Mfs Managed Correlations

MNWAX Fund

USD 13.13 0.08 0.61%

The current 90-days correlation between Mfs Managed Wealth and Tcw Servative Allocation is 0.73 (i.e., Poor diversification). The correlation of Mfs Managed 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 Managed Correlation With Market

Very poor diversification

The correlation between Mfs Managed Wealth and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs Managed Wealth 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 Managed Wealth. 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 nation.

Moving together with Mfs Mutual Fund

0.74	LFTFX	Mfs Lifetime 2065	Pair Corr
0.77	LFTJX	Mfs Lifetime 2065	Pair Corr
0.76	LFTGX	Mfs Lifetime 2065	Pair Corr
0.73	LFTHX	Mfs Lifetime 2065	Pair Corr
0.73	LFTMX	Mfs Lifetime 2065	Pair Corr
0.72	LFTNX	Mfs Lifetime 2065	Pair Corr
0.74	LFTKX	Mfs Lifetime 2065	Pair Corr
0.74	LFTLX	Mfs Lifetime 2065	Pair Corr
0.86	UIVIX	Mfs Intrinsic Value	Pair Corr
0.88	UIVCX	Mfs Intrinsic Value	Pair Corr
0.86	UIVPX	Mfs Intrinsic Value	Pair Corr
0.86	UIVQX	Mfs Intrinsic Value	Pair Corr
0.87	UIVNX	Mfs Intrinsic Value	Pair Corr
0.88	UIVMX	Mfs Intrinsic Value	Pair Corr
0.86	UIVVX	Mfs Intrinsic Value	Pair Corr
0.86	UIVRX	Mfs Intrinsic Value	Pair Corr
0.64	OTCHX	Mfs Mid Cap	Pair Corr
0.64	OTCIX	Mfs Mid Cap	Pair Corr
0.64	OTCJX	Mfs Mid Cap	Pair Corr
0.64	OTCKX	Mfs Mid Cap	Pair Corr
0.64	OTCGX	Mfs Mid Cap	Pair Corr
0.64	OTCAX	Mfs Mid Cap	Pair Corr
0.64	OTCBX	Mfs Mid Cap	Pair Corr
0.64	OTCCX	Mfs Mid Cap	Pair Corr

Related Correlations Analysis

	TGPNX	ACWDX	SXMAX	FLFGX	TSWEX	QNTAX	FLCGX	QNTIX	WAGTX	MIDSX
TGPNX		0.92	0.48	0.91	0.56	0.9	0.9	0.9	0.0	0.7	TGPNX
ACWDX	0.92		0.52	0.92	0.53	0.9	0.9	0.9	0.0	0.6	ACWDX
SXMAX	0.48	0.52		0.52	0.73	0.4	0.4	0.4	0.0	0.22	SXMAX
FLFGX	0.91	0.92	0.52		0.59	0.98	0.98	0.98	0.0	0.63	FLFGX
TSWEX	0.56	0.53	0.73	0.59		0.52	0.52	0.52	0.0	0.57	TSWEX
QNTAX	0.9	0.9	0.4	0.98	0.52		1.0	1.0	0.0	0.66	QNTAX
FLCGX	0.9	0.9	0.4	0.98	0.52	1.0		1.0	0.0	0.66	FLCGX
QNTIX	0.9	0.9	0.4	0.98	0.52	1.0	1.0		0.0	0.66	QNTIX
WAGTX	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	WAGTX
MIDSX	0.7	0.6	0.22	0.63	0.57	0.66	0.66	0.66	0.0		MIDSX
	TGPNX	ACWDX	SXMAX	FLFGX	TSWEX	QNTAX	FLCGX	QNTIX	WAGTX	MIDSX

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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

FLCGX	+ 1.0	QNTAX
QNTIX	+ 1.0	QNTAX
QNTIX	+ 1.0	FLCGX
QNTAX	+ 0.98	FLFGX
FLCGX	+ 0.98	FLFGX
QNTIX	+ 0.98	FLFGX

High negative correlations

MIDSX	- 0.0	WAGTX
WAGTX	- 0.0	QNTIX
WAGTX	- 0.0	FLCGX
WAGTX	- 0.0	QNTAX
WAGTX	- 0.0	TSWEX
WAGTX	- 0.0	FLFGX

Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs Managed 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 Managed'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
TGPNX	0.22	0.01	(0.05)	0.08	0.19	(0.26)	0.49	(0.41)	1.56
ACWDX	0.90	0.02	0.02	0.05	1.20	(0.88)	1.96	(1.75)	5.59
SXMAX	0.28	(0.02)	(0.12)	(0.01)	0.34	(0.32)	0.56	(0.51)	1.85
FLFGX	0.50	(0.02)	(0.04)	0.01	0.74	(0.48)	1.04	(1.03)	3.96
TSWEX	0.52	(0.01)	(0.03)	0.03	0.62	(0.57)	1.25	(1.11)	3.59
QNTAX	0.55	0.00	0.00	0.05	0.86	(0.49)	1.25	(1.36)	4.24
FLCGX	0.55	0.00	0.00	0.04	0.85	(0.49)	1.26	(1.37)	4.29
QNTIX	0.55	0.00	0.00	0.05	0.85	(0.48)	1.25	(1.38)	4.27
WAGTX	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MIDSX	1.73	0.37	0.11	0.60	2.49	(1.83)	3.37	(3.90)	13.39

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