapPairCorr
  0.69VEXPX Vanguard ExplorerPairCorr
  0.69VEXRX Vanguard ExplorerPairCorr
  0.7JGMIX Janus TritonPairCorr
  0.7JGMRX Janus TritonPairCorr
  0.73JGMAX Janus TritonPairCorr
  0.7JGMCX Janus TritonPairCorr
  0.7JGMNX Janus TritonPairCorr
  0.78SMPIX Semiconductor UltrasectorPairCorr
  0.79SMPSX Semiconductor UltrasectorPairCorr
  0.66PMPIX Precious Metals UltrPairCorr
  0.66PMPSX Precious Metals UltrPairCorr
  0.7FGADX Franklin Gold PreciousPairCorr
  0.7FGPMX Franklin Gold AndPairCorr
  0.68OCMGX Ocm Mutual FundPairCorr
  0.66INIYX International InvestorsPairCorr
  0.61FKRCX Franklin Gold PreciousPairCorr
  0.69OCMAX Ocm Mutual FundPairCorr
  0.77AA Alcoa CorpPairCorr
  0.84BA BoeingPairCorr
  0.69DIS Walt DisneyPairCorr

Moving against Massmutual Mutual Fund

  0.55T ATT Inc Earnings Call This WeekPairCorr

Related Correlations Analysis


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

USGCX
+ 1.0
MSGVX
SMAAX
+ 0.75
CFSTX
USGCX
+ 0.36
CFSTX
MSGVX
+ 0.34
CFSTX
USGCX
+ 0.09
SMAAX
MSGVX
+ 0.08
SMAAX
  

High negative correlations

TIMXX
- 0.0
BBSXX
TIMXX
- 0.0
USGCX
BBSXX
- 0.0
USGCX
TIMXX
- 0.0
MSGVX
BBSXX
- 0.0
MSGVX
TIMXX
- 0.0
SMAAX

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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