Mfs High Correlations

Mutual Funds . USA . 
Fund . Mfs High Yield
HYPPX Fund  USD 8.45  0.02  0.24%   
The current 90-days correlation between Mfs High Yield and Nuveen California High is 0.31 (i.e., Weak diversification). The correlation of Mfs High 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 High Correlation With Market

Very weak diversification

The correlation between Mfs High Yield and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs High Yield and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Mfs High Yield. 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 metropolitan statistical area.

Moving together with Mfs Mutual Fund

  0.88LFTFX Mfs Lifetime 2065PairCorr
  0.87LFTJX Mfs Lifetime 2065PairCorr
  0.87LFTGX Mfs Lifetime 2065PairCorr
  0.88LFTHX Mfs Lifetime 2065 Potential GrowthPairCorr
  0.88LFTMX Mfs Lifetime 2065 Potential GrowthPairCorr
  0.88LFTNX Mfs Lifetime 2065 Potential GrowthPairCorr
  0.87LFTKX Mfs Lifetime 2065PairCorr
  0.88LFTLX Mfs Lifetime 2065PairCorr
  0.71UIVIX Mfs Intrinsic ValuePairCorr
  0.68UIVCX Mfs Intrinsic ValuePairCorr
  0.71UIVPX Mfs Intrinsic ValuePairCorr
  0.71UIVQX Mfs Intrinsic ValuePairCorr
  0.71UIVNX Mfs Intrinsic ValuePairCorr
  0.68UIVMX Mfs Intrinsic ValuePairCorr
  0.71UIVVX Mfs Intrinsic ValuePairCorr
  0.72UIVRX Mfs Intrinsic ValuePairCorr
  0.63MKVCX Mfs International LargePairCorr
  0.64MKVBX Mfs International LargePairCorr
  0.65MKVGX Mfs International LargePairCorr
  0.64MKVFX Mfs International LargePairCorr
  0.64MKVEX Mfs International LargePairCorr
  0.63MKVDX Mfs International LargePairCorr
  0.65MKVIX Mfs International LargePairCorr
  0.65MKVHX Mfs Series TrustPairCorr
  0.83BRKBX Mfs Blended ResearchPairCorr
  0.82BRKCX Mfs Blended ResearchPairCorr
  0.82BRKAX Mfs Blended ResearchPairCorr
  0.84EMLBX Mfs Emerging MarketsPairCorr
  0.86EMLAX Mfs Emerging MarketsPairCorr
  0.82BRKUX Mfs Blended ResearchPairCorr
  0.82BRKVX Mfs Blended ResearchPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs High 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 High'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.

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