Mainstay Map Correlations

Mutual Funds . USA . 
Fund . Mainstay Map Equity
MAPAX Fund  USD 30.87  0.21  0.68%   
The current 90-days correlation between Mainstay Map Equity and Precious Metals Fund is -0.37 (i.e., Very good diversification). The correlation of Mainstay Map 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 Map Correlation With Market

Very weak diversification

The correlation between Mainstay Map Equity and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mainstay Map Equity and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Mainstay Map 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 nation.

Moving together with Mainstay Mutual Fund

  0.9MLACX Mainstay Large CapPairCorr
  0.98MLAIX Mainstay Large CapPairCorr
  0.99MMRAX Mainstay ModeratePairCorr
  0.99MMRCX Mainstay ModeratePairCorr
  0.99MNEVX Mainstay Conservative EtfPairCorr
  0.96APSLX Mainstay Fiera SmidPairCorr
  0.87APSDX Mainstay Fiera SmidPairCorr
  0.99MNEKX Mainstay Conservative EtfPairCorr
  0.87EPLCX Mainstay Epoch EquityPairCorr
  0.97FCGYX Mainstay Pinestone GlobalPairCorr
  0.98EPSYX Mainstay Epoch GlobalPairCorr
  0.86EPSKX Mainstay Epoch GlobalPairCorr
  0.97FCUDX Mainstay Pinestone EquityPairCorr
  0.95MOPCX Mainstay Epoch SmallPairCorr
  0.84VCRCX Mainstay Cbre GlobalPairCorr
  0.86VCRAX Voya Cbre GlobalPairCorr
  0.86VCRIX Voya Cbre GlobalPairCorr
  0.92MSPIX Mainstay Sp 500PairCorr
  1.0MBACX Mainstay BalancedPairCorr
  0.99MBAIX Mainstay BalancedPairCorr
  0.92MSTIX Mainstay Tax AdvantagedPairCorr
  0.94ICEVX Mainstay Epoch InterPairCorr
  0.94ICEUX Mainstay Epoch InterPairCorr
  0.99MBNAX Mainstay BalancedPairCorr
  0.75MTBIX Mainstay Tax FreePairCorr
  0.67MTFCX Mainstay Tax FreePairCorr
  0.98MTISX Mainstay Income BuilderPairCorr
  0.98MTRAX Mainstay Income BuilderPairCorr
  0.98MCNVX Mainstay VertiblePairCorr
  0.98MCOAX Mainstay ConvertiblePairCorr
  0.98MCTRX Mainstay Income BuilderPairCorr
  0.99MDARX Mainstay Moderate EtfPairCorr
  0.99MDAVX Mainstay Moderate EtfPairCorr
  0.97MDHCX Mainstay Short DurationPairCorr
  0.97MXFAX Mainstay Floating RatePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

Risk-Adjusted Indicators

There is a big difference between Mainstay Mutual Fund performing well and Mainstay Map 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 Map'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.

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