| MIDKX Fund | | | USD 24.76 0.16 0.65% |
The current 90-days correlation between Sp Midcap Index and Mfs Diversified Income is -0.21 (i.e., Very good diversification). The correlation of Sp Midcap 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.
Sp Midcap Correlation With Market
Very good diversification
The correlation between Sp Midcap Index and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sp Midcap Index and DJI in the same portfolio, assuming nothing else is changed.
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Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Sp Midcap Index. 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 industry.