Massmutual Select Correlations

Mutual Funds . USA . 
Fund . Massmutual Select Small
MMYAX Fund  USD 9.44  0.05  0.53%   
The current 90-days correlation between Massmutual Select Small and Massmutual Select Mid Cap is 0.12 (i.e., Average 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

Very poor diversification

The correlation between Massmutual Select Small and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Select Small 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 Small. 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 nation.

Moving together with MASSMUTUAL Mutual Fund

  0.98MLUAX Massmutual Select MidPairCorr
  0.93MLUFX Massmutual Select MidPairCorr
  0.93MLUNX Massmutual Select MidPairCorr
  0.98MLULX Massmutual Select MidPairCorr
  0.93MLUSX Massmutual Select MidPairCorr
  0.98MLUZX Massmutual Select MidPairCorr
  0.98MLUYX Massmutual Select MidPairCorr
  0.78MMBRX Massmutual PremierPairCorr
  0.64MMBVX Massmutual SelectPairCorr
  0.94MMBUX Massmutual SelectPairCorr
  0.61MMBZX Massmutual SelectPairCorr
  0.62MMBYX Massmutual SelectPairCorr
  0.64MMBWX Massmutual SelectPairCorr
  0.71MMARX Massmutual RetiresmartPairCorr
  0.84MMBDX Massmutual PremierPairCorr
  0.84MMBLX Massmutual PremierPairCorr
  0.96MMELX Massmutual Select MidPairCorr
  0.85MMDFX Massmutual SelectPairCorr
  0.85MMDDX Massmutual SelectPairCorr
  0.85MMDJX Massmutual SelectPairCorr
  0.85MMDHX Massmutual SelectPairCorr
  0.85MMDGX Massmutual SelectPairCorr
  0.85MMDMX Massmutual SelectPairCorr
  0.85MMDKX Massmutual SelectPairCorr
  0.84MMDOX Massmutual SelectPairCorr
  0.84MMFZX Massmutual SelectPairCorr
  0.85MMFWX Massmutual SelectPairCorr
  0.97MMGEX Massmutual Select SmallPairCorr
  0.65MMFBX Massmutual SelectPairCorr
  0.9MMFFX Mm Sp 500PairCorr
  0.64MMFEX Massmutual SelectPairCorr
  0.64MMFDX Massmutual SelectPairCorr

Moving against MASSMUTUAL Mutual Fund

  0.53MMCBX Massmutual PremierPairCorr
  0.52MMAAX Massmutual Select GrowthPairCorr
  0.52MMANX Massmutual Select GrowthPairCorr
  0.51MMAZX Massmutual Select GrowthPairCorr
  0.49MMBEX Massmutual SelectPairCorr
  0.52MMGFX Massmutual Select GrowthPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MLUFX  0.54  0.08 (0.03) 1.33  0.46 
(0.64)
 1.10 
(0.86)
 3.18 
MLUNX  0.54  0.08 (0.04) 1.30  0.45 
(0.63)
 1.05 
(0.87)
 3.27 
MLULX  0.53 (0.01)(0.06) 0.09  0.46 
(0.63)
 1.08 
(0.83)
 3.19 
MLUSX  0.54  0.08 (0.03) 1.21  0.46 
(0.64)
 1.10 
(0.92)
 3.25 
MLUZX  0.54 (0.01)(0.06) 0.09  0.46 
(0.64)
 1.12 
(0.93)
 3.23 
MLUYX  0.54 (0.01)(0.06) 0.09  0.48 
(0.63)
 1.11 
(0.85)
 3.21 
MMBRX  0.35  0.05 (0.10) 0.86  0.35 
(0.40)
 0.77 
(0.76)
 2.00 
MMBVX  0.25  0.00 (0.20) 0.00  0.27 
(0.27)
 0.48 
(0.55)
 1.36 
MMBUX  0.63  0.12  0.04  1.13  0.61 
(0.72)
 1.45 
(1.28)
 4.78 
MMBZX  0.24  0.02 (0.22) 1.96  0.26 
(0.26)
 0.48 
(0.54)
 1.35 

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