Massmutual Select Correlations

MMGFX Fund

USD 2.58 0.00 0.00%

The current 90-days correlation between Massmutual Select Growth and Fidelity Capital Income is 0.06 (i.e., Significant 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

Good diversification

The correlation between Massmutual Select Growth and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Select Growth and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios. 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 census.

Moving together with Massmutual Mutual Fund

1.0	MMAAX	Massmutual Select Growth	Pair Corr
0.68	MMCBX	Massmutual Premier	Pair Corr
1.0	MMANX	Massmutual Select Growth	Pair Corr
1.0	MMAZX	Massmutual Select Growth	Pair Corr
0.65	MMBEX	Massmutual Select	Pair Corr

Moving against Massmutual Mutual Fund

0.74	MMARX	Massmutual Retiresmart	Pair Corr
0.62	MMBRX	Massmutual Premier	Pair Corr
0.58	MMBUX	Massmutual Select	Pair Corr
0.56	MLUAX	Massmutual Select Mid	Pair Corr
0.56	MLULX	Massmutual Select Mid	Pair Corr
0.56	MLUZX	Massmutual Select Mid	Pair Corr
0.56	MLUYX	Massmutual Select Mid	Pair Corr
0.54	MLUFX	Massmutual Select Mid	Pair Corr
0.54	MLUNX	Massmutual Select Mid	Pair Corr
0.54	MLUSX	Massmutual Select Mid	Pair Corr
0.54	MMBVX	Massmutual Select	Pair Corr
0.54	MMBWX	Massmutual Select	Pair Corr
0.53	MMBYX	Massmutual Select	Pair Corr
0.51	MMBZX	Massmutual Select	Pair Corr
0.72	MMDJX	Massmutual Select	Pair Corr
0.71	MMDFX	Massmutual Select	Pair Corr
0.71	MMDDX	Massmutual Select	Pair Corr
0.71	MMDHX	Massmutual Select	Pair Corr
0.71	MMDGX	Massmutual Select	Pair Corr
0.71	MMDMX	Massmutual Select	Pair Corr
0.71	MMDKX	Massmutual Select	Pair Corr
0.71	MMDOX	Massmutual Select	Pair Corr
0.7	MMFZX	Massmutual Select	Pair Corr
0.7	MMFWX	Massmutual Select	Pair Corr
0.62	MMELX	Massmutual Select Mid	Pair Corr
0.61	MMBDX	Massmutual Premier	Pair Corr
0.61	MMBLX	Massmutual Premier	Pair Corr
0.74	MMFFX	Mm Sp 500	Pair Corr
0.71	MMFUX	Massmutual Select	Pair Corr
0.7	MMFOX	Massmutual Select	Pair Corr
0.69	MMFRX	Massmutual Select	Pair Corr
0.69	MMFQX	Massmutual Select	Pair Corr
0.69	MMFPX	Massmutual Select	Pair Corr

Related Correlations Analysis

	FAGIX	GMOZX	PHDTX	PHYEX	SIHSX	BHYRX	PAHIX	AHYMX
FAGIX		0.76	0.95	0.68	0.72	0.8	0.69	0.67	FAGIX
GMOZX	0.76		0.91	0.8	0.86	0.86	0.81	0.64	GMOZX
PHDTX	0.95	0.91		0.8	0.84	0.87	0.8	0.7	PHDTX
PHYEX	0.68	0.8	0.8		0.95	0.9	0.87	0.69	PHYEX
SIHSX	0.72	0.86	0.84	0.95		0.96	0.92	0.77	SIHSX
BHYRX	0.8	0.86	0.87	0.9	0.96		0.91	0.79	BHYRX
PAHIX	0.69	0.81	0.8	0.87	0.92	0.91		0.7	PAHIX
AHYMX	0.67	0.64	0.7	0.69	0.77	0.79	0.7		AHYMX
	FAGIX	GMOZX	PHDTX	PHYEX	SIHSX	BHYRX	PAHIX	AHYMX

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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 Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FAGIX	0.19	0.06	(0.14)	2.41	(0.26)	0.40	(0.29)	1.17
GMOZX	0.13	0.01	(0.40)	0.19	(0.17)	0.28	(0.33)	0.72
PHDTX	0.09	0.02	(0.51)	0.41	(0.15)	0.23	(0.11)	0.56
PHYEX	0.13	0.03	(0.34)	(0.54)	(0.26)	0.41	(0.21)	1.05
SIHSX	0.11	0.02	(0.69)	(1.19)	(0.17)	0.30	(0.20)	0.70
BHYRX	0.12	0.02	(0.44)	(1.79)	(0.21)	0.28	(0.28)	0.85
PAHIX	0.12	0.01	(0.51)	(0.48)	(0.24)	0.34	(0.17)	1.02
AHYMX	0.10	0.02	(0.27)	1.09	(0.17)	0.33	(0.22)	1.09

Massmutual Select Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Massmutual Select mutual fund to make a market-neutral strategy. Peer analysis of Massmutual Select could also be used in its relative valuation, which is a method of valuing Massmutual Select by comparing valuation metrics with similar companies.

Fidelity Capital Income Gmo High Yield Pace High Yield Pgim High Yield Guggenheim High Yield Blackrock High Yield T Rowe Price Alpine High Yield American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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