Massmutual Select Correlations

Mutual Funds . USA . 
Fund . Massmutual Select T
MMFZX Fund  USD 18.86  0.01  0.05%   
The current 90-days correlation between Massmutual Select and Massmutual Select Mid is 0.77 (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

Very poor diversification

The correlation between Massmutual Select T and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Select T 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 T. 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 together with Massmutual Mutual Fund

  0.87MLUAX Massmutual Select MidPairCorr
  0.81MLUFX Massmutual Select MidPairCorr
  0.81MLUNX Massmutual Select MidPairCorr
  0.87MLULX Massmutual Select MidPairCorr
  0.81MLUSX Massmutual Select MidPairCorr
  0.87MLUZX Massmutual Select MidPairCorr
  0.87MLUYX Massmutual Select MidPairCorr
  0.89MMBRX Massmutual PremierPairCorr
  0.85MMBVX Massmutual SelectPairCorr
  0.84MMBUX Massmutual SelectPairCorr
  0.83MMBZX Massmutual SelectPairCorr
  0.84MMBYX Massmutual SelectPairCorr
  0.85MMBWX Massmutual SelectPairCorr
  0.9MMARX Massmutual RetiresmartPairCorr
  0.95MMBDX Massmutual PremierPairCorr
  0.95MMBLX Massmutual PremierPairCorr
  0.92MMELX Massmutual Select MidPairCorr
  1.0MMDFX Massmutual SelectPairCorr
  1.0MMDDX Massmutual SelectPairCorr
  1.0MMDJX Massmutual SelectPairCorr
  1.0MMDHX Massmutual SelectPairCorr
  1.0MMDGX Massmutual SelectPairCorr
  1.0MMDMX Massmutual SelectPairCorr
  1.0MMDKX Massmutual SelectPairCorr
  1.0MMDOX Massmutual SelectPairCorr
  0.66MMFYX Massmutual Select FocusedPairCorr
  1.0MMFWX Massmutual SelectPairCorr
  0.92MMGEX Massmutual Select SmallPairCorr
  0.86MMFBX Massmutual SelectPairCorr
  0.94MMFFX Mm Sp 500PairCorr
  0.85MMFEX Massmutual SelectPairCorr
  0.85MMFDX Massmutual SelectPairCorr

Moving against Massmutual Mutual Fund

  0.7MMAAX Massmutual Select GrowthPairCorr
  0.7MMANX Massmutual Select GrowthPairCorr
  0.45MMCBX Massmutual PremierPairCorr
  0.69MMAZX Massmutual Select GrowthPairCorr
  0.39MMBEX Massmutual SelectPairCorr
  0.7MMGFX Massmutual Select GrowthPairCorr

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  0.54 (0.02)(0.07) 0.08  0.48 
(0.65)
 1.10 
(0.85)
 3.27 
MLUFX  0.54  0.08 (0.03) 1.33  0.46 
(0.64)
 1.10 
(0.86)
 3.18 
MLUNX  0.54  0.08 (0.04) 1.30  0.45 
(0.63)
 1.05 
(0.87)
 3.27 
MLULX  0.53 (0.01)(0.06) 0.09  0.46 
(0.63)
 1.08 
(0.83)
 3.19 
MLUSX  0.54  0.08 (0.03) 1.21  0.46 
(0.64)
 1.10 
(0.92)
 3.25 
MLUZX  0.54 (0.01)(0.06) 0.09  0.46 
(0.64)
 1.12 
(0.93)
 3.23 
MLUYX  0.54 (0.01)(0.06) 0.09  0.48 
(0.63)
 1.11 
(0.85)
 3.21 
MMBRX  0.35  0.05 (0.10) 0.86  0.35 
(0.40)
 0.77 
(0.76)
 2.00 
MMBVX  0.25  0.00 (0.20) 0.00  0.27 
(0.27)
 0.48 
(0.55)
 1.36 
MMBUX  0.63  0.12  0.04  1.13  0.61 
(0.72)
 1.45 
(1.28)
 4.78 

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