Mfs California Correlations

Mutual Funds . USA . 
Fund . Mfs California Municipal
MBCAX Fund  USD 5.55  0.00  0.00%   
The current 90-days correlation between Mfs California Municipal and Ab Global Risk is 0.2 (i.e., Modest diversification). The correlation of Mfs California 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 California Correlation With Market

Significant diversification

The correlation between Mfs California Municipal and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs California Municipal 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 California Municipal. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Mfs Mutual Fund

  1.0FCAVX Franklin California TaxPairCorr
  1.0FKTQX Franklin California TaxPairCorr
  1.0FRCTX Franklin California TaxPairCorr
  1.0FKTFX Franklin California TaxPairCorr
  1.0FTFQX Franklin California TaxPairCorr
  1.0VCITX Vanguard CaliforniaPairCorr
  1.0VCLAX Vanguard CaliforniaPairCorr
  0.97MKCMX Blackrock CaliforniaPairCorr
  1.0TECCX Tax Exempt FundPairCorr
  1.0TAFTX Tax Exempt FundPairCorr
  0.78VSTSX Vanguard Total StockPairCorr
  0.78VSMPX Vanguard Total StockPairCorr
  0.79VITSX Vanguard Total StockPairCorr
  0.8VFFSX Vanguard 500 IndexPairCorr
  0.81VFIAX Vanguard 500 IndexPairCorr
  0.84VTISX Vanguard Total InterPairCorr
  0.84VTSNX Vanguard Total InterPairCorr
  0.85VTPSX Vanguard Total InterPairCorr
  0.81VINIX Vanguard InstitutionalPairCorr
  0.78VTSAX Vanguard Total StockPairCorr
  0.8GPICX Guidepath ConservativePairCorr
  0.8CAT CaterpillarPairCorr
  0.67JNJ Johnson JohnsonPairCorr
  0.76INTC Intel Aggressive PushPairCorr
  0.77IBM International BusinessPairCorr
  0.71GE GE AerospacePairCorr

Moving against Mfs Mutual Fund

  0.74T ATT IncPairCorr
  0.68PG Procter GamblePairCorr
  0.64DIS Walt DisneyPairCorr
  0.58HD Home DepotPairCorr
  0.53CVX Chevron Corp Sell-off TrendPairCorr
  0.48MCD McDonaldsPairCorr
  0.43HPQ HP Inc Earnings Call TomorrowPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

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