Mainstay Pinestone Correlations

Mutual Funds . USA . 
Fund . Mainstay Pinestone Equity
FCUDX Fund   19.87  0.04  0.20%   
The current 90-days correlation between Mainstay Pinestone Equity and Mainstay Large Cap is -0.03 (i.e., Good diversification). The correlation of Mainstay Pinestone is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Mainstay Pinestone Correlation With Market

Almost no diversification

The correlation between Mainstay Pinestone Equity and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Pinestone Equity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Mainstay Pinestone Equity. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Mainstay Mutual Fund

  0.78MLACX Mainstay Large CapPairCorr
  0.78MLAAX Mainstay Large CapPairCorr
  0.78MLAIX Mainstay Large CapPairCorr
  0.78MLRMX Mainstay Winslow LargePairCorr
  0.97MMPDX Mainstay Wmc ValuePairCorr
  0.78MMPCX Mainstay Map EquityPairCorr
  0.78MMRAX Mainstay ModeratePairCorr
  0.95MMRCX Mainstay ModeratePairCorr
  0.95MMRIX Mainstay ModeratePairCorr
  0.95MMRSX Mainstay ModeratePairCorr
  0.94MNERX Mainstay Conservative EtfPairCorr
  0.95MNEVX Mainstay Conservative EtfPairCorr
  0.76APSLX Mainstay Fiera SmidPairCorr
  0.76MNEAX Mainstay Conservative EtfPairCorr
  0.94APSDX Mainstay Fiera SmidPairCorr
  0.95MNELX Mainstay Conservative EtfPairCorr
  0.94MNEKX Mainstay Conservative EtfPairCorr
  0.95EPLPX Mainstay Epoch EquityPairCorr
  0.97EPLMX Mainstay Epoch EquityPairCorr
  0.97EPLKX Mainstay Epoch EquityPairCorr
  0.97EPLCX Mainstay Epoch EquityPairCorr
  0.99FCGYX Mainstay Pinestone GlobalPairCorr
  0.95EPSYX Mainstay Epoch GlobalPairCorr
  0.95EPSPX Mainstay Epoch GlobalPairCorr
  0.94EPSKX Mainstay Epoch GlobalPairCorr
  0.87FCIKX Mainstay PinestonePairCorr
  0.88FCICX Mainstay PinestonePairCorr
  0.95MOEAX Mainstay Growth EtfPairCorr
  0.96MOECX Mainstay Growth EtfPairCorr
  0.96MOEIX Mainstay Growth EtfPairCorr
  0.96MOERX Mainstay Growth EtfPairCorr
  0.78MOEVX Mainstay Growth EtfPairCorr
  1.0FCUPX Mainstay Pinestone EquityPairCorr

Related Correlations Analysis

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Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Pinestone Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Mainstay Pinestone's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.
Mean DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
MLACX  0.75  0.43  0.35  41.08  0.00 
(1.01)
 2.62 
(0.97)
 5.67 
MLAAX  0.77  0.00  0.38  0.00  0.00 
(1.03)
 2.65 
(1.08)
 5.62 
MLAIX  0.78  0.43  0.40  11.66  0.00 
(1.01)
 2.62 
(1.05)
 5.64 
MLRMX  0.77  0.43  0.38 (115.95) 0.00 
(1.01)
 2.58 
(1.05)
 5.68 
MMHAX  0.18 (0.01)(0.49)(0.10) 0.19 
(0.29)
 0.45 
(0.44)
 1.42 
MMHDX  0.20 (0.03) 0.00 (0.38) 0.00 
 0.00 
 0.36 
(0.44)
 1.33 
MMHIX  0.18 (0.03) 0.00 (0.10) 0.00 
 0.00 
 0.45 
(0.36)
 1.42 
MMPDX  0.61  0.01 (0.02) 0.14  0.61 
(0.66)
 1.62 
(0.98)
 4.45 
MMPCX  0.58  0.19  0.05 (0.81) 0.45 
(0.68)
 1.61 
(0.96)
 4.45 
MMRAX  0.33  0.16  0.04 (2.47) 0.00 
(0.41)
 1.11 
(0.63)
 2.51 

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