Mfs Mid Correlations

MVCKX Fund

USD 28.54 0.37 1.31%

The current 90-days correlation between Mfs Mid Cap and Mfs Mid Cap is 0.89 (i.e., Very poor diversification). The correlation of Mfs Mid 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 Mid Correlation With Market

Almost no diversification

The correlation between Mfs Mid Cap and DJI is 0.96 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs Mid Cap 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 Mid Cap. 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 industry.

Moving together with Mfs Mutual Fund

0.86	LFTFX	Mfs Lifetime 2065	Pair Corr
0.86	LFTJX	Mfs Lifetime 2065	Pair Corr
0.86	LFTGX	Mfs Lifetime 2065	Pair Corr
0.85	LFTHX	Mfs Lifetime 2065	Pair Corr
0.85	LFTMX	Mfs Lifetime 2065	Pair Corr
0.85	LFTNX	Mfs Lifetime 2065	Pair Corr
0.86	LFTKX	Mfs Lifetime 2065	Pair Corr
0.94	LFTLX	Mfs Lifetime 2065	Pair Corr
0.98	UIVIX	Mfs Intrinsic Value	Pair Corr
0.98	UIVCX	Mfs Intrinsic Value	Pair Corr
0.98	UIVPX	Mfs Intrinsic Value	Pair Corr
0.98	UIVQX	Mfs Intrinsic Value	Pair Corr
0.98	UIVNX	Mfs Intrinsic Value	Pair Corr
0.98	UIVMX	Mfs Intrinsic Value	Pair Corr
0.98	UIVRX	Mfs Intrinsic Value	Pair Corr
0.94	OTCIX	Mfs Mid Cap	Pair Corr
0.94	OTCJX	Mfs Mid Cap	Pair Corr
0.94	OTCKX	Mfs Mid Cap	Pair Corr
0.94	OTCGX	Mfs Mid Cap	Pair Corr
0.94	OTCAX	Mfs Mid Cap	Pair Corr
0.94	OTCBX	Mfs Mid Cap	Pair Corr
0.94	OTCCX	Mfs Mid Cap	Pair Corr

Moving against Mfs Mutual Fund

0.49	FPPJX	Mfs Prudent Investor	Pair Corr
0.49	FPPQX	Mfs Prudent Investor	Pair Corr
0.49	FPPRX	Mfs Prudent Investor	Pair Corr
0.49	FPPSX	Mfs Prudent Investor	Pair Corr
0.49	FPPUX	Mfs Prudent Investor	Pair Corr
0.49	FPPVX	Mfs Prudent Investor	Pair Corr
0.5	EMLAX	Mfs Emerging Markets	Pair Corr
0.49	EMLBX	Mfs Emerging Markets	Pair Corr

Related Correlations Analysis

	OTCKX	MEIKX	MEFZX	MFEKX	JDVWX
OTCKX		0.65	0.91	0.99	0.95	OTCKX
MEIKX	0.65		0.72	0.64	0.84	MEIKX
MEFZX	0.91	0.72		0.89	0.92	MEFZX
MFEKX	0.99	0.64	0.89		0.95	MFEKX
JDVWX	0.95	0.84	0.92	0.95		JDVWX
	OTCKX	MEIKX	MEFZX	MFEKX	JDVWX

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Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs Mid 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 Mid'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
OTCKX	1.41	(0.05)	(0.12)	1.97	(3.20)	11.98
MEIKX	0.90	0.03	(0.05)	1.39	(1.99)	8.78
MEFZX	1.23	(0.12)	(0.19)	1.86	(3.05)	13.00
MFEKX	1.45	(0.09)	(0.15)	2.20	(3.67)	14.49
JDVWX	0.99	(0.02)	(0.10)	1.42	(2.21)	10.25

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