Massmutual Select Correlations

Mutual Funds . USA . 
Fund . Massmutual Select T
MMDDX Fund  USD 17.64  0.07  0.40%   
The current 90-days correlation between Massmutual Select and L Abbett Growth is 0.71 (i.e., Poor diversification). The correlation of Massmutual Select 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.

Massmutual Select Correlation With Market

Very poor diversification

The correlation between Massmutual Select T and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Select T 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 Massmutual Select T. 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 unemployment.

Moving together with Massmutual Mutual Fund

  0.71MMBRX Massmutual PremierPairCorr
  0.65MMBUX Massmutual SelectPairCorr
  0.65MMBZX Massmutual SelectPairCorr
  0.65MMBYX Massmutual SelectPairCorr
  0.72MMBDX Massmutual PremierPairCorr
  1.0MMDFX Massmutual SelectPairCorr
  1.0MMDJX Massmutual SelectPairCorr
  1.0MMDHX Massmutual SelectPairCorr
  0.85MMDMX Massmutual SelectPairCorr
  1.0MMFZX Massmutual SelectPairCorr
  0.99MMGEX Massmutual Select SmallPairCorr
  0.84MMFBX Massmutual SelectPairCorr
  0.84MMFEX Massmutual SelectPairCorr
  0.84MMFJX Massmutual SelectPairCorr
  0.99MMFGX Massmutual SelectPairCorr
  1.0MMFLX Massmutual SelectPairCorr
  1.0MMFPX Massmutual SelectPairCorr
  0.81MMFVX Massmutual Select FocusedPairCorr
  1.0MMFUX Massmutual SelectPairCorr
  0.71MMIAX Massmutual PremierPairCorr
  1.0MMIEX Mm Sp 500PairCorr
  0.99MMIUX Massmutual SelectPairCorr
  1.0MMIZX Mm Sp 500PairCorr
  1.0MMLRX Massmutual SelectPairCorr
  0.82MMNGX MmngxPairCorr
  0.84MMSVX Massmutual SelectPairCorr
  1.0MMTIX Massmutual SelectPairCorr
  0.79MMVFX Massmutual Select SmallPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Massmutual Mutual Fund performing well and Massmutual Select 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 Massmutual Select'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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