Massmutual Select Correlations

Mutual Funds . USA . 
Fund . Massmutual Select Blue
MBCZX Fund  USD 23.86  0.13  0.55%   
The current 90-days correlation between Massmutual Select Blue and Massmutual Select Mid is 0.48 (i.e., Very 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

Poor diversification

The correlation between Massmutual Select Blue 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 Massmutual Select Blue 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 Blue. 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 against Massmutual Mutual Fund

  0.66MMANX Massmutual Select GrowthPairCorr
  0.39MMBEX Massmutual SelectPairCorr
  0.32MMCBX Massmutual PremierPairCorr
  0.66MMGFX Massmutual Select GrowthPairCorr
  0.81MMIAX Massmutual PremierPairCorr
  0.31MMFVX Massmutual Select FocusedPairCorr

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  0.72 (0.21) 0.00 (0.22) 0.00 
 0.00 
 1.10 
(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  0.73 (0.21) 0.00 (0.22) 0.00 
 0.00 
 1.23 
(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 (0.12) 0.00 (0.18) 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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