MIDJX Fund | | | USD 32.19 0.09 0.28% |
The current 90-days correlation between Mfs International New and Artisan Small Cap is 0.05 (i.e., Significant diversification). The correlation of Mfs International 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 International Correlation With Market
Significant diversification
The correlation between Mfs International New and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs International New and DJI in the same portfolio, assuming nothing else is changed.
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Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mfs International New. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.