Correlation Analysis Between MFS Blended and American Funds

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

MFS Blended Research  
1515

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in MFS Blended Research Global Equ are ranked lower than 15 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly weak basic indicators, MFS Blended may actually be approaching a critical reversion point that can send shares even higher in December 2019.
American Funds Capital  
77

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in American Funds Capital World are ranked lower than 7 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly weak basic indicators, American Funds may actually be approaching a critical reversion point that can send shares even higher in December 2019.

MFS Blended and American Funds Volatility Contrast

 Predicted Return Density 
      Returns 

MFS Blended Research Global Eq  vs.  American Funds Capital World

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, MFS Blended Research Global Equ is expected to generate 0.64 times more return on investment than American Funds. However, MFS Blended Research Global Equ is 1.57 times less risky than American Funds. It trades about 0.23 of its potential returns per unit of risk. American Funds Capital World is currently generating about 0.11 per unit of risk. If you would invest  1,116  in MFS Blended Research Global Equ on October 23, 2019 and sell it today you would earn a total of  109.00  from holding MFS Blended Research Global Equ or generate 9.77% return on investment over 30 days.

Pair Corralation between MFS Blended and American Funds

0.89
Time Period3 Months [change]
DirectionPositive 
StrengthStrong
Accuracy98.41%
ValuesDaily Returns

Diversification Opportunities for MFS Blended and American Funds

MFS Blended Research Global Eq diversification synergy

Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding MFS Blended Research Global Eq and American Funds Capital World in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on American Funds Capital 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 American Funds. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of American Funds Capital has no effect on the direction of MFS Blended i.e. MFS Blended and American Funds go up and down completely randomly.
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