Mfs New Correlations

Mutual Funds . USA . 
Fund . Mfs New Discovery
NDVCX Fund  USD 16.47  0.12  0.73%   
The current 90-days correlation between Mfs New Discovery and Goldman Sachs Clean is 0.27 (i.e., Modest diversification). The correlation of Mfs New 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 New Correlation With Market

Good diversification

The correlation between Mfs New Discovery and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mfs New Discovery 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 New Discovery. 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 main economic indicators.

Moving together with Mfs Mutual Fund

  0.97LFTFX Mfs Lifetime 2065PairCorr
  0.97LFTJX Mfs Lifetime 2065PairCorr
  0.97LFTGX Mfs Lifetime 2065PairCorr
  0.97LFTHX Mfs Lifetime 2065PairCorr
  0.95LFTMX Mfs Lifetime 2065PairCorr
  0.97LFTNX Mfs Lifetime 2065PairCorr
  0.97LFTKX Mfs Lifetime 2065PairCorr
  0.97LFTLX Mfs Lifetime 2065PairCorr
  0.89HYPPX Mfs High YieldPairCorr
  0.97UIVIX Mfs Intrinsic ValuePairCorr
  0.97UIVCX Mfs Intrinsic ValuePairCorr
  0.97UIVPX Mfs Intrinsic ValuePairCorr
  0.94UIVQX Mfs Intrinsic ValuePairCorr
  0.97UIVNX Mfs Intrinsic ValuePairCorr
  0.94UIVMX Mfs Intrinsic ValuePairCorr
  0.97UIVVX Mfs Intrinsic ValuePairCorr
  0.95UIVRX Mfs Intrinsic ValuePairCorr
  0.93OTCHX Mfs Mid CapPairCorr
  0.93OTCIX Mfs Mid CapPairCorr
  0.93OTCJX Mfs Mid CapPairCorr
  0.93OTCKX Mfs Mid CapPairCorr
  0.88MKVCX Mfs International LargePairCorr
  0.89MKVBX Mfs International LargePairCorr
  0.93OTCGX Mfs Mid CapPairCorr
  0.88MKVGX Mfs International LargePairCorr
  0.88MKVFX Mfs International LargePairCorr
  0.88MKVEX Mfs International LargePairCorr
  0.88MKVDX Mfs International LargePairCorr
  0.89MKVIX Mfs International LargePairCorr
  0.88MKVHX Mfs Series TrustPairCorr
  0.94BRKBX Mfs Blended ResearchPairCorr
  0.94BRKCX Mfs Blended ResearchPairCorr
  0.93BRKAX Mfs Blended ResearchPairCorr
  0.95OTCAX Mfs Mid CapPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Mfs Mutual Fund performing well and Mfs New 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 New'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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