Correlation Analysis Between MFS Blended and Capital World

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

MFS Blended Research  
1414

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 14 (%) 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.
Capital World Growth  
88

Risk-Adjusted Fund Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Capital World Growth And Income are ranked lower than 8 (%) of all funds and portfolios of funds over the last 30 days. Inspite fairly strong basic indicators, Capital World is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.

MFS Blended and Capital World Volatility Contrast

 Predicted Return Density 
      Returns 

MFS Blended Research Global Eq  vs.  Capital World Growth And Incom

 Performance (%) 
      Timeline 

Pair Volatility

Assuming 30 trading days horizon, MFS Blended Research Global Equ is expected to generate 0.95 times more return on investment than Capital World. However, MFS Blended Research Global Equ is 1.06 times less risky than Capital World. It trades about 0.21 of its potential returns per unit of risk. Capital World Growth And Income is currently generating about 0.13 per unit of risk. If you would invest  1,122  in MFS Blended Research Global Equ on October 15, 2019 and sell it today you would earn a total of  104.00  from holding MFS Blended Research Global Equ or generate 9.27% return on investment over 30 days.

Pair Corralation between MFS Blended and Capital World

0.9
Time Period3 Months [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for MFS Blended and Capital World

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 Capital World Growth And Incom in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Capital World Growth 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 Capital World. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Capital World Growth has no effect on the direction of MFS Blended i.e. MFS Blended and Capital World go up and down completely randomly.
See also your portfolio center. Please also try 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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