Correlation Analysis Between DOW and MFS Diversified

This module allows you to analyze existing cross correlation between DOW and MFS Diversified Income Fund Cla. You can compare the effects of market volatilities on DOW and MFS Diversified 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 DOW with a short position of MFS Diversified. See also your portfolio center. Please also check ongoing floating volatility patterns of DOW and MFS Diversified.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

 Predicted Return Density 
      Returns 

DOW  vs.  MFS Diversified Income Fund Cl

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 2.99 times more return on investment than MFS Diversified. However, DOW is 2.99 times more volatile than MFS Diversified Income Fund Cla. It trades about 0.14 of its potential returns per unit of risk. MFS Diversified Income Fund Cla is currently generating about 0.12 per unit of risk. If you would invest  2,613,579  in DOW on October 16, 2019 and sell it today you would earn a total of  164,617  from holding DOW or generate 6.3% return on investment over 30 days.

Pair Corralation between DOW and MFS Diversified

0.75
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for DOW and MFS Diversified

DOW diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding DOW and MFS Diversified Income Fund Cl in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on MFS Diversified Income and DOW 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 DOW are associated (or correlated) with MFS Diversified. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MFS Diversified Income has no effect on the direction of DOW i.e. DOW and MFS Diversified go up and down completely randomly.
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See also your portfolio center. Please also try Fundamental Analysis module to view fundamental data based on most recent published financial statements.


 
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