Massmutual Select Correlations

MMFJX Fund

USD 15.22 0.03 0.20%

The current 90-days correlation between Massmutual Select and Sprott Gold Equity is -0.36 (i.e., Very good 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 T and DJI is 0.72 (i.e., 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 inflation.

Moving together with Massmutual Mutual Fund

0.99	FSNLX	Fidelity Freedom 2015	Pair Corr
1.0	PARHX	T Rowe Price	Pair Corr
1.0	RRTMX	T Rowe Price	Pair Corr
0.99	FFVFX	Fidelity Freedom 2015	Pair Corr
0.99	FPTKX	Fidelity Freedom 2015	Pair Corr
1.0	TRUBX	T Rowe Price	Pair Corr
0.99	AABTX	American Funds 2015	Pair Corr
0.99	CCBTX	American Funds 2015	Pair Corr
0.97	FTCAX	Templeton Strained Bond	Pair Corr
0.95	PSHAX	Short Term Fund	Pair Corr
0.99	CSRYX	Columbia Select Large	Pair Corr
0.96	FISVX	Fidelity Small Cap	Pair Corr
0.97	DCEMX	Dunham Emerging Markets	Pair Corr
0.96	SPSDX	Sterling Capital Beh	Pair Corr
0.96	FDEGX	Fidelity Growth Stra	Pair Corr
0.93	RIVKX	American Funds Inter	Pair Corr
0.98	FFFCX	Fidelity Freedom 2010	Pair Corr
0.67	IBM	International Business	Pair Corr
0.65	CVX	Chevron Corp	Pair Corr
0.62	JPM	JPMorgan Chase	Pair Corr

Moving against Massmutual Mutual Fund

0.97	USPSX	Profunds Ultrashort Potential Growth	Pair Corr
0.97	USPIX	Profunds Ultrashort Potential Growth	Pair Corr
0.44	UIPIX	Ultrashort Mid Cap	Pair Corr
0.4	TRV	The Travelers Companies	Pair Corr
0.33	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	SGDLX	IOGYX	OGMCX	FEGOX	FRGOX	EPGFX	GCSIX	MXKJX
SGDLX		0.91	0.99	0.84	0.92	0.85	0.55	0.52	SGDLX
IOGYX	0.91		0.9	0.94	0.97	0.89	0.51	0.43	IOGYX
OGMCX	0.99	0.9		0.82	0.89	0.8	0.51	0.48	OGMCX
FEGOX	0.84	0.94	0.82		0.96	0.93	0.39	0.28	FEGOX
FRGOX	0.92	0.97	0.89	0.96		0.95	0.56	0.47	FRGOX
EPGFX	0.85	0.89	0.8	0.93	0.95		0.66	0.56	EPGFX
GCSIX	0.55	0.51	0.51	0.39	0.56	0.66		0.96	GCSIX
MXKJX	0.52	0.43	0.48	0.28	0.47	0.56	0.96		MXKJX
	SGDLX	IOGYX	OGMCX	FEGOX	FRGOX	EPGFX	GCSIX	MXKJX

Click cells to compare fundamentals

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SGDLX	1.38	0.36	(0.03)	(0.14)	1.93	(1.38)	2.96	(2.89)	11.34
IOGYX	1.41	0.03	(0.05)	0.31	1.95	(1.41)	2.84	(3.66)	10.46
OGMCX	1.40	0.28	(0.05)	(0.12)	1.91	(1.40)	2.87	(3.69)	10.45
FEGOX	1.38	0.02	(0.07)	0.29	1.84	(1.47)	2.57	(2.99)	9.95
FRGOX	1.52	0.13	(0.02)	1.23	2.02	(1.51)	3.02	(3.21)	11.91
EPGFX	1.41	0.15	(0.01)	0.82	1.84	(1.46)	3.36	(2.87)	10.25
GCSIX	0.93	0.05	0.08	0.25	0.83	(1.10)	2.52	(1.92)	6.41
MXKJX	0.72	0.27	0.02	(1.23)	0.61	(0.91)	1.88	(1.43)	5.35

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