Massmutual Select Correlations

MMYLX Fund  USD 9.01  0.03  0.33%   
The current 90-days correlation between Massmutual Select Small and Massmutual Premier Balanced is 0.74 (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

Poor diversification

The correlation between Massmutual Select Small and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Select Small 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 Small. 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 bureau of economic analysis.

Moving together with Massmutual Mutual Fund

  0.96MMBRX Massmutual PremierPairCorr
  0.94MMBVX Massmutual SelectPairCorr
  0.96MMBUX Massmutual SelectPairCorr
  0.94MMBZX Massmutual SelectPairCorr
  0.94MMBYX Massmutual SelectPairCorr
  0.94MMBWX Massmutual SelectPairCorr
  0.77MMCBX Massmutual PremierPairCorr
  0.71MMBEX Massmutual SelectPairCorr
  0.96MMBDX Massmutual PremierPairCorr
  0.96MMBLX Massmutual PremierPairCorr
  0.97MMELX Massmutual Select MidPairCorr
  0.97MMDFX Massmutual SelectPairCorr
  0.94MMDDX Massmutual SelectPairCorr
  0.94MMDJX Massmutual SelectPairCorr
  0.94MMDHX Massmutual SelectPairCorr
  0.97MMDGX Massmutual SelectPairCorr
  0.94MMDMX Massmutual SelectPairCorr
  0.94MMDKX Massmutual SelectPairCorr
  0.94MMDOX Massmutual SelectPairCorr
  0.97MMFZX Massmutual SelectPairCorr
  0.95MMFYX Massmutual Select FocusedPairCorr
  0.94MMFWX Massmutual SelectPairCorr
  0.97MMGEX Massmutual Select SmallPairCorr
  0.96MMFBX Massmutual SelectPairCorr
  0.97MMFFX Mm Sp 500PairCorr
  0.94MMFEX Massmutual SelectPairCorr
  0.94MMFDX Massmutual SelectPairCorr
  0.96MMFJX Massmutual SelectPairCorr
  0.94MMFHX Massmutual SelectPairCorr
  0.94MMFGX Massmutual SelectPairCorr
  0.94MMFLX Massmutual SelectPairCorr
  0.96MMFKX Massmutual SelectPairCorr
  0.97MMFRX Massmutual SelectPairCorr
  0.94MMFQX Massmutual SelectPairCorr
  0.94MMFPX Massmutual SelectPairCorr
  0.94MMFOX Massmutual SelectPairCorr
  0.95MMFVX Massmutual Select FocusedPairCorr
  0.94MMFUX Massmutual SelectPairCorr
  0.94MMFTX Massmutual SelectPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
MMBDXMMBRX
MMBZXMMBVX
MMBYXMMBVX
MMBWXMMBVX
MMBYXMMBZX
MMBWXMMBZX
  
High negative correlations   
MMBDXMMARX
MMBEXMMARX
MMARXMMCBX
MMARXMMBWX
MMARXMMBYX
MMARXMMBZX

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.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MMBRX  0.42  0.03 (0.04) 0.19  0.37 
 1.11 
 2.93 
MMBVX  0.23  0.09 (0.13)(2.79) 0.00 
 0.70 
 1.69 
MMBUX  0.74  0.22  0.06 (1.29) 0.72 
 1.89 
 5.99 
MMBZX  0.22  0.09 (0.14)(3.78) 0.00 
 0.76 
 1.68 
MMBYX  0.23  0.09 (0.13)(3.00) 0.00 
 0.76 
 1.69 
MMBWX  0.23  0.09 (0.13)(3.52) 0.00 
 0.76 
 1.69 
MMCBX  0.24  0.03 (0.33)(1.64) 0.17 
 0.46 
 1.14 
MMARX  0.00  0.00  0.00  0.00  0.00 
 0.00 
 0.00 
MMBEX  0.17  0.02 (0.52)(3.52) 0.08 
 0.35 
 0.93 
MMBDX  0.42  0.03 (0.04) 0.19  0.39 
 1.08 
 2.86