Massmutual Select Correlations

MSPHX Fund

USD 8.47 0.03 0.36%

The current 90-days correlation between Massmutual Select Total and Oil Gas Ultrasector is -0.06 (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

Good diversification

The correlation between Massmutual Select Total and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Select Total 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 Total. 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 rate.

Moving together with Massmutual Mutual Fund

0.99	MMCBX	Massmutual Premier	Pair Corr
0.66	MMGFX	Massmutual Select Growth	Pair Corr
0.99	MMNWX	Mmnwx	Pair Corr
0.63	MOSZX	Massmutual Select	Pair Corr
0.89	MRCLX	Massmutual Retiresmart	Pair Corr
0.88	MRCSX	Massmutual Retiresmart	Pair Corr
0.89	MRCZX	Massmutual Retiresmart	Pair Corr

Moving against Massmutual Mutual Fund

0.74	MMFFX	Mm Sp 500	Pair Corr
0.66	MMQYX	Massmutual Select Small	Pair Corr
0.66	MMQFX	Massmutual Select Small	Pair Corr
0.65	MMGEX	Massmutual Select Small	Pair Corr
0.65	MMNJX	Mmnjx	Pair Corr
0.64	MMELX	Massmutual Select Mid	Pair Corr
0.63	MMVFX	Massmutual Select Small	Pair Corr
0.61	MMVYX	Massmutual Select Small	Pair Corr
0.6	MLUAX	Massmutual Select Mid	Pair Corr
0.6	MLULX	Massmutual Select Mid	Pair Corr
0.6	MLUSX	Massmutual Select Mid	Pair Corr
0.6	MLUZX	Massmutual Select Mid	Pair Corr
0.6	DLBMX	Massmutual Premier Small	Pair Corr
0.6	MOORX	Massmutual Premier Small	Pair Corr
0.55	MMDMX	Massmutual Select	Pair Corr
0.5	MMFQX	Massmutual Select	Pair Corr
0.47	MMKUX	Massmutual Retiresmart	Pair Corr
0.46	MMBLX	Massmutual Premier	Pair Corr
0.46	MMKZX	Massmutual Retiresmart	Pair Corr
0.44	MMBRX	Massmutual Premier	Pair Corr
0.77	MPDGX	Massmutual Premier	Pair Corr
0.77	MPDRX	Massmutual Premier	Pair Corr
0.74	MPIVX	Massmutual Premier	Pair Corr
0.74	MPINX	Massmutual Premier	Pair Corr
0.74	MPILX	Massmutual Premier	Pair Corr
0.65	MSGSX	Massmutual Select Small	Pair Corr
0.65	MSGZX	Massmutual Select Small	Pair Corr
0.6	MSCDX	Massmutual Premier Small	Pair Corr
0.6	MSCLX	Massmutual Premier Small	Pair Corr

Related Correlations Analysis

	ENPSX	DLDCX	ALEFX	RYVIX	IVEIX	PNRCX	GMOWX
ENPSX		0.79	0.85	0.73	-0.25	0.61	0.12	ENPSX
DLDCX	0.79		0.7	0.76	0.24	0.94	0.4	DLDCX
ALEFX	0.85	0.7		0.55	-0.37	0.49	-0.25	ALEFX
RYVIX	0.73	0.76	0.55		0.1	0.65	0.36	RYVIX
IVEIX	-0.25	0.24	-0.37	0.1		0.46	0.67	IVEIX
PNRCX	0.61	0.94	0.49	0.65	0.46		0.56	PNRCX
GMOWX	0.12	0.4	-0.25	0.36	0.67	0.56		GMOWX
	ENPSX	DLDCX	ALEFX	RYVIX	IVEIX	PNRCX	GMOWX

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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

PNRCX	+ 0.94	DLDCX
ALEFX	+ 0.85	ENPSX
DLDCX	+ 0.79	ENPSX
RYVIX	+ 0.76	DLDCX
RYVIX	+ 0.73	ENPSX
ALEFX	+ 0.7	DLDCX

High negative correlations

IVEIX	- 0.37	ALEFX
GMOWX	- 0.25	ALEFX
IVEIX	- 0.25	ENPSX

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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ENPSX	1.37	0.12	(0.01)	(2.90)	1.89	(1.35)	2.58	(3.15)	8.91
DLDCX	0.90	(0.04)	(0.04)	0.08	1.28	(0.90)	1.58	(2.05)	4.99
ALEFX	0.63	0.24	0.23	0.77	0.19	(0.83)	1.37	(0.77)	4.42
RYVIX	1.39	(0.15)	(0.05)	0.02	1.72	(1.48)	2.63	(3.08)	10.74
IVEIX	0.70	(0.03)	(0.12)	0.00	1.01	(0.71)	1.25	(1.80)	4.95
PNRCX	0.88	(0.07)	(0.07)	0.04	1.41	(0.80)	2.06	(2.27)	5.47
GMOWX	1.07	(0.08)	0.00	34.83	0.00	0.00	1.80	(2.79)	5.49

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