Massmutual Select Correlations

Mutual Funds . USA . 
Fund . Massmutual Select Total
MSPNX Fund  USD 8.44  0.03  0.36%   
The current 90-days correlation between Massmutual Select Total and Auer Growth Fund is -0.04 (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 board of governors.

Moving together with Massmutual Mutual Fund

  0.99MMCBX Massmutual PremierPairCorr
  0.65MMGFX Massmutual Select GrowthPairCorr
  0.99MMNWX MmnwxPairCorr
  0.64MOSZX Massmutual SelectPairCorr
  0.89MRCLX Massmutual RetiresmartPairCorr
  0.88MRCSX Massmutual RetiresmartPairCorr
  0.89MRCZX Massmutual RetiresmartPairCorr

Moving against Massmutual Mutual Fund

  0.75MMFFX Mm Sp 500PairCorr
  0.67MMQYX Massmutual Select SmallPairCorr
  0.67MMQFX Massmutual Select SmallPairCorr
  0.66MMGEX Massmutual Select SmallPairCorr
  0.66MMNJX MmnjxPairCorr
  0.65MMELX Massmutual Select MidPairCorr
  0.64MMVFX Massmutual Select SmallPairCorr
  0.63MMVYX Massmutual Select SmallPairCorr
  0.61MLUAX Massmutual Select MidPairCorr
  0.61MLULX Massmutual Select MidPairCorr
  0.61MLUSX Massmutual Select MidPairCorr
  0.61MLUZX Massmutual Select MidPairCorr
  0.61DLBMX Massmutual Premier SmallPairCorr
  0.61MOORX Massmutual Premier SmallPairCorr
  0.55MMDMX Massmutual SelectPairCorr
  0.51MMFQX Massmutual SelectPairCorr
  0.47MMKUX Massmutual RetiresmartPairCorr
  0.46MMBLX Massmutual PremierPairCorr
  0.45MMKZX Massmutual RetiresmartPairCorr
  0.44MMBRX Massmutual PremierPairCorr
  0.77MPDGX Massmutual PremierPairCorr
  0.77MPDRX Massmutual PremierPairCorr
  0.75MPIVX Massmutual PremierPairCorr
  0.75MPILX Massmutual PremierPairCorr
  0.74MPINX Massmutual PremierPairCorr
  0.66MSGSX Massmutual Select SmallPairCorr
  0.66MSGZX Massmutual Select SmallPairCorr
  0.62MSCDX Massmutual Premier SmallPairCorr
  0.62MSOOX Massmutual Premier SmallPairCorr

Related Correlations Analysis

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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   
TGVVX
+ 0.93
PRNHX
TGVVX
+ 0.93
ABVCX
ABVCX
+ 0.92
PRNHX
BOSVX
+ 0.9
ABVCX
BOSVX
+ 0.88
PRNHX
TGVVX
+ 0.82
BOSVX
  
High negative correlations   
REVAX
- 0.14
BOSVX
REVAX
- 0.1
PRNHX

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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