MFS Municipal Correlations

MFM Stock

USD 5.38 0.03 0.55%

The current 90-days correlation between MFS Municipal Income and Eaton Vance Municipal is 0.28 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MFS Municipal moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MFS Municipal Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

MFS Municipal Correlation With Market

Modest diversification

The correlation between MFS Municipal Income 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 Municipal Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MFS Stock

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

Moving together with MFS Stock

0.67	BBUC	Brookfield Business Corp	Pair Corr
0.75	BK	Bank of New York Sell-off Trend	Pair Corr
0.68	BN	Brookfield Corp	Pair Corr
0.68	FT	Franklin Universal Closed	Pair Corr
0.76	TY	Tri Continental Closed	Pair Corr
0.79	TEK	Tekcapital plc	Pair Corr
0.77	VINP	Vinci Partners Inves	Pair Corr
0.82	BCBN	Base Carbon Earnings Call This Week	Pair Corr
0.71	OEQ	Orion Equities	Pair Corr
0.83	SII	Sprott Inc	Pair Corr

Moving against MFS Stock

0.83	PX	P10 Inc	Pair Corr
0.65	DHIL	Diamond Hill Investment	Pair Corr
0.49	CG	Carlyle Group	Pair Corr
0.38	BX	Blackstone Group	Pair Corr
0.31	WT	WisdomTree	Pair Corr
0.84	JLEN	JLEN Environmental Assets	Pair Corr
0.79	VCTR	Victory Capital Holdings	Pair Corr
0.76	MNTN	Schiehallion	Pair Corr
0.7	GCMGW	GCM Grosvenor	Pair Corr
0.52	ALAB-P	A Labs Capital	Pair Corr
0.48	SCGL	Sealand Capital Galaxy	Pair Corr
0.48	PNI	Pinnacle Investment	Pair Corr
0.41	MFG	Magellan Financial	Pair Corr
0.6	VRTS	Virtus Investment	Pair Corr

Related Correlations Analysis

	ETX	HEIFX	PMM	BLUC	MCR	SDVSX	SILVX	SDVGX	SGAPX	EHI
ETX		0.51	0.88	0.78	0.58	0.81	0.78	0.71	0.13	0.05	ETX
HEIFX	0.51		0.42	0.28	0.62	0.36	0.65	0.17	0.12	0.55	HEIFX
PMM	0.88	0.42		0.86	0.63	0.88	0.78	0.81	0.1	-0.06	PMM
BLUC	0.78	0.28	0.86		0.45	0.99	0.8	0.9	0.37	-0.21	BLUC
MCR	0.58	0.62	0.63	0.45		0.45	0.6	0.35	0.14	0.48	MCR
SDVSX	0.81	0.36	0.88	0.99	0.45		0.85	0.9	0.31	-0.2	SDVSX
SILVX	0.78	0.65	0.78	0.8	0.6	0.85		0.7	0.35	-0.03	SILVX
SDVGX	0.71	0.17	0.81	0.9	0.35	0.9	0.7		0.22	-0.25	SDVGX
SGAPX	0.13	0.12	0.1	0.37	0.14	0.31	0.35	0.22		-0.1	SGAPX
EHI	0.05	0.55	-0.06	-0.21	0.48	-0.2	-0.03	-0.25	-0.1		EHI
	ETX	HEIFX	PMM	BLUC	MCR	SDVSX	SILVX	SDVGX	SGAPX	EHI

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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

SDVSX	+ 0.99	BLUC
SDVGX	+ 0.9	BLUC
SDVGX	+ 0.9	SDVSX
PMM	+ 0.88	ETX
SDVSX	+ 0.88	PMM
BLUC	+ 0.86	PMM

High negative correlations

EHI	- 0.25	SDVGX
EHI	- 0.21	BLUC
EHI	- 0.2	SDVSX
EHI	- 0.1	SGAPX
EHI	- 0.06	PMM
EHI	- 0.03	SILVX

Risk-Adjusted Indicators

There is a big difference between MFS Stock performing well and MFS Municipal Company 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 Municipal'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
ETX	0.56	0.10	0.01	(1.52)	0.65	(0.63)	1.60	(1.18)	4.79
HEIFX	0.31	(0.03)	(0.14)	0.02	0.41	(0.35)	0.70	(0.62)	2.34
PMM	0.45	0.07	(0.01)	1.04	0.34	(0.60)	1.01	(0.66)	3.71
BLUC	0.54	0.00	(0.01)	0.08	0.71	(0.54)	1.22	(1.07)	4.22
MCR	0.35	0.00	(0.13)	0.08	0.42	(0.38)	0.64	(0.93)	2.20
SDVSX	0.38	0.02	(0.01)	0.11	0.39	(0.43)	0.88	(0.58)	3.18
SILVX	0.34	(0.02)	(0.11)	0.04	0.48	(0.35)	0.76	(0.97)	2.55
SDVGX	0.39	0.08	(0.01)	(3.33)	0.39	(0.46)	0.89	(0.56)	3.16
SGAPX	0.58	(0.13)	0.00	(0.04)	0.00	0.00	1.01	(1.35)	4.18
EHI	0.30	(0.05)	0.00	(0.08)	0.00	0.00	0.48	(0.62)	2.03

MFS Municipal Corporate Management

James Kilman	Independent Trustee	Profile
Amanda Mooradian	Assistant Secretary, Assistant Clerk	Profile
Susan Pereira	Assistant Secretary and Assistant Clerk	Profile
Laurie Thomsen	Independent Trustee	Profile
CFA CPA	Portfolio Manager	Profile

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