Correlation Analysis Between MFS Blended and DOW

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

 Predicted Return Density 
      Returns 

MFS Blended Research Global Eq  vs.  DOW

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, MFS Blended Research Global Equ is expected to generate 0.94 times more return on investment than DOW. However, MFS Blended Research Global Equ is 1.07 times less risky than DOW. It trades about 0.19 of its potential returns per unit of risk. DOW is currently generating about 0.15 per unit of risk. If you would invest  1,133  in MFS Blended Research Global Equ on October 18, 2019 and sell it today you would earn a total of  99.00  from holding MFS Blended Research Global Equ or generate 8.74% return on investment over 30 days.

Pair Corralation between MFS Blended and DOW

0.96
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for MFS Blended and DOW

MFS Blended Research Global Eq diversification synergy

Almost no diversification

Overlapping area represents the amount of risk that can be diversified away by holding MFS Blended Research Global Eq and DOW in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on DOW and MFS Blended 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 MFS Blended Research Global Equ are associated (or correlated) with DOW. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DOW has no effect on the direction of MFS Blended i.e. MFS Blended and DOW go up and down completely randomly.
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See also your portfolio center. Please also try Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.


 
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