Massmutual Select Correlations

MMFTX Fund  USD 17.06  0.16  0.95%   
The current 90-days correlation between Massmutual Select and Arrow Managed Futures is 0.2 (i.e., Modest diversification). The correlation of Massmutual Select 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.

Massmutual Select Correlation With Market

Good diversification

The correlation between Massmutual Select T and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Select T 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 Massmutual Select T. 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 estimate.

Moving together with MassMutual Mutual Fund

  0.61MLUAX Massmutual Select MidPairCorr
  0.62MLUFX Massmutual Select MidPairCorr
  0.61MLUNX Massmutual Select MidPairCorr
  0.62MLULX Massmutual Select MidPairCorr
  0.87MLUSX Massmutual Select MidPairCorr
  0.61MLUZX Massmutual Select MidPairCorr
  0.62MLUYX Massmutual Select MidPairCorr
  0.64MMBVX Massmutual SelectPairCorr
  0.64MMBZX Massmutual SelectPairCorr
  0.64MMBYX Massmutual SelectPairCorr
  0.62MMBWX Massmutual SelectPairCorr
  0.99MMARX Massmutual RetiresmartPairCorr
  0.84MMBDX Massmutual PremierPairCorr
  0.85MMBLX Massmutual PremierPairCorr
  0.83MMELX Massmutual Select MidPairCorr
  0.99MMDFX Massmutual SelectPairCorr
  0.99MMDDX Massmutual SelectPairCorr
  1.0MMDJX Massmutual SelectPairCorr
  0.99MMDHX Massmutual SelectPairCorr
  0.94MMDGX Massmutual SelectPairCorr
  1.0MMDMX Massmutual SelectPairCorr
  1.0MMDKX Massmutual SelectPairCorr
  1.0MMDOX Massmutual SelectPairCorr
  1.0MMFZX Massmutual SelectPairCorr
  0.84MMFYX Massmutual Select FocusedPairCorr
  1.0MMFWX Massmutual SelectPairCorr
  0.87MMGEX Massmutual Select SmallPairCorr
  0.62MMFBX Massmutual SelectPairCorr
  0.83MMFFX Mm Sp 500PairCorr
  0.65MMFEX Massmutual SelectPairCorr
  0.63MMFDX Massmutual SelectPairCorr
  0.66MMFJX Massmutual SelectPairCorr
  0.64MMFHX Massmutual SelectPairCorr
  0.64MMFGX Massmutual SelectPairCorr
  0.68MMFLX Massmutual SelectPairCorr
  0.67MMFKX Massmutual SelectPairCorr

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   
FZNOPXFLKYPX
WMCANXFXYBJX
WMCANXWRLDX
FXYBJXFZNOPX
FXYBJXFLKYPX
OPTCXWRLDX
  
High negative correlations   
FSULTXMFTFX
FSULTXFLKYPX
FSULTXOPTCX
FSULTXFZNOPX

Risk-Adjusted Indicators

There is a big difference between MassMutual Mutual Fund performing well and Massmutual Select 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 Massmutual Select'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.