Mfs Utilities Correlations

MMUIX Fund

USD 25.03 0.04 0.16%

The current 90-days correlation between Mfs Utilities and Aquila Three Peaks is 0.08 (i.e., Significant diversification). The correlation of Mfs Utilities 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 Utilities Correlation With Market

Average diversification

The correlation between Mfs Utilities Fund and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs Utilities 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 Utilities 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 gross domestic product.

Moving together with Mfs Mutual Fund

0.65	D	Dominion Energy	Pair Corr
0.8	SO	Southern	Pair Corr
0.65	CMS-PB	Consumers Energy	Pair Corr
0.61	CMS-PC	CMS Energy	Pair Corr
0.79	BEP	Brookfield Renewable	Pair Corr
0.69	BIP	Brookfield Infrastructure	Pair Corr
0.75	CEG	Constellation Energy Corp Downward Rally	Pair Corr
0.9	CMS	CMS Energy	Pair Corr

Moving against Mfs Mutual Fund

0.43

Hawaiian Electric

Pair Corr

Related Correlations Analysis

	ATPCX	NEAIX	QLMABX	CABIX	LBETX	ARCNX
ATPCX		0.12	0.01	0.63	-0.08	0.33	ATPCX
NEAIX	0.12		0.79	0.57	0.73	0.49	NEAIX
QLMABX	0.01	0.79		0.37	0.99	0.67	QLMABX
CABIX	0.63	0.57	0.37		0.26	0.57	CABIX
LBETX	-0.08	0.73	0.99	0.26		0.61	LBETX
ARCNX	0.33	0.49	0.67	0.57	0.61		ARCNX
	ATPCX	NEAIX	QLMABX	CABIX	LBETX	ARCNX

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

LBETX	+ 0.99	QLMABX
QLMABX	+ 0.79	NEAIX
LBETX	+ 0.73	NEAIX
ARCNX	+ 0.67	QLMABX
CABIX	+ 0.63	ATPCX
ARCNX	+ 0.61	LBETX

High negative correlations

LBETX

- 0.08

ATPCX

Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs Utilities 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 Utilities' 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
ATPCX	0.10	(0.01)	(0.71)	(0.25)	0.11	(0.16)	0.24	(0.24)	0.73
NEAIX	1.07	(0.12)	(0.05)	0.03	1.32	(1.13)	2.19	(2.27)	6.71
QLMABX	0.48	(0.01)	(0.06)	0.10	0.58	(0.50)	0.95	(1.07)	3.04
CABIX	0.31	(0.03)	(0.24)	0.03	0.37	(0.34)	0.57	(0.72)	1.86
LBETX	0.22	(0.01)	(0.22)	0.10	0.23	(0.26)	0.45	(0.52)	1.42
ARCNX	0.65	0.04	(0.08)	(1.16)	0.89	(0.62)	1.51	(1.37)	3.74

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC