Massmutual Select Correlations

Mutual Funds . USA . 
Fund . Massmutual Select Diversified
MMZLX Fund  USD 12.87  1.70  15.22%   
The current 90-days correlation between Massmutual Select and Massmutual Select Mid is 0.34 (i.e., Weak 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 weak diversification

The correlation between Massmutual Select Diversified and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Select Diversified 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 Diversified. 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 bureau of economic analysis.

Moving together with Massmutual Mutual Fund

  0.63MLUAX Massmutual Select MidPairCorr
  0.62MLUNX Massmutual Select MidPairCorr
  0.63MLULX Massmutual Select MidPairCorr
  0.62MLUZX Massmutual Select MidPairCorr
  0.62MLUYX Massmutual Select MidPairCorr
  0.76MMBVX Massmutual SelectPairCorr
  0.63MMBUX Massmutual SelectPairCorr
  0.76MMBZX Massmutual SelectPairCorr
  0.76MMBYX Massmutual SelectPairCorr
  0.76MMBWX Massmutual SelectPairCorr
  0.78MMARX Massmutual RetiresmartPairCorr
  0.61MMBLX Massmutual PremierPairCorr
  0.65MMELX Massmutual Select MidPairCorr
  0.78MMDFX Massmutual SelectPairCorr
  0.78MMDDX Massmutual SelectPairCorr
  0.79MMDJX Massmutual SelectPairCorr
  0.78MMDHX Massmutual SelectPairCorr
  0.78MMDGX Massmutual SelectPairCorr
  0.79MMDMX Massmutual SelectPairCorr
  0.79MMDOX Massmutual SelectPairCorr
  0.79MMFZX Massmutual SelectPairCorr
  0.79MMFWX Massmutual SelectPairCorr
  0.63MMGEX Massmutual Select SmallPairCorr
  0.77MMFBX Massmutual SelectPairCorr
  0.76MMFEX Massmutual SelectPairCorr
  0.76MMFDX Massmutual SelectPairCorr
  0.77MMFJX Massmutual SelectPairCorr
  0.77MMFHX Massmutual SelectPairCorr

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
MLUAX  0.71 (0.21) 0.00 (0.21) 0.00 
 0.00 
 1.16 
(0.93)
 13.67 
MLUFX  0.71 (0.21) 0.00 (0.81) 0.00 
 0.00 
 0.98 
(0.95)
 14.17 
MLUNX  0.71 (0.21) 0.00 (0.22) 0.00 
 0.00 
 1.11 
(0.96)
 13.91 
MLULX  0.70 (0.20) 0.00 (0.20) 0.00 
 0.00 
 1.21 
(0.90)
 13.13 
MLUSX  0.72 (0.21) 0.00 (0.80) 0.00 
 0.00 
 0.96 
(0.92)
 14.03 
MLUZX  0.72 (0.22) 0.00 (0.22) 0.00 
 0.00 
 1.17 
(0.95)
 14.48 
MLUYX  0.73 (0.22) 0.00 (0.22) 0.00 
 0.00 
 1.17 
(0.94)
 14.18 
MMBRX  0.45 (0.11) 0.00 (0.74) 0.00 
 0.00 
 0.75 
(0.82)
 7.57 
MMBVX  0.33 (0.10) 0.00 (0.15) 0.00 
 0.00 
 0.47 
(0.54)
 6.32 
MMBUX  1.00 (0.31) 0.00 (0.24) 0.00 
 0.00 
 1.35 
(1.28)
 22.88 

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