Massmutual Select Correlations

Mutual Funds . USA . 
Fund . Massmutual Select Overseas
MOSYX Fund  USD 8.24  0.02  0.24%   
The current 90-days correlation between Massmutual Select and Massmutual Select Mid is 0.72 (i.e., Poor 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

Significant diversification

The correlation between Massmutual Select Overseas and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Select Overseas 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 Overseas. 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 manufacturing.

Moving together with Massmutual Mutual Fund

  0.62MMBRX Massmutual PremierPairCorr
  0.68MMCBX Massmutual PremierPairCorr
  0.66MMANX Massmutual Select GrowthPairCorr
  0.85MMBEX Massmutual SelectPairCorr
  0.78MMFYX Massmutual Select FocusedPairCorr
  0.66MMGFX Massmutual Select GrowthPairCorr
  0.61MMFFX Mm Sp 500PairCorr

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  0.72 (0.18) 0.00 (0.64) 0.00 
 0.00 
 1.16 
(0.93)
 13.67 
MLUFX  0.72 (0.19) 0.00 (0.55) 0.00 
 0.00 
 1.10 
(0.95)
 14.17 
MLUNX  0.72 (0.18) 0.00 (0.65) 0.00 
 0.00 
 1.11 
(0.96)
 13.91 
MLULX  0.70 (0.17) 0.00 (0.61) 0.00 
 0.00 
 1.21 
(0.90)
 13.13 
MLUSX  0.73 (0.19) 0.00 (0.54) 0.00 
 0.00 
 1.23 
(0.92)
 14.03 
MLUZX  0.73 (0.19) 0.00 (0.66) 0.00 
 0.00 
 1.17 
(0.95)
 14.48 
MLUYX  0.73 (0.19) 0.00 (0.68) 0.00 
 0.00 
 1.17 
(0.94)
 14.18 
MMBRX  0.46 (0.10) 0.00 (0.74) 0.00 
 0.00 
 0.75 
(0.82)
 7.57 
MMBVX  0.33 (0.07) 0.00  1.90  0.00 
 0.00 
 0.48 
(0.54)
 6.32 
MMBUX  1.00 (0.29) 0.00 (0.51) 0.00 
 0.00 
 1.35 
(1.28)
 22.88 

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