Correlation Between Mm Sp and Massmutual Advantage
Can any of the company-specific risk be diversified away by investing in both Mm Sp and Massmutual Advantage at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Mm Sp and Massmutual Advantage into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mm Sp 500 and Massmutual Advantage Funds, you can compare the effects of market volatilities on Mm Sp and Massmutual Advantage and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Mm Sp with a short position of Massmutual Advantage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mm Sp and Massmutual Advantage.
Diversification Opportunities for Mm Sp and Massmutual Advantage
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between MMIZX and Massmutual is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Mm Sp 500 and Massmutual Advantage Funds in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Massmutual Advantage and Mm Sp is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Mm Sp 500 are associated (or correlated) with Massmutual Advantage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Massmutual Advantage has no effect on the direction of Mm Sp i.e., Mm Sp and Massmutual Advantage go up and down completely randomly.
Pair Corralation between Mm Sp and Massmutual Advantage
Assuming the 90 days horizon Mm Sp 500 is expected to generate 8.05 times more return on investment than Massmutual Advantage. However, Mm Sp is 8.05 times more volatile than Massmutual Advantage Funds. It trades about 0.1 of its potential returns per unit of risk. Massmutual Advantage Funds is currently generating about 0.27 per unit of risk. If you would invest 1,601 in Mm Sp 500 on August 16, 2025 and sell it today you would earn a total of 75.00 from holding Mm Sp 500 or generate 4.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 98.44% |
| Values | Daily Returns |
Mm Sp 500 vs. Massmutual Advantage Funds
Performance |
| Timeline |
| Mm Sp 500 |
| Massmutual Advantage |
Mm Sp and Massmutual Advantage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mm Sp and Massmutual Advantage
The main advantage of trading using opposite Mm Sp and Massmutual Advantage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mm Sp position performs unexpectedly, Massmutual Advantage can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Massmutual Advantage will offset losses from the drop in Massmutual Advantage's long position.| Mm Sp vs. Guidemark Large Cap | Mm Sp vs. Alternative Asset Allocation | Mm Sp vs. Dws Global Macro | Mm Sp vs. Qs Large Cap |
| Massmutual Advantage vs. Massmutual Premier E | Massmutual Advantage vs. Massmutual Select Mid | Massmutual Advantage vs. Massmutual Select Small | Massmutual Advantage vs. Mm Sp 500 |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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