Mfs International Correlations

MINIX Fund

USD 46.39 0.28 0.61%

The current 90-days correlation between Mfs International Value and Fidelity Sai Convertible is 0.19 (i.e., Average diversification). The correlation of Mfs International 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 International Correlation With Market

Poor diversification

The correlation between Mfs International Value and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs International Value 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 International Value. 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 gross domestic product.

Moving together with Mfs Mutual Fund

0.96	UIVCX	Mfs Intrinsic Value	Pair Corr
0.96	UIVQX	Mfs Intrinsic Value	Pair Corr
0.93	DIFIX	Mfs Diversified Income	Pair Corr
0.93	BRSTX	Mfs Blended Research	Pair Corr
0.98	MNWTX	Mfs Managed Wealth	Pair Corr
0.91	NDVCX	Mfs New Discovery	Pair Corr
0.95	MRGAX	Mfs E Equity	Pair Corr
0.98	MAAFX	Mfs Aggressive Growth	Pair Corr
0.97	MTCCX	Mfs Technology	Pair Corr
0.96	MTCIX	Mfs Technology	Pair Corr
0.98	MDIDX	Mfs International	Pair Corr
0.98	MDIZX	Mfs International	Pair Corr
0.93	MVCAX	Mfs Mid Cap	Pair Corr
0.89	MEDIX	Mfs Emerging Markets	Pair Corr
0.94	MEIKX	Mfs Value Fund	Pair Corr
0.94	MEIIX	Mfs Value Fund	Pair Corr
0.94	MEMCX	Mfs Emerging Markets	Pair Corr
0.96	MFEIX	Mfs Growth Fund	Pair Corr
0.97	MFJTX	Mfs Lifetime 2060	Pair Corr
0.97	MFJUX	Mfs Lifetime 2060	Pair Corr
0.76	MFIWX	Mfs Income Fund	Pair Corr
0.96	MFJAX	Mfs Lifetime 2060	Pair Corr
0.96	MFJBX	Mfs Lifetime 2060	Pair Corr
0.98	MGIAX	Mfs International Value	Pair Corr
0.91	MGLCX	Mfs Global Real	Pair Corr
0.91	MGLAX	Mfs Global Real	Pair Corr
0.91	MGLIX	Mfs Global Real	Pair Corr
0.99	DVRKX	Mfs Global Alternative	Pair Corr
0.99	MIDHX	Mfs International New	Pair Corr
0.98	MIDLX	Mfs International New	Pair Corr
1.0	MINJX	Mfs International Value	Pair Corr
0.98	VGTSX	Vanguard Total Inter	Pair Corr
0.98	VTIAX	Vanguard Total Inter	Pair Corr
0.98	VTSNX	Vanguard Total Inter	Pair Corr

Related Correlations Analysis

	FSAWX	XNCVX	VAADX	CCD	NCIDX	XAVKX
FSAWX		0.95	0.96	-0.18	0.95	0.95	FSAWX
XNCVX	0.95		1.0	-0.21	1.0	0.98	XNCVX
VAADX	0.96	1.0		-0.21	1.0	0.98	VAADX
CCD	-0.18	-0.21	-0.21		-0.19	-0.12	CCD
NCIDX	0.95	1.0	1.0	-0.19		0.98	NCIDX
XAVKX	0.95	0.98	0.98	-0.12	0.98		XAVKX
	FSAWX	XNCVX	VAADX	CCD	NCIDX	XAVKX

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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

VAADX	+ 1.0	XNCVX
NCIDX	+ 1.0	XNCVX
NCIDX	+ 1.0	VAADX
XAVKX	+ 0.98	XNCVX
XAVKX	+ 0.98	VAADX
XAVKX	+ 0.98	NCIDX

High negative correlations

CCD	- 0.21	VAADX
CCD	- 0.21	XNCVX
NCIDX	- 0.19	CCD
CCD	- 0.18	FSAWX
XAVKX	- 0.12	CCD

Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs International 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 International'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
FSAWX	0.10	0.03	(0.94)	2.21	0.00	(0.17)	0.28	(0.09)	0.73
XNCVX	0.46	0.24	0.19	(18.47)	0.00	(0.65)	1.33	(0.78)	3.12
VAADX	0.41	0.23	0.15	(4.86)	0.00	(0.52)	1.20	(0.81)	2.65
CCD	0.62	(0.02)	(0.10)	0.10	0.81	(0.65)	1.32	(1.03)	4.97
NCIDX	0.46	0.23	0.18	(4.49)	0.00	(0.61)	1.24	(0.49)	2.74
XAVKX	0.56	0.20	0.07	(2.32)	0.41	(0.64)	1.65	(1.32)	4.13

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