Massmutual Advantage Correlations

Mutual Funds . USA . 
Fund . Massmutual Advantage Funds
MMJDX Fund   9.98  0.01  0.10%   
The current 90-days correlation between Massmutual Advantage and Massmutual Premier E is 0.5 (i.e., Very weak diversification). The correlation of Massmutual Advantage 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 Advantage Correlation With Market

Significant diversification

The correlation between Massmutual Advantage Funds and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Massmutual Advantage Funds 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 Advantage Funds. 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 services.

Moving together with Massmutual Mutual Fund

  0.96MMCBX Massmutual PremierPairCorr
  0.62MMGEX Massmutual Select SmallPairCorr
  0.85MMFFX Mm Sp 500PairCorr
  0.65MMIEX Mm Sp 500PairCorr
  0.86MMINX Mm Sp 500PairCorr
  0.86MMIZX Mm Sp 500PairCorr
  0.97MMJAX Massmutual RetiresmartPairCorr
  0.69MMNBX MmnbxPairCorr
  0.65MMOJX MmojxPairCorr
  0.83MMNJX MmnjxPairCorr
  0.79MMNWX MmnwxPairCorr
  0.84MMZMX MmzmxPairCorr
  1.0MMZQX Massmutual ClintonPairCorr
  0.84DLHYX Massmutual Premier HighPairCorr
  0.63MOSNX Massmutual SelectPairCorr
  0.64MOSLX Massmutual SelectPairCorr
  0.65MOSSX Massmutual SelectPairCorr
  0.65MOSZX Massmutual SelectPairCorr
  0.64MOSYX Massmutual SelectPairCorr
  0.64MOSAX Massmutual SelectPairCorr
  0.64MOSFX Massmutual SelectPairCorr
  0.82MPHLX Massmutual Premier HighPairCorr
  0.86MPHNX Massmutual Prem HighPairCorr
  0.85MPHSX Massmutual Premier HighPairCorr
  0.79MPHRX Massmutual Premier HighPairCorr
  0.85MPHZX Massmutual Premier HighPairCorr
  0.89MPSDX Massmutual PremierPairCorr
  0.92BXDLX Massmutual Short-durationPairCorr
  0.92MSBYX Massmutual PremierPairCorr
  0.88MSDNX Massmutual PremierPairCorr
  0.83MSCYX Massmutual Select SmallPairCorr
  0.83MSERX Massmutual Select SmallPairCorr

Related Correlations Analysis


Risk-Adjusted Indicators

There is a big difference between Massmutual Mutual Fund performing well and Massmutual Advantage 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 Advantage'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MMCBX  0.18  0.02 (0.42)(0.92) 0.00 
(0.23)
 0.33 
(0.33)
 0.99 
MMELX  0.64  0.07 (0.08)(0.40) 0.74 
(0.70)
 1.52 
(1.10)
 4.76 
MMGEX  0.83  0.13  0.00 (0.82) 0.86 
(0.95)
 1.74 
(1.40)
 5.78 
MMFFX  0.50  0.11 (0.02)(0.75) 0.61 
(0.55)
 1.23 
(1.02)
 4.21 
MMIEX  0.49 (0.02)(0.04) 0.10  0.63 
(0.52)
 1.22 
(0.98)
 4.20 
MMINX  0.49  0.11 (0.02)(1.58) 0.61 
(0.54)
 1.25 
(0.96)
 4.22 
MMIZX  0.50  0.11 (0.01)(1.54) 0.62 
(0.55)
 1.24 
(0.99)
 4.33 
MMJAX  0.15  0.06 (0.34) 7.49  0.00 
(0.26)
 0.43 
(0.21)
 1.08 
MMJDX  0.06  0.01 (1.01) 1.71  0.00 
(0.14)
 0.20 
(0.10)
 0.40 
MMNBX  0.47  0.09 (0.07)(1.28) 0.39 
(0.61)
 1.12 
(0.73)
 3.24 

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