MFS Active Correlations

MFSB Etf

25.25 0.05 0.20%

The current 90-days correlation between MFS Active Core and First Trust Exchange Traded is 0.76 (i.e., Poor diversification). The correlation of MFS Active 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.

MFS Active Correlation With Market

Modest diversification

The correlation between MFS Active Core and DJI is 0.25 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MFS Active Core and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MFS Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in MFS Active Core. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with MFS Etf

0.99	IUSB	iShares Core Total	Pair Corr
0.88	FIXD	First Trust TCW	Pair Corr
0.98	FBND	Fidelity Total Bond	Pair Corr
0.96	TOTL	SPDR DoubleLine Total	Pair Corr
0.98	HTRB	Hartford Total Return	Pair Corr
0.99	GTO	Invesco Total Return	Pair Corr
0.97	EUSB	iShares Trust	Pair Corr
0.98	JCPB	JPMorgan Core Plus	Pair Corr
0.99	BND	Vanguard Total Bond	Pair Corr
0.7	FIAX	Nicholas Fixed Income	Pair Corr
0.61	NBFC	Neuberger Berman ETF	Pair Corr
0.81	IBTI	iShares iBonds Dec	Pair Corr
0.62	MEDI	Harbor Health Care	Pair Corr
0.88	IBDU	iShares Trust	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.64	0.66	-0.71	0.69	-0.72	0.23	-0.06	-0.67	-0.65	META
MSFT	0.64		0.83	-0.44	0.25	-0.32	0.26	-0.18	-0.73	-0.59	MSFT
UBER	0.66	0.83		-0.59	0.48	-0.59	0.18	0.09	-0.82	-0.6	UBER
F	-0.71	-0.44	-0.59		-0.73	0.73	0.19	0.24	0.71	0.76	F
T	0.69	0.25	0.48	-0.73		-0.8	-0.31	0.04	-0.55	-0.47	T
A	-0.72	-0.32	-0.59	0.73	-0.8		-0.05	-0.2	0.72	0.41	A
CRM	0.23	0.26	0.18	0.19	-0.31	-0.05		0.18	-0.16	0.03	CRM
JPM	-0.06	-0.18	0.09	0.24	0.04	-0.2	0.18		0.03	0.24	JPM
MRK	-0.67	-0.73	-0.82	0.71	-0.55	0.72	-0.16	0.03		0.63	MRK
XOM	-0.65	-0.59	-0.6	0.76	-0.47	0.41	0.03	0.24	0.63		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.83	MSFT
XOM	+ 0.76	F
A	+ 0.73	F
MRK	+ 0.72	A
MRK	+ 0.71	F
T	+ 0.69	META

High negative correlations

MRK	- 0.82	UBER
A	- 0.8	T
T	- 0.73	F
MRK	- 0.73	MSFT
A	- 0.72	META
F	- 0.71	META

MFS Active Competition Risk-Adjusted Indicators

There is a big difference between MFS Etf performing well and MFS Active ETF 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 Active'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
META	1.38	(0.29)	0.00	(0.23)	0.00	0.00	2.26	(2.72)	13.52
MSFT	0.95	(0.16)	0.00	(0.16)	0.00	0.00	1.85	(2.50)	5.08
UBER	1.61	(0.30)	0.00	(0.22)	0.00	0.00	3.34	(4.99)	10.91
F	1.47	0.16	0.10	0.18	1.67	(1.66)	3.38	(2.35)	16.30
T	0.95	(0.31)	0.00	(0.95)	0.00	0.00	1.61	(2.18)	5.75
A	1.27	0.13	0.09	0.19	1.25	(1.40)	2.34	(2.21)	11.03
CRM	1.59	0.00	0.00	0.08	2.04	(1.60)	3.66	(2.92)	9.91
JPM	0.98	(0.02)	0.00	0.06	1.44	(0.93)	2.00	(1.91)	7.02
MRK	1.38	0.27	0.19	0.42	1.09	(1.78)	4.85	(2.06)	11.45
XOM	0.93	0.07	0.01	0.52	0.92	(0.99)	1.96	(1.41)	4.63

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