Massmutual Select Correlations

MMIUX Fund

USD 10.55 0.94 8.18%

The current 90-days correlation between Massmutual Select and Pender Real Estate is -0.07 (i.e., Good 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

Modest diversification

The correlation between Massmutual Select T and DJI is 0.24 (i.e., Modest 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 employment.

Moving together with Massmutual Mutual Fund

0.67

MMBEX

Massmutual Select

Pair Corr

Moving against Massmutual Mutual Fund

0.61	MMBUX	Massmutual Select	Pair Corr
0.57	MLUFX	Massmutual Select Mid	Pair Corr
0.57	MLUSX	Massmutual Select Mid	Pair Corr
0.57	MLUYX	Massmutual Select Mid	Pair Corr
0.38	MMBRX	Massmutual Premier	Pair Corr
0.43	MMGEX	Massmutual Select Small	Pair Corr
0.34	MMDMX	Massmutual Select	Pair Corr
0.34	MMDKX	Massmutual Select	Pair Corr

Related Correlations Analysis

	PNDIX	CREMX	NRSCX	NREEX	PHRAX	FIKMX	DAREX
PNDIX		1.0	-0.82	-0.55	0.03	-0.66	-0.35	PNDIX
CREMX	1.0		-0.83	-0.54	0.03	-0.67	-0.35	CREMX
NRSCX	-0.82	-0.83		0.53	0.07	0.71	0.58	NRSCX
NREEX	-0.55	-0.54	0.53		0.77	0.69	0.76	NREEX
PHRAX	0.03	0.03	0.07	0.77		0.42	0.62	PHRAX
FIKMX	-0.66	-0.67	0.71	0.69	0.42		0.66	FIKMX
DAREX	-0.35	-0.35	0.58	0.76	0.62	0.66		DAREX
	PNDIX	CREMX	NRSCX	NREEX	PHRAX	FIKMX	DAREX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

CREMX	+ 1.0	PNDIX
PHRAX	+ 0.77	NREEX
DAREX	+ 0.76	NREEX
FIKMX	+ 0.71	NRSCX
FIKMX	+ 0.69	NREEX
DAREX	+ 0.66	FIKMX

High negative correlations

NRSCX	- 0.83	CREMX
NRSCX	- 0.82	PNDIX
FIKMX	- 0.67	CREMX
FIKMX	- 0.66	PNDIX
NREEX	- 0.55	PNDIX
NREEX	- 0.54	CREMX

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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
PNDIX	0.05	0.01	(1.65)	0.10	0.00	0.70
CREMX	0.03	0.01	(0.68)	0.08	0.00	0.72
NRSCX	0.25	(0.04)	(1.46)	0.43	(0.36)	3.21
NREEX	0.70	(0.07)	(0.94)	1.27	(1.48)	3.76
PHRAX	0.65	(0.05)	(0.20)	1.22	(1.70)	3.44
FIKMX	0.20	(0.03)	(0.19)	0.49	(0.41)	1.22
DAREX	0.65	(0.05)	(0.03)	1.28	(1.36)	3.54

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC