Massmutual Select Correlations

Mutual Funds . USA . 
Fund . Massmutual Select T
MMLRX Fund  USD 14.57  0.10  0.69%   
The current 90-days correlation between Massmutual Select and Jpmorgan Diversified Fund is -0.05 (i.e., 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

Very poor diversification

The correlation between Massmutual Select T and DJI is 0.86 (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 metropolitan statistical area.

Moving together with Massmutual Mutual Fund

  1.0VTSAX Vanguard Total StockPairCorr
  1.0VFIAX Vanguard 500 IndexPairCorr
  1.0VTSMX Vanguard Total StockPairCorr
  0.87VITSX Vanguard Total StockPairCorr
  1.0VSMPX Vanguard Total StockPairCorr
  1.0VSTSX Vanguard Total StockPairCorr
  0.88VFINX Vanguard 500 IndexPairCorr
  1.0VFFSX Vanguard 500 IndexPairCorr
  0.88VINIX Vanguard InstitutionalPairCorr
  0.88VIIIX Vanguard InstitutionalPairCorr
  0.84CPAYX Columbia Pacific/asiaPairCorr
  0.95CASAX Columbia PacificasiaPairCorr
  0.86CCCZX Center St BrookfieldPairCorr
  0.87CASCX Columbia PacificasiaPairCorr
  0.97MGHRX Morgan Stanley InstiPairCorr
  0.97MSEQX Growth Portfolio ClassPairCorr
  0.83MSHLX Growth Portfolio ClassPairCorr
  0.62CVX Chevron Corp Earnings Call This WeekPairCorr

Moving against Massmutual Mutual Fund

  0.46TRV The Travelers CompaniesPairCorr
  0.34WMT WalmartPairCorr

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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