Mfs Mid Correlations

Mutual Funds . USA . 
Fund . Mfs Mid Cap
OTCIX Fund  USD 35.17  0.19  0.54%   
The current 90-days correlation between Mfs Mid Cap and Mfs International Diversification is 0.52 (i.e., Very weak 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

Very poor diversification

The correlation between Mfs Mid Cap and DJI is 0.85 (i.e., Very poor 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 Your Equity Center 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 gross domestic product.

Moving together with Mfs Mutual Fund

  0.88LFTFX Mfs Lifetime 2065PairCorr
  0.88LFTHX Mfs Lifetime 2065PairCorr
  0.88LFTNX Mfs Lifetime 2065PairCorr
  0.88LFTLX Mfs Lifetime 2065PairCorr
  0.66HYPPX Mfs High YieldPairCorr
  0.95UIVCX Mfs Intrinsic ValuePairCorr
  0.95UIVPX Mfs Intrinsic ValuePairCorr
  0.95UIVQX Mfs Intrinsic ValuePairCorr
  1.0OTCJX Mfs Mid CapPairCorr
  1.0OTCKX Mfs Mid CapPairCorr
  1.0OTCAX Mfs Mid CapPairCorr
  0.87BRSUX Mfs Blended ResearchPairCorr
  0.87BRSSX Mfs Blended ResearchPairCorr
  0.87BRSJX Mfs Blended ResearchPairCorr
  0.87BRSDX Mfs Blended ResearchPairCorr
  0.87BRSBX Mfs Blended ResearchPairCorr

Moving against Mfs Mutual Fund

  0.49EMLAX Mfs Emerging MarketsPairCorr
  0.49EMLNX Mfs Emerging MarketsPairCorr
  0.49EMLMX Mfs Emerging MarketsPairCorr
  0.36MKVGX Mfs International LargePairCorr
  0.36MKVHX Mfs Series TrustPairCorr
  0.51EMLCX Mfs Emerging MarketsPairCorr

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   
MFEKX
+ 0.99
FDTRX
OIEJX
+ 0.97
MVCKX
MFEKX
+ 0.95
MVCKX
MVCKX
+ 0.93
FDTRX
OIEJX
+ 0.93
MFEKX
OIEJX
+ 0.9
FDTRX
  
High negative correlations   
OIEJX
- 0.28
MDIZX
MFEKX
- 0.21
MDIZX
FDTRX
- 0.2
MDIZX
MVCKX
- 0.17
MDIZX

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.

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