Mfs Technology Correlations

MTCLX Fund

USD 80.10 0.84 1.04%

The current 90-days correlation between Mfs Technology and John Hancock Financial is 0.3 (i.e., Weak diversification). The correlation of Mfs Technology 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.

Mfs Technology Correlation With Market

Poor diversification

The correlation between Mfs Technology Fund and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs Technology Fund 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 Mfs Technology Fund. 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 against MFS Mutual Fund

0.77	VVPR	VivoPower International Tech Boost	Pair Corr
0.31	VEEA	Veea Inc Symbol Change	Pair Corr
0.41	ITI	Iteris Inc	Pair Corr
0.32	GVP	GSE Systems	Pair Corr

Related Correlations Analysis

	BTO	ICFAX	FIKBX	PFSQX	FGB	RPFGX	FYSXX
BTO		0.91	0.83	0.96	0.74	0.81	0.0	BTO
ICFAX	0.91		0.78	0.9	0.76	0.78	0.0	ICFAX
FIKBX	0.83	0.78		0.78	0.48	1.0	0.0	FIKBX
PFSQX	0.96	0.9	0.78		0.79	0.76	0.0	PFSQX
FGB	0.74	0.76	0.48	0.79		0.46	0.0	FGB
RPFGX	0.81	0.78	1.0	0.76	0.46		0.0	RPFGX
FYSXX	0.0	0.0	0.0	0.0	0.0	0.0		FYSXX
	BTO	ICFAX	FIKBX	PFSQX	FGB	RPFGX	FYSXX

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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

RPFGX	+ 1.0	FIKBX
PFSQX	+ 0.96	BTO
ICFAX	+ 0.91	BTO
PFSQX	+ 0.9	ICFAX
FIKBX	+ 0.83	BTO
RPFGX	+ 0.81	BTO

High negative correlations

FYSXX	- 0.0	RPFGX
FYSXX	- 0.0	FGB
FYSXX	- 0.0	PFSQX
FYSXX	- 0.0	FIKBX
FYSXX	- 0.0	ICFAX
FYSXX	- 0.0	BTO

Risk-Adjusted Indicators

There is a big difference between MFS Mutual Fund performing well and Mfs Technology 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 Mfs Technology'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BTO	0.91	0.13	0.17	0.21	0.71	(1.01)	1.88	(1.32)	9.88
ICFAX	0.72	(0.02)	0.00	0.10	0.74	(0.89)	1.43	(1.21)	5.10
FIKBX	0.86	0.08	0.16	0.17	0.53	(1.07)	1.88	(1.15)	9.76
PFSQX	0.80	0.23	0.13	(2.54)	0.52	(0.99)	1.58	(1.42)	8.34
FGB	0.70	0.14	0.06	0.65	0.70	(0.89)	1.59	(1.25)	9.47
RPFGX	0.82	0.04	0.09	0.15	0.56	(1.04)	1.85	(1.40)	7.59
FYSXX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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