Mfs Emerging Correlations

EMLKX Fund

USD 5.98 0.01 0.17%

The current 90-days correlation between Mfs Emerging Markets and Muzinich High Yield is 0.51 (i.e., Very weak diversification). The correlation of Mfs Emerging 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 Emerging Correlation With Market

Modest diversification

The correlation between Mfs Emerging Markets and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs Emerging Markets and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Mfs Emerging Markets. 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 board of governors.

Moving together with Mfs Mutual Fund

0.71	HYPPX	Mfs High Yield	Pair Corr
0.8	MKVCX	Mfs International Large	Pair Corr
0.78	MKVBX	Mfs International Large	Pair Corr
0.82	MKVGX	Mfs International Large	Pair Corr
0.78	MKVEX	Mfs International Large	Pair Corr
0.77	MKVDX	Mfs International Large	Pair Corr
0.78	MKVIX	Mfs International Large	Pair Corr
0.78	MKVHX	Mfs Series Trust	Pair Corr
0.73	BRKBX	Mfs Blended Research	Pair Corr
0.76	BRKCX	Mfs Blended Research	Pair Corr
0.94	EMLBX	Mfs Emerging Markets	Pair Corr
0.95	EMLAX	Mfs Emerging Markets	Pair Corr
0.76	BRKVX	Mfs Blended Research	Pair Corr
0.76	BRKSX	Mfs Blended Research	Pair Corr
0.74	BRKTX	Mfs Blended Research	Pair Corr
0.95	EMLNX	Mfs Emerging Markets	Pair Corr
0.78	DIFIX	Mfs Diversified Income	Pair Corr
0.94	EMLJX	Mfs Emerging Markets	Pair Corr
0.95	EMLIX	Mfs Emerging Markets	Pair Corr

Moving against Mfs Mutual Fund

0.53	OTCIX	Mfs Mid Cap	Pair Corr
0.54	OTCBX	Mfs Mid Cap	Pair Corr
0.54	OTCCX	Mfs Mid Cap	Pair Corr
0.53	OTCKX	Mfs Mid Cap	Pair Corr
0.53	OTCAX	Mfs Mid Cap	Pair Corr

Related Correlations Analysis

	MZHIX	GHVIX	TIYRX	AHYMX	IPIMX	JYHRX	RTHAX
MZHIX		0.9	0.78	0.77	0.8	0.82	0.78	MZHIX
GHVIX	0.9		0.9	0.72	0.9	0.88	0.78	GHVIX
TIYRX	0.78	0.9		0.72	0.95	0.84	0.74	TIYRX
AHYMX	0.77	0.72	0.72		0.71	0.77	0.88	AHYMX
IPIMX	0.8	0.9	0.95	0.71		0.85	0.76	IPIMX
JYHRX	0.82	0.88	0.84	0.77	0.85		0.88	JYHRX
RTHAX	0.78	0.78	0.74	0.88	0.76	0.88		RTHAX
	MZHIX	GHVIX	TIYRX	AHYMX	IPIMX	JYHRX	RTHAX

Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs Emerging 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 Emerging'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
MZHIX	0.12	0.00	(0.20)	0.04	0.06	(0.17)	0.25	(0.25)	0.75
GHVIX	0.13	0.02	(0.16)	0.46	0.00	(0.17)	0.28	(0.22)	0.78
TIYRX	0.15	0.02	(0.11)	2.35	0.00	(0.21)	0.34	(0.34)	1.02
AHYMX	0.13	0.03	(0.12)	1.98	0.00	(0.20)	0.34	(0.11)	0.79
IPIMX	0.13	0.01	(0.15)	0.59	0.00	(0.21)	0.45	(0.23)	0.80
JYHRX	0.11	0.01	(0.17)	(0.70)	0.00	(0.17)	0.15	(0.15)	0.76
RTHAX	0.12	0.06	0.08	2.60	0.00	(0.21)	0.52	(0.10)	0.96

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