Mfs Technology Correlations

MTCAX Fund

USD 63.04 0.15 0.24%

The current 90-days correlation between Mfs Technology and Gabelli Utility Closed is 0.2 (i.e., Modest diversification). The correlation of Mfs Technology 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.

Mfs Technology Correlation With Market

Very weak diversification

The correlation between Mfs Technology Fund and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs Technology Fund 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 Mfs Technology Fund. 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 nation.

Moving together with Mfs Mutual Fund

0.83	UIVIX	Mfs Intrinsic Value	Pair Corr
0.71	UIVCX	Mfs Intrinsic Value	Pair Corr
0.72	UIVPX	Mfs Intrinsic Value	Pair Corr
0.73	UIVQX	Mfs Intrinsic Value	Pair Corr
0.71	UIVNX	Mfs Intrinsic Value	Pair Corr
0.82	UIVMX	Mfs Intrinsic Value	Pair Corr
0.82	UIVVX	Mfs Intrinsic Value	Pair Corr
0.73	UIVRX	Mfs Intrinsic Value	Pair Corr
0.62	MKVBX	Mfs International Large	Pair Corr
0.63	MKVGX	Mfs International Large	Pair Corr
0.65	MKVFX	Mfs International Large	Pair Corr
0.61	MKVDX	Mfs International Large	Pair Corr
0.67	MKVIX	Mfs International Large	Pair Corr
0.67	MKVHX	Mfs Series Trust	Pair Corr
0.63	BRKBX	Mfs Blended Research	Pair Corr
0.67	BRKCX	Mfs Blended Research	Pair Corr
0.65	BRKAX	Mfs Blended Research	Pair Corr
0.72	BRKUX	Mfs Blended Research	Pair Corr
0.67	BRKVX	Mfs Blended Research	Pair Corr

Moving against Mfs Mutual Fund

0.59	OTCHX	Mfs Mid Cap	Pair Corr
0.57	OTCGX	Mfs Mid Cap	Pair Corr
0.54	OTCAX	Mfs Mid Cap	Pair Corr
0.53	OTCIX	Mfs Mid Cap	Pair Corr
0.52	OTCKX	Mfs Mid Cap	Pair Corr
0.51	OTCJX	Mfs Mid Cap	Pair Corr
0.57	OTCBX	Mfs Mid Cap	Pair Corr
0.57	OTCCX	Mfs Mid Cap	Pair Corr
0.39	EMLMX	Mfs Emerging Markets	Pair Corr
0.36	EMLBX	Mfs Emerging Markets	Pair Corr
0.36	EMLNX	Mfs Emerging Markets	Pair Corr
0.35	EMLAX	Mfs Emerging Markets	Pair Corr

Related Correlations Analysis

	GUT	DGAGX	HISGX	ACFOX	ARTRX	PPIPX	TPPAX	BIOPX	BIOIX	SPFZX
GUT		-0.24	0.4	0.55	-0.01	-0.06	-0.08	0.43	0.43	0.08	GUT
DGAGX	-0.24		0.13	-0.51	0.03	0.84	0.85	-0.28	-0.28	0.68	DGAGX
HISGX	0.4	0.13		0.65	0.39	0.38	0.37	0.76	0.77	0.51	HISGX
ACFOX	0.55	-0.51	0.65		0.29	-0.2	-0.22	0.9	0.9	-0.08	ACFOX
ARTRX	-0.01	0.03	0.39	0.29		0.04	0.06	0.51	0.51	0.4	ARTRX
PPIPX	-0.06	0.84	0.38	-0.2	0.04		1.0	-0.03	-0.03	0.61	PPIPX
TPPAX	-0.08	0.85	0.37	-0.22	0.06	1.0		-0.04	-0.03	0.63	TPPAX
BIOPX	0.43	-0.28	0.76	0.9	0.51	-0.03	-0.04		1.0	0.18	BIOPX
BIOIX	0.43	-0.28	0.77	0.9	0.51	-0.03	-0.03	1.0		0.18	BIOIX
SPFZX	0.08	0.68	0.51	-0.08	0.4	0.61	0.63	0.18	0.18		SPFZX
	GUT	DGAGX	HISGX	ACFOX	ARTRX	PPIPX	TPPAX	BIOPX	BIOIX	SPFZX

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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

TPPAX	+ 1.0	PPIPX
BIOIX	+ 1.0	BIOPX
BIOPX	+ 0.9	ACFOX
BIOIX	+ 0.9	ACFOX
TPPAX	+ 0.85	DGAGX
PPIPX	+ 0.84	DGAGX

High negative correlations

ACFOX	- 0.51	DGAGX
BIOIX	- 0.28	DGAGX
BIOPX	- 0.28	DGAGX
DGAGX	- 0.24	GUT
TPPAX	- 0.22	ACFOX
PPIPX	- 0.2	ACFOX

Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs Technology 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 Mfs Technology'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
GUT	0.73	0.02	(0.03)	0.15	0.99	(0.80)	1.55	(1.35)	5.76
DGAGX	0.84	(0.29)	0.00	(0.17)	0.00	0.00	1.12	(1.26)	17.34
HISGX	0.96	(0.04)	(0.02)	0.04	1.28	(0.97)	2.05	(2.14)	5.18
ACFOX	1.05	0.15	0.10	0.21	1.25	(1.04)	2.25	(2.36)	11.33
ARTRX	0.72	(0.03)	(0.03)	0.04	0.93	(0.78)	1.31	(1.63)	6.16
PPIPX	0.33	(0.08)	0.00	(0.09)	0.00	0.00	0.52	(0.52)	6.08
TPPAX	0.47	(0.11)	0.00	(0.09)	0.00	0.00	0.73	(0.81)	8.22
BIOPX	0.92	0.02	0.02	0.09	1.30	(0.82)	2.09	(2.17)	6.84
BIOIX	0.91	0.02	0.02	0.09	1.27	(0.83)	2.09	(2.17)	6.84
SPFZX	0.86	(0.10)	0.00	(0.02)	0.00	0.00	1.78	(2.09)	7.93

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