Mfs Technology Correlations

MTCIX Fund

USD 75.74 0.26 0.34%

The current 90-days correlation between Mfs Technology and Harding Loevner Global is 0.03 (i.e., Significant diversification). The correlation of Mfs Technology 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 Technology Correlation With Market

Poor diversification

The correlation between Mfs Technology Fund and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs Technology Fund 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 Technology Fund. 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

0.67	DBD	Diebold Nixdorf,	Pair Corr
0.68	GENVR	Gen Digital Contingent	Pair Corr
0.73	CORZZ	Core Scientific, Tranche	Pair Corr
0.62	STRF	MicroStrategy Incorporated	Pair Corr

Moving against Mfs Mutual Fund

0.62	EXOD	Exodus Movement, Tech Boost	Pair Corr
0.58	JNPR	Juniper Networks	Pair Corr
0.75	SMTK	SmartKem, Common Stock	Pair Corr
0.53	AXIL	AXIL Brands, Trending	Pair Corr
0.39	SLNHP	Soluna Holdings Preferred	Pair Corr
0.36	DAICW	CID HoldCo, Warrants	Pair Corr
0.33	ODYS	Odysightai Common Stock	Pair Corr
0.31	APCX	Apptech Corp	Pair Corr

Related Correlations Analysis

	HLGZX	ARTRX	TBCUX	CABIX	DODWX	MFIRX	GMADX
HLGZX		0.74	0.96	0.96	0.99	0.85	0.98	HLGZX
ARTRX	0.74		0.73	0.68	0.74	0.61	0.72	ARTRX
TBCUX	0.96	0.73		0.96	0.98	0.89	0.98	TBCUX
CABIX	0.96	0.68	0.96		0.97	0.95	0.98	CABIX
DODWX	0.99	0.74	0.98	0.97		0.88	0.99	DODWX
MFIRX	0.85	0.61	0.89	0.95	0.88		0.9	MFIRX
GMADX	0.98	0.72	0.98	0.98	0.99	0.9		GMADX
	HLGZX	ARTRX	TBCUX	CABIX	DODWX	MFIRX	GMADX

Click cells to compare fundamentals

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Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs Technology 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 Technology'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
HLGZX	0.55	0.22	0.14	(17.00)	0.00	(0.66)	1.86	(0.93)	3.55
ARTRX	0.59	0.14	0.15	0.34	0.26	(0.72)	1.71	(1.05)	3.60
TBCUX	0.41	0.16	0.05	(9.25)	0.11	(0.52)	1.01	(0.66)	2.39
CABIX	0.27	0.11	(0.06)	(1.55)	0.00	(0.33)	0.57	(0.51)	2.20
DODWX	0.50	0.23	0.14	(3.76)	0.11	(0.61)	1.45	(0.90)	3.29
MFIRX	0.14	0.04	(0.42)	22.67	0.00	(0.25)	0.38	(0.19)	0.76
GMADX	0.48	0.23	0.12	(2.78)	0.20	(0.59)	1.41	(1.09)	3.02

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