Mfs Mid Correlations

OTCJX Fund

USD 30.39 0.29 0.96%

The current 90-days correlation between Mfs Mid Cap and Touchstone Large Cap is 0.34 (i.e., Weak diversification). The correlation of Mfs Mid 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 Mid Correlation With Market

Very weak diversification

The correlation between Mfs Mid Cap and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs Mid Cap and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Mfs Mid Cap. 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 inflation.

Moving together with Mfs Mutual Fund

0.69	LFTFX	Mfs Lifetime 2065	Pair Corr
0.82	LFTJX	Mfs Lifetime 2065	Pair Corr
0.69	LFTGX	Mfs Lifetime 2065	Pair Corr
0.69	LFTMX	Mfs Lifetime 2065	Pair Corr
0.69	LFTKX	Mfs Lifetime 2065	Pair Corr
0.7	UIVIX	Mfs Intrinsic Value	Pair Corr
0.87	UIVCX	Mfs Intrinsic Value	Pair Corr
0.73	UIVPX	Mfs Intrinsic Value	Pair Corr
0.87	UIVQX	Mfs Intrinsic Value	Pair Corr
0.7	UIVNX	Mfs Intrinsic Value	Pair Corr
0.69	UIVMX	Mfs Intrinsic Value	Pair Corr
0.73	UIVVX	Mfs Intrinsic Value	Pair Corr
0.73	UIVRX	Mfs Intrinsic Value	Pair Corr
0.65	OTCHX	Mfs Mid Cap	Pair Corr
0.66	OTCIX	Mfs Mid Cap	Pair Corr
0.66	OTCKX	Mfs Mid Cap	Pair Corr
0.65	OTCAX	Mfs Mid Cap	Pair Corr
0.83	OTCBX	Mfs Mid Cap	Pair Corr
0.99	OTCCX	Mfs Mid Cap	Pair Corr

Related Correlations Analysis

	TACLX	GMLVX	ENGRX	LGPSX	MTCGX	ILESX	DOXGX
TACLX		0.48	-0.37	-0.14	0.45	0.76	0.79	TACLX
GMLVX	0.48		0.14	0.52	0.19	0.42	0.67	GMLVX
ENGRX	-0.37	0.14		0.43	-0.71	-0.58	0.12	ENGRX
LGPSX	-0.14	0.52	0.43		0.04	0.17	0.23	LGPSX
MTCGX	0.45	0.19	-0.71	0.04		0.77	0.05	MTCGX
ILESX	0.76	0.42	-0.58	0.17	0.77		0.53	ILESX
DOXGX	0.79	0.67	0.12	0.23	0.05	0.53		DOXGX
	TACLX	GMLVX	ENGRX	LGPSX	MTCGX	ILESX	DOXGX

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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

DOXGX	+ 0.79	TACLX
ILESX	+ 0.77	MTCGX
ILESX	+ 0.76	TACLX
DOXGX	+ 0.67	GMLVX
DOXGX	+ 0.53	ILESX
LGPSX	+ 0.52	GMLVX

High negative correlations

MTCGX	- 0.71	ENGRX
ILESX	- 0.58	ENGRX
ENGRX	- 0.37	TACLX
LGPSX	- 0.14	TACLX

Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs Mid 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 Mid'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
TACLX	0.54	(0.03)	0.00	(0.06)	0.00	0.00	1.03	(1.14)	3.39
GMLVX	0.53	0.04	0.06	0.15	0.68	(0.58)	1.05	(1.36)	3.14
ENGRX	0.66	0.08	0.04	(2.63)	1.25	(1.00)	3.00	(0.62)	10.01
LGPSX	0.85	0.03	0.02	0.04	1.17	(0.89)	1.65	(1.88)	6.05
MTCGX	1.13	(0.13)	0.00	(0.17)	0.00	0.00	1.83	(2.57)	11.56
ILESX	0.68	(0.06)	0.00	(0.10)	0.00	0.00	1.21	(1.74)	4.31
DOXGX	0.49	0.01	0.03	0.46	0.74	(0.46)	1.16	(1.04)	3.27

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