MFS Active Correlations

MFSB Etf

24.90 0.08 0.32%

The current 90-days correlation between MFS Active Core and First Trust Exchange Traded is 0.82 (i.e., Very poor diversification). The correlation of MFS Active 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.

MFS Active Correlation With Market

Modest diversification

The correlation between MFS Active Core and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MFS Active Core 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 Active Core. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with MFS Etf

0.99	BND	Vanguard Total Bond	Pair Corr
0.85	VEA	Vanguard FTSE Developed	Pair Corr
0.85	AIVI	WisdomTree International	Pair Corr
0.64	SOCL	Global X Social	Pair Corr
0.95	GENT	Spinnaker ETF Series	Pair Corr
0.66	WTRE	WisdomTree New Economy	Pair Corr
0.99	IUSB	iShares Core Total	Pair Corr
0.82	NTSE	WisdomTree Emerging	Pair Corr
0.63	BOIL	ProShares Ultra Bloomberg Buyout Trend	Pair Corr
0.81	IXJ	iShares Global Healthcare	Pair Corr
0.88	FIVA	Fidelity International	Pair Corr
0.77	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.87	GHTA	Collaborative Investment	Pair Corr
0.95	HCRB	Hartford Core Bond	Pair Corr
0.77	CGUI	Capital Group Fixed	Pair Corr
0.83	TCHI	iShares MSCI China	Pair Corr
0.83	HAUZ	Xtrackers International	Pair Corr
0.62	MNA	IQ Merger Arbitrage	Pair Corr
0.9	MOTI	VanEck Morningstar Low Volatility	Pair Corr
0.78	DEM	WisdomTree Emerging	Pair Corr
0.94	AVSF	American Century ETF	Pair Corr
0.67	FLDB	Fidelity Low Duration	Pair Corr
0.84	SCHO	Schwab Short Term	Pair Corr
0.79	LBAY	Tidal ETF Trust	Pair Corr
0.65	VHT	Vanguard Health Care	Pair Corr

Moving against MFS Etf

0.5	VUG	Vanguard Growth Index	Pair Corr
0.48	VB	Vanguard Small Cap	Pair Corr
0.35	VTI	Vanguard Total Stock	Pair Corr
0.31	SPY	SPDR SP 500	Pair Corr
0.31	IVV	iShares Core SP	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.14	0.66	-0.48	0.43	0.36	0.16	0.89	-0.77	0.14	META
MSFT	-0.14		-0.64	0.31	-0.77	0.65	0.89	0.0	0.49	-0.33	MSFT
UBER	0.66	-0.64		-0.48	0.8	-0.23	-0.55	0.58	-0.86	0.46	UBER
F	-0.48	0.31	-0.48		-0.2	0.12	0.15	-0.38	0.62	0.23	F
T	0.43	-0.77	0.8	-0.2		-0.54	-0.68	0.25	-0.68	0.48	T
A	0.36	0.65	-0.23	0.12	-0.54		0.75	0.58	0.12	-0.11	A
CRM	0.16	0.89	-0.55	0.15	-0.68	0.75		0.24	0.3	-0.38	CRM
JPM	0.89	0.0	0.58	-0.38	0.25	0.58	0.24		-0.65	0.16	JPM
MRK	-0.77	0.49	-0.86	0.62	-0.68	0.12	0.3	-0.65		-0.31	MRK
XOM	0.14	-0.33	0.46	0.23	0.48	-0.11	-0.38	0.16	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.89	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.75	A
UBER	+ 0.66	META
A	+ 0.65	MSFT

High negative correlations

MRK	- 0.86	UBER
T	- 0.77	MSFT
MRK	- 0.77	META
MRK	- 0.68	T
CRM	- 0.68	T
MRK	- 0.65	JPM

MFS Active Competition Risk-Adjusted Indicators

There is a big difference between MFS Etf performing well and MFS Active ETF 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 Active'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
META	1.61	0.01	0.00	(0.08)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.11	(0.15)	0.00	(0.32)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.94	0.22	0.10	0.31	2.41	(2.00)	4.72	(3.30)	12.75
F	1.44	0.07	0.00	(0.03)	0.00	0.00	2.71	(2.89)	10.14
T	1.05	0.26	0.17	0.38	1.59	(1.13)	1.90	(1.75)	11.66
A	1.13	(0.12)	0.00	(0.22)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.42	(0.23)	0.00	(0.30)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.09	0.06	0.00	(0.04)	0.00	0.00	1.99	(3.35)	6.85
MRK	1.17	(0.07)	0.00	1.31	0.00	0.00	2.07	(1.80)	11.58
XOM	1.05	0.07	0.09	0.06	1.38	(1.09)	2.55	(2.36)	5.89

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