Massmutual Premier Correlations

MSTDX Fund

USD 9.25 0.01 0.11%

The correlation of Massmutual Premier 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 Premier Correlation With Market

Good diversification

The correlation between Massmutual Premier Short Durat and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Premier Short Durat 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 Premier Short Duration. 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 unemployment.

Moving together with Massmutual Mutual Fund

0.67	MMBRX	Massmutual Premier	Pair Corr
0.71	MMBVX	Massmutual Select	Pair Corr
0.69	MMBZX	Massmutual Select	Pair Corr
0.7	MMBYX	Massmutual Select	Pair Corr
0.71	MMBWX	Massmutual Select	Pair Corr
0.7	MMARX	Massmutual Retiresmart	Pair Corr
0.66	MMBDX	Massmutual Premier	Pair Corr
0.67	MMBLX	Massmutual Premier	Pair Corr
0.65	MMDFX	Massmutual Select	Pair Corr
0.65	MMDDX	Massmutual Select	Pair Corr
0.65	MMDJX	Massmutual Select	Pair Corr
0.63	MMDHX	Massmutual Select	Pair Corr
0.65	MMDGX	Massmutual Select	Pair Corr
0.65	MMDMX	Massmutual Select	Pair Corr
0.65	MMDKX	Massmutual Select	Pair Corr
0.65	MMDOX	Massmutual Select	Pair Corr
0.65	MMFZX	Massmutual Select	Pair Corr
0.65	MMFWX	Massmutual Select	Pair Corr
0.71	MMFBX	Massmutual Select	Pair Corr
0.64	MMFFX	Mm Sp 500	Pair Corr
0.7	MMFEX	Massmutual Select	Pair Corr
0.71	MMFDX	Massmutual Select	Pair Corr

Moving against Massmutual Mutual Fund

0.74	MMAAX	Massmutual Select Growth	Pair Corr
0.74	MMANX	Massmutual Select Growth	Pair Corr
0.75	MMAZX	Massmutual Select Growth	Pair Corr
0.74	MMGFX	Massmutual Select Growth	Pair Corr

Related Correlations Analysis

	RGFIX	GCFSX	FNPIX	SBFAX	ICFAX	DVFYX
RGFIX		0.0	0.0	0.0	0.0	0.0	RGFIX
GCFSX	0.0		0.9	0.91	0.74	0.93	GCFSX
FNPIX	0.0	0.9		1.0	0.66	0.99	FNPIX
SBFAX	0.0	0.91	1.0		0.66	0.99	SBFAX
ICFAX	0.0	0.74	0.66	0.66		0.67	ICFAX
DVFYX	0.0	0.93	0.99	0.99	0.67		DVFYX
	RGFIX	GCFSX	FNPIX	SBFAX	ICFAX	DVFYX

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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

SBFAX	+ 1.0	FNPIX
DVFYX	+ 0.99	FNPIX
DVFYX	+ 0.99	SBFAX
DVFYX	+ 0.93	GCFSX
SBFAX	+ 0.91	GCFSX
FNPIX	+ 0.9	GCFSX

High negative correlations

DVFYX	- 0.0	RGFIX
ICFAX	- 0.0	RGFIX
SBFAX	- 0.0	RGFIX
FNPIX	- 0.0	RGFIX
GCFSX	- 0.0	RGFIX

Risk-Adjusted Indicators

There is a big difference between Massmutual Mutual Fund performing well and Massmutual Premier 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 Premier'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
RGFIX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
GCFSX	0.68	0.01	0.00	0.13	0.65	(0.86)	1.52	(1.51)	6.07
FNPIX	1.08	0.32	0.14	(1.72)	0.87	(1.16)	2.09	(1.83)	11.72
SBFAX	0.80	0.24	0.13	(2.60)	0.51	(0.95)	1.72	(1.44)	8.60
ICFAX	0.93	(0.22)	0.00	(0.10)	0.00	0.00	1.43	(1.23)	5.10
DVFYX	0.80	0.23	0.10	(1.60)	0.52	(0.98)	1.85	(1.39)	7.57

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