Correlation Between Massmutual Select and General Money
Can any of the company-specific risk be diversified away by investing in both Massmutual Select and General Money at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Massmutual Select and General Money into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Massmutual Select T and General Money Market, you can compare the effects of market volatilities on Massmutual Select and General Money and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Massmutual Select with a short position of General Money. Check out your portfolio center. Please also check ongoing floating volatility patterns of Massmutual Select and General Money.
Diversification Opportunities for Massmutual Select and General Money
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Massmutual and General is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Select T and General Money Market in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on General Money Market and Massmutual Select is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Massmutual Select T are associated (or correlated) with General Money. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of General Money Market has no effect on the direction of Massmutual Select i.e., Massmutual Select and General Money go up and down completely randomly.
Pair Corralation between Massmutual Select and General Money
If you would invest 99.00 in General Money Market on September 12, 2024 and sell it today you would earn a total of 1.00 from holding General Money Market or generate 1.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.56% |
| Values | Daily Returns |
Massmutual Select T vs. General Money Market
Performance |
| Timeline |
| Massmutual Select |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
| General Money Market |
Massmutual Select and General Money Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Massmutual Select and General Money
The main advantage of trading using opposite Massmutual Select and General Money positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Massmutual Select position performs unexpectedly, General Money can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in General Money will offset losses from the drop in General Money's long position.| Massmutual Select vs. Virtus Nfj Large Cap | Massmutual Select vs. Dodge Cox Stock | Massmutual Select vs. American Mutual Fund | Massmutual Select vs. Dunham Large Cap |
| General Money vs. T Rowe Price | General Money vs. Multisector Bond Sma | General Money vs. Ambrus Core Bond | General Money vs. Blrc Sgy Mnp |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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